MYR Group (MYRG) Q2 2026 Earnings Beat: EPS Tops Estimates by Nearly 20%
As seen on the 24/7 Wall St. homepage on July 29, 2026.
MYR Group's net income nearly doubled on a record $3.16 billion backlog, as gross margins expanded 170 basis points on better project execution and favorable job closes, driven by surging demand for electrical infrastructure and data center construction.
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MYR Group reported second-quarter 2026 earnings per share of $3.17, clearing the consensus estimate of $2.64 by roughly 20%. Revenue came in at $1.08 billion, beating expectations by nearly 9%. The results continued a streak of consistent beats that stretches back through every quarter visible in recent history, with reported EPS outpacing estimates in each of the past eight quarters.
The headline numbers were driven by a sharp improvement in profitability, not just top-line growth. Net income nearly doubled on the strength of a record $3.16 billion backlog, while gross margins expanded 170 basis points thanks to better project execution and favorable job closes. Management pointed to surging demand for electrical infrastructure and data center construction as the primary tailwinds filling that backlog.
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The trajectory of EPS over the past two years underscores how quickly MYR Group's earnings power has scaled. Reported EPS has climbed from $0.65 in Q3 2024 to $3.17 this quarter, a run that reflects both the volume of work the company is winning and its improving ability to execute on that work profitably. The record backlog suggests near-term visibility remains strong heading into the second half of 2026.
Mentioned: MYRG