MYR GROUP INC. — Form 8-K
Filed October 28, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 62/100
What the filing says
MYR Group reported Q3 2026 record revenues of $1.26B (+32.5% YoY), net income of $60.0M (+87% YoY, $3.82/share), and EBITDA of $110.0M. Backlog reached record $3.68B (+38.2% YoY), driven by Valley Electric and Comet Electric acquisition integration. Board approved a new $100M share repurchase program effective November 4, 2026, expiring November 3, 2027; funded from cash on hand and revolving credit. Total funded debt increased to $215.8M from $59.0M year-end 2025.
Why this rating
Strong organic and acquisition-driven growth, record backlog support forward earnings. Debt increased materially to fund acquisition; buyback signals confidence but uses liquidity. Relative to $2.4B market cap, $100M buyback = 4.2% of equity; Valley deal and debt increase are material capital changes warranting close monitoring.
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