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Mar 31, 2025
MYR Group Q1 2025 Earnings Report
MYR Group reported solid financial results for the first quarter of 2025, with increases in revenue, net income, and consolidated gross profit compared to the same period of 2024.
Key Takeaways
MYR Group announced its first quarter 2025 financial results, reporting quarterly revenues of $833.6 million, a net income of $23.3 million, and EBITDA of $50.2 million. Backlog stood at $2.64 billion as of March 31, 2025.
Quarterly revenues increased to $833.6 million, up $18.0 million from Q1 2024.
Net income rose to $23.3 million, or $1.45 per diluted share, compared to $18.9 million, or $1.12 per diluted share, in Q1 2024.
EBITDA increased to $50.2 million for the first quarter of 2025, up from $39.8 million in the prior year period.
Backlog as of March 31, 2025, was $2.64 billion, an increase from $2.43 billion reported at March 31, 2024.
Revenue by Segment
Forward Guidance
Bidding activity remains healthy across both business segments, and the company continues expanding strong customer relationships through master service agreements, performing ongoing work for long-term customers, and strategically exploring new opportunities to drive sustained growth.
Positive Outlook
- Healthy bidding activity across both T&D and C&I segments.
- Expanding strong customer relationships through master service agreements.
- Performing ongoing work for long-term customers.
- Strategically exploring new opportunities for sustained growth.
- Backlog growth reflects investments to meet growing electrification demand.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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