MYR Group (MYRG) Q4 2025 Earnings Call Transcript
The Motley Fool
by newsfeedback@fool.com (Motley Fool Transcribing)February 26, 2026
AI-Generated Deep Dive Summary
MYR Group (MYRG) delivered a strong financial performance in its Q4 2025 earnings call, highlighting record revenue growth and improved profitability across key segments. The company reported annual revenue of $3.7 billion, marking a new high, with fourth-quarter revenue reaching $974 million—a 17% year-over-year increase. Both the Transmission and Distribution (T&D) and Commercial and Industrial (C&I) segments saw significant growth, driven by increased demand for transmission projects and fixed-price contracts. These figures underscore MYRG's ability to capitalize on market opportunities while maintaining operational efficiency.
The T&D segment generated $531 million in revenue during Q4, a 18% year-over-year increase, supported by robust contributions from both transmission and distribution projects. Similarly, the C&I segment achieved record revenue of $443 million, up 17%, reflecting higher-margin projects and improved productivity. Gross margins improved to 11.4% for the year, compared to 10.4% in 2024, due to margin recovery from prior-year issues and favorable project outcomes. This margin expansion was further supported by operational improvements and change orders.
MYRG's strong financial performance was also evident in its bottom line, with fourth-quarter net income rising to $37 million—a significant increase from the prior year’s $16 million. Diluted EPS jumped to $2.33 compared to $0.99, reflecting the company's improved profitability. The firm's backlog remained robust at $2.8 billion as of period end, up 9.6% year-over-year, with both T&D and C&I segments contributing significantly. This growth highlights MYRG's ability to secure long-term projects and maintain a healthy pipeline of work.
The company's cash flow performance was another highlight, with Q4 operating cash flow reaching $115 million—a substantial increase from the prior year’s $21 million. Free cash flow also improved to $85 million, up from $9 million, driven by higher capital expenditures and elevated operating cash flow. MYRG's liquidity position remained strong, with $265 million in working capital, $408 million available on its credit facility, and $150 million in cash balances at year-end.
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Originally published on The Motley Fool on 2/26/2026