MYR Group Inc. (NASDAQ: MYRG) will participate in the Jefferies Renewables, Clean Energy, & Construction investor conference on September 11, 2026. The event provides a platform for the specialty contractor to engage with institutional investors regarding its business operations.

Executive Participation

Chief Executive Officer Rick Swartz and Chief Financial Officer Kelly Huntington will lead MYR Group’s participation. They are scheduled to meet with institutional investors during the virtual conference. Access to this event is restricted exclusively to Jefferies clients.

Business Overview

MYR Group operates as a holding company for leading specialty electrical contractors serving the United States and Canada. The company functions through two primary segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I).

The T&D segment delivers services for electric transmission, distribution networks, substations, clean energy projects, and electric vehicle charging infrastructure. Clients include investor-owned utilities, cooperatives, government-funded utilities, and independent power producers.

The C&I segment provides design, installation, maintenance, and repair services for commercial and industrial wiring. Key sectors served include data centers, hospitals, manufacturing plants, mining facilities, and intelligent transportation systems. Customers range from general contractors to government agencies and developers.

For further details, investors may visit myrgroup.com or contact Investor Relations at (847) 979-5835.

MYR Group Inc. delivered a strong second quarter of 2026, reporting earnings per share (EPS) of $3.17, which exceeded the analyst consensus estimate of $2.51 by 26.29 percent. The specialty electrical contractor also reported quarterly sales of $1.081 billion, surpassing the consensus estimate of $995.769 million by 8.56 percent and marking a 20.07 percent increase from $900.325 million in the prior-year period. This performance underscores robust demand in utility infrastructure and commercial markets across the United States and Canada.

The company’s net income surged to $49.9 million, or $3.17 per diluted share, up from $26.5 million in the same period last year. This represents an 86.47 percent increase in earnings per share compared to $1.70 per share in the previous year. Total backlog reached $3.16 billion as of June 30, 2026, reflecting a healthy pipeline of quality bidding opportunities.

Segment Performance

The Commercial and Industrial (C&I) segment drove the primary growth, generating record quarterly revenues of $557.7 million, an increase of $163.6 million year-over-year. This growth was primarily attributed to higher revenue on fixed-price contracts. Meanwhile, the Transmission and Distribution (T&D) segment reported revenues of $524.0 million, up $17.7 million from the prior year, driven by increases in T&E and unit price contracts that partially offset declines in fixed-price contract revenue.

Profitability and Margins

Profitability metrics improved significantly during the quarter. Consolidated gross profit rose to $142.7 million from $103.7 million in the second quarter of 2025, pushing the gross margin to 13.2 percent from 11.5 percent. Management attributed this expansion to better-than-anticipated productivity, favorable job close-outs, and increased scope on certain projects. Non-GAAP EBITDA reached a record $85.0 million, compared to $55.6 million in the prior-year quarter.

Operating expenses increased alongside revenue growth. Selling, general, and administrative (SG&A) expenses rose to $74.4 million from $63.3 million, mainly due to higher employee incentive compensation. Interest expense decreased to $0.7 million from $1.9 million due to lower average outstanding debt balances. The effective tax rate for the quarter was 25.7 percent, down from 29.2 percent.

What the Numbers Show

A key analytical observation is the divergence between revenue growth and cash flow generation. While operating revenues surged by nearly 20 percent, free cash flow for the quarter turned negative at $(25.59) million, compared to $11.64 million in the prior-year period. This shift was driven by a significant increase in accounts receivable, which grew by $51.47 million, and a decrease in contract liabilities of $54.09 million. Additionally, capital expenditures for property and equipment totaled $45.05 million for the first half of 2026, reflecting continued investment in operational capacity despite the cash flow headwind.

Looking ahead, MYR Group closed the acquisitions of Valley Electric and Comet Electric on July 1, 2026. These transactions are expected to enhance its C&I capabilities and expand its geographic footprint. Rick Swartz, President and CEO, stated that the company remains focused on strategic growth and disciplined project execution to deliver long-term shareholder value.