MYR Group Inc. Reports Record Growth in Third Quarter 2025
Thornton, Wednesday, 29 October 2025.
MYR Group Inc. posted a record net income of $32.1 million and quarterly revenue of $950.4 million, driven by infrastructure demand and service expansion amid challenging economic conditions.
Financial Performance Overview
MYR Group Inc. (NASDAQ: MYRG) reported a remarkable financial performance for the third quarter of 2025, with revenues reaching $950.4 million, marking a significant uptick in comparison to previous quarters. This growth was fueled by an increased demand for infrastructure projects and the company’s strategic expansion of service capabilities. The company’s net income also hit a record $32.1 million, equating to $2.05 per diluted share, indicative of strong operational management and market positioning [1][2].
Segmented Revenue and Profit Growth
The Transmission and Distribution (T&D) segment contributed $503.4 million to the quarterly revenue, while the Commercial and Industrial (C&I) segment accounted for $447.0 million. These figures underscore the balanced growth strategy across different service lines. Consolidated gross profit surged to $111.9 million from $77.3 million in the same period last year, and the gross margin improved from 8.7% in 2024 to 11.8% in 2025, highlighting efficiency improvements and cost management [1].
Strategic Backlog and Future Outlook
As of September 30, 2025, MYR Group reported a backlog of $2.66 billion, reflecting continued confidence in future contract acquisitions. This backlog included $929.0 million from the T&D segment and $1.73 billion from the C&I segment, representing a 2.5% increase from the previous year. The company is well-positioned to capitalize on upcoming opportunities in the renewable energy sector, including wind and solar projects, as it continues to expand operations in the Southeastern United States [1].
Long-Term Financial Strategies
MYR Group’s robust financial health is further evidenced by its available borrowing capacity of $399.8 million under a $490 million revolving credit facility. This financial strategy provides flexibility for future investments and operational expansions. The company’s emphasis on infrastructure projects and renewable energy solutions is expected to drive sustained growth, aligning with broader industry trends towards sustainable energy and infrastructure development [1][2].