Q2 2026 MYR Group Inc Earnings Call Transcript
Key Points
- Record second-quarter revenues of $1.08 billion, a 20% increase year-over-year.
- Record net income of $50 million, with diluted EPS up 86% to $3.17.
- Record total backlog of $3.16 billion, 20% higher than the prior year.
- Strong margin improvement in both T&D (9.4%) and C&I (8.5%) segments.
- Successful acquisition of Valley Electric and Comet Electric, expanding C&I capabilities and geographic presence.
- Operating cash flow decreased to $3 million from $33 million due to timing of tax payments and project billings.
- Free cash flow turned negative at -$26 million, impacted by lower operating cash flow and higher capital expenditures.
- C&I segment faces a competitive landscape, limiting pricing power.
- Large T&D projects (e.g., $200 million Xcel awards) will not contribute significantly to revenue until the second half of 2027.
- Potential headwind from near-record low DSOs, which may normalize and pressure cash flow in coming quarters.
Good morning, everyone, and welcome to the MYR Group second-quarter 2026 earnings results conference call. (Operator Instructions) Today's conference is being recorded.
I will now turn the call over to Jennifer Harper, Vice President of Investor Relations and Treasurer, for introductory remarks.
Thank you, and good morning, everyone. I would like to welcome you to the MYR Group conference call to discuss the company's second-quarter results for 2026, which were reported yesterday. Joining us on today's call are Rick Swartz, President and Chief Executive Officer; Kelly Huntington, Senior Vice President and Chief Financial Officer; Brian Stern, Senior Vice President and Chief Operating Officer of MYR Group's Transmission and Distribution segment; and Don Egan, Senior Vice President and Chief Operating Officer of MYR Group's Commercial and Industrial segment.
A copy of yesterday's press release announcing our second-quarter results can be found on the MYR Group
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
