THORNTON, Colo., Nov. 12, 2025 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the Bernstein Insights: 4th Annual Industrials Forum investor conference. MYR Group’s Chief Executive Officer, Rick Swartz, and Chief Financial Officer, Kelly Huntington, will meet with institutional investors durin ...

Core Insights - MYR Group Inc. reported strong financial performance for the third quarter of 2025, with revenues of $950 million, marking a year-over-year increase in net income, gross profit, gross margin, and EBITDA [1][2][7]. Financial Performance - Third quarter 2025 revenues reached $950.4 million, an increase of $62.4 million compared to the same period in 2024 [2]. - The Transmission and Distribution (T&D) segment generated revenues of $503.4 million, up by $21.5 million year-over-year, driven by a $16.3 million increase in transmission project revenues and a $5.2 million increase in distribution project revenues [2]. - The Commercial and Industrial (C&I) segment reported revenues of $447.0 million, an increase of $40.8 million from the third quarter of 2024 [2]. Profitability Metrics - Consolidated gross profit for the third quarter of 2025 was $111.9 million, compared to $77.3 million in the same quarter of 2024, with gross margin improving to 11.8% from 8.7% [3]. - The increase in gross margin was attributed to better productivity, favorable change orders, and job closeouts, despite some offsetting costs from project inefficiencies and adverse weather [3]. Expenses and Income - Selling, general and administrative expenses (SG&A) rose to $65.9 million in the third quarter of 2025, up from $57.5 million in the same quarter of 2024, primarily due to increased employee compensation costs [4]. - Interest expense decreased to $1.4 million in the third quarter of 2025, down from $2.0 million in the same period of 2024, due to lower interest rates and reduced debt levels [5]. - The income tax expense for the third quarter of 2025 was $12.6 million, with an effective tax rate of 28.3%, compared to a tax benefit of $7.9 million and a rate of 42.5% in the prior year [6]. Net Income and EBITDA - Net income for the third quarter of 2025 was $32.1 million, or $2.05 per diluted share, compared to $10.6 million, or $0.65 per diluted share, for the same period in 2024 [7]. - EBITDA for the third quarter of 2025 was $62.7 million, significantly higher than $37.2 million in the third quarter of 2024 [7]. Year-to-Date Performance - For the first nine months of 2025, MYR reported revenues of $2.68 billion, an increase of $151.8 million compared to the same period in 2024 [9]. - Consolidated gross profit for the first nine months of 2025 was $312.5 million, up from $204.4 million in the same period of 2024, with gross margin increasing to 11.6% from 8.1% [10]. Backlog and Future Outlook - As of September 30, 2025, MYR's backlog was $2.66 billion, a slight increase from $2.64 billion as of June 30, 2025, indicating continued demand for services [15]. - The company is well-positioned to capitalize on long-term growth opportunities driven by the accelerating pace of electrification and the need for resilient infrastructure [1].

Core Insights - MYR Group Inc. will release its third quarter 2025 results on October 29, 2025, after market close [1] - A conference call and webcast to discuss the results is scheduled for October 30, 2025, at 8 a.m. Mountain Time [1] Company Overview - MYR Group is a holding company of specialty electrical contractors operating in the U.S. and Canada, focusing on Transmission & Distribution (T&D) and Commercial & Industrial (C&I) segments [4] - The T&D segment provides services related to electric transmission, distribution networks, substations, clean energy projects, and electric vehicle charging infrastructure [4] - The C&I segment offers a wide range of services including design, installation, maintenance, and repair of commercial and industrial wiring for various facilities such as data centers, hospitals, and manufacturing plants [4]

Core Insights - MYR Group Inc. will participate in the Baird 2025 Global Industrial investor conference, scheduled for November 12, 2025, in Chicago, where the CEO and CFO will engage with institutional investors [1] Company Overview - MYR Group is a holding company specializing in electrical contracting services across the United States and Canada, operating through two main segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I) [2] - The T&D segment offers comprehensive services including design, engineering, procurement, construction, upgrade, maintenance, and repair for electric transmission, distribution networks, substations, clean energy projects, and electric vehicle charging infrastructure [2] - The C&I segment provides a wide range of services such as design, installation, maintenance, and repair of commercial and industrial wiring for various facilities including data centers, hospitals, hotels, and clean energy projects [2]

Core Viewpoint - MYR Group Inc. has appointed Aurelie Richard to its Board of Directors, effective August 26, 2025, enhancing the board's strategic and financial expertise [1][2]. Group 1: Appointment Details - Aurelie Richard will serve as a director and on the Audit Committee of MYR Group [1]. - Kenneth M. Hartwick, Chair of the Board, expressed confidence in Richard's leadership and her commitment to the company's growth strategy [2]. Group 2: Background of Aurelie Richard - Ms. Richard has over thirty years of experience in finance and management, currently serving as Chief Financial and Strategy Officer for S&C Electric Company [2]. - She has held various executive positions in Finance, Strategy, and Human Resources, with expertise in energy management and electrical distribution systems [2]. - Richard's educational background includes an undergraduate degree in accounting and finance, a CPA certification, and an MBA from EM Lyon Business School [3]. Group 3: Company Overview - MYR Group is a holding company of specialty electrical contractors operating in the U.S. and Canada, with two main business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I) [4]. - The T&D segment provides services related to electric transmission, distribution networks, and clean energy projects, serving a diverse range of customers including utilities and private developers [4]. - The C&I segment offers services for commercial and industrial wiring, including installations for data centers, hospitals, and electric vehicle charging infrastructure [4].

Company Overview - MYR Group Inc. is a holding company of leading specialty electrical contractors serving the electric utility infrastructure, commercial, and industrial construction markets in the United States and Canada [1] - The company operates through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I) [1] Business Segments - The T&D segment provides services on electric transmission, distribution networks, substation facilities, clean energy projects, and electric vehicle charging infrastructure [1] - Comprehensive T&D services include design, engineering, procurement, construction, upgrade, maintenance, and repair services [1] - C&I segment offers a broad range of services including design, installation, maintenance, and repair of commercial and industrial wiring for various facilities such as data centers, airports, hospitals, and clean energy projects [1] Recent Events - MYR Group will participate in the KeyBanc Taking Charge: Energy Transition Symposium investor conference on September 18, 2025 [1] - The CEO Rick Swartz and CFO Kelly Huntington will meet with institutional investors during this virtual event [1]

Core Insights - MYR Group Inc. reported strong financial performance in the second quarter of 2025, with revenues of $900.3 million, a net income of $26.5 million, and a backlog of $2.64 billion, indicating growth compared to the same period in 2024 [2][8][10]. Financial Performance - Second quarter 2025 revenues increased by $71.4 million compared to the second quarter of 2024, driven by growth in both the Transmission and Distribution (T&D) segment, which saw revenues of $506.3 million, and the Commercial and Industrial (C&I) segment, which reported revenues of $394.1 million [3][10]. - Consolidated gross profit for the second quarter of 2025 rose to $103.7 million, up from $40.8 million in the same quarter of 2024, with gross margin improving to 11.5% from 4.9% [4][11]. - For the first half of 2025, MYR reported revenues of $1.73 billion, an increase of $89.4 million compared to the first half of 2024, with net income reaching $49.8 million [10][15]. Cost and Expenses - Selling, general and administrative expenses (SG&A) increased to $63.3 million in the second quarter of 2025, primarily due to higher employee compensation costs [5][12]. - Interest expense rose to $1.9 million in the second quarter of 2025, attributed to higher average outstanding debt balances [6][13]. Tax and Net Income - The income tax expense for the second quarter of 2025 was $10.9 million, with an effective tax rate of 29.2%, compared to a tax benefit of $6.9 million in the same quarter of 2024 [7][14]. - Net income for the second quarter of 2025 was $26.5 million, or $1.70 per diluted share, a significant recovery from a net loss of $15.3 million in the second quarter of 2024 [8][29]. Backlog and Future Outlook - As of June 30, 2025, MYR's backlog stood at $2.64 billion, reflecting a 3.8% increase from the previous year, with T&D backlog at $926.5 million and C&I backlog at $1.72 billion [16]. - The company announced a new $75 million share repurchase program, replacing the previous program, which had been exhausted [18]. Balance Sheet - As of June 30, 2025, MYR had total assets of $1.59 billion and total shareholders' equity of $583.2 million [26][32].

Company Overview - MYR Group Inc. is a holding company of leading specialty electrical contractors serving the electric utility infrastructure, commercial, and industrial construction markets in the United States and Canada [4] - The company operates through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I) [4] - MYR Group's T&D segment provides services on electric transmission, distribution networks, substation facilities, clean energy projects, and electric vehicle charging infrastructure [4] - The C&I segment offers a broad range of services including design, installation, maintenance, and repair of commercial and industrial wiring for various facilities [4] Upcoming Financial Results - MYR Group will release its second quarter 2025 results on July 30, 2025, after market close [1] - A conference call and simultaneous webcast to discuss the results is scheduled for July 31, 2025, at 8 a.m. Mountain Time [1] Participation Information - Participants can join the conference call via telephone by registering in advance [2] - An audio-only webcast of the conference call will be accessible from the Investors page of MYR Group's website, with a replay available for seven days [3]

Core Points - MYR Group Inc. has signed a five-year Design-Build Electric Distribution Master Service Agreement (MSA) with Xcel Energy, expected to exceed $500 million in value over the contract period [1][2] - The MSA encompasses a range of services including permitting, right of way, public outreach, design, and construction across multiple states [1] - This agreement strengthens MYR Group's long-standing relationship with Xcel Energy and positions the company to support critical initiatives such as wildfire mitigation and infrastructure modernization [2] Company Overview - MYR Group Inc. operates as a holding company for specialty electrical contractors in the U.S. and Canada, divided into two segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I) [3] - The T&D segment provides services related to electric transmission, distribution networks, substations, clean energy projects, and electric vehicle charging infrastructure [3] - The C&I segment offers a wide range of services including design, installation, maintenance, and repair of commercial and industrial wiring for various facilities [3]

Company Overview - MYR Group Inc. is a holding company of leading specialty electrical contractors serving the electric utility infrastructure, commercial, and industrial construction markets in the United States and Canada [2] - The company operates through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I) [2] - MYR Group's T&D segment provides services related to electric transmission, distribution networks, substation facilities, clean energy projects, and electric vehicle charging infrastructure [2] - The C&I segment offers a wide range of services including design, installation, maintenance, and repair of commercial and industrial wiring for various facilities such as airports, hospitals, and manufacturing plants [2] Recent Developments - MYR Group announced its participation in the Baird 2025 Global Consumer, Technology & Services investor conference [1] - The conference will take place on June 4, 2025, in New York City, where the CEO and CFO will meet with institutional investors [1]