MYR Group

What MYR Group does

MYR Group Inc. (NASDAQ: MYRG) is a publicly traded specialty electrical contractor founded in 1951, headquartered in Thornton, Colorado, with operations across the United States and Canada. The company operates through two segments: Transmission & Distribution (T&D), which delivers powerline and grid infrastructure construction for utility customers, and Commercial & Industrial (C&I), which serves commercial buildings, data centers, industrial facilities, airports, universities, and clean energy projects. Work is executed through wholly owned subsidiaries including Sturgeon Electric, The L.E. Myers Co., Harlan Electric Company, Powerline Plus Ltd. (acquired 2022), and the pending acquisition of Valley Electric and Comet Electric (expected to close July 2026). Underlying technology consists of electrical construction methods, transmission line installation, and increasingly prefabricated electrical assembly rather than a software or IP-based platform.

The company generates revenue primarily through project-based contracts and long-term master service agreements (MSAs) with investor-owned utilities, data center developers, and commercial/industrial customers. Notable engagements include a five-year, $500+ million design-build electric distribution MSA with Xcel Energy (construction beginning early 2026) and a $90 million data center project in Colorado executed by Sturgeon Electric. Revenue is recognized on a project basis, with pricing determined through competitive bidding and MSA frameworks rather than publicly disclosed schedules. As of Q1 2026, the company reported a record backlog of $2.84 billion, up 8% year-over-year, providing strong forward revenue visibility. The go-to-market is enterprise field sales targeting utilities and large commercial/industrial customers through direct bids and negotiated MSAs.

For FY2025, MYR Group reported record revenue of $3.66 billion, with LTM revenue of $3.82 billion as of March 31, 2026, and LTM net income of $141.9 million. Q1 2026 results showed revenue of $1 billion (up 20% year-over-year, beating consensus by 7.5%), operating margin expansion to 6.5% from 4.1% year-over-year, and EPS of $2.99 versus $2.06 consensus. The company pursues a rollup M&A strategy and reports approximately 88.9% institutional ownership with a market capitalization of approximately $7.5 billion as of June 2026.

Name

MYR Group

Legal name

MYR Group Inc.

Website

https://myrgroup.com

Company type

Public

Founded year

1951

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

MYR Group Inc. is a publicly traded specialty electrical contractor operating two segments: Transmission & Distribution and Commercial & Industrial. The company serves utilities, data center operators, and commercial/industrial customers across the United States and Canada, with FY2025 revenue of $3.66 billion.

Ownership category

akta.pro rank

Product category

Electrical Construction Services

NAICS

Electrical Contractors and Other Wiring Installation Contractors (23821), Electric Power Generation, Transmission and Distribution (2211), Electrical Contractors and Other Wiring Installation Contractors (238210)

akta.pro primary industry

Electrical Contracting & Wiring (IMAFALAA)

akta.pro secondary industries

T&D project/program management & owner’s engineering (EPCM/PMC) (EUADAKAF), Grid Interconnection & Collector Substation EPC (Utility-Scale Renewables) (EUAEABAK), T&D Reconductoring, Uprating & Dynamic Line Rating (DLR) Enablement (EUAEALAH), Medium/Low-Voltage Power Distribution (MCCs, Panels, UPS, Grounding) (EUAEAFAB)

Keywords

• Electrical construction services
• Transmission distribution infrastructure
• Utility electrical contracting
• Data center electrical services
• Grid modernization construction

Headquarters

HQ city

Rolling Meadows

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Others

Revenue model

1. Transmission & Distribution Services: Provides electrical transmission and distribution construction services for utility customers, including grid modernization, renewable energy connections, and infrastructure upgrades. Revenue is project-based and contract-driven, supported by long-term master service agreements with investor-owned utilities.
2. Commercial & Industrial Electrical Services: Provides electrical construction services for commercial, industrial, and data center projects. Includes design-build services, electrical installation for critical infrastructure, and complex commercial work. Revenue generated through project-based contracts with commercial customers and general contractors.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

MYR Group is a specialty electrical contractor providing electrical construction services through two operating segments: Transmission & Distribution (T&D), which delivers powerline and substation construction, grid modernization, and renewable energy connection work for electric utilities; and Commercial & Industrial (C&I), which provides electrical construction for data centers, airports, universities, industrial facilities, and other commercial customers. The company operates across the United States and Canada via wholly-owned subsidiaries, with work secured through project contracts and multi-year master service agreements.

Product overview

MYR Group is a specialty electrical contractor operating two main service segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). The company provides electrical construction services across the United States and Canada through multiple subsidiaries including Sturgeon Electric, The L.E. Myers Co., and Harlan Electric Company. MYR Group serves utility clients, industrial facilities, data centers, airports, universities, and clean energy projects. The company has expanded through acquisitions including Powerline Plus Ltd. (Canada, 2022) and is acquiring Valley Holdings Inc. with its Valley Electric and Comet Electric subsidiaries (2026) to strengthen its Western U.S. presence.

Differentiator

Problem solved

Functional benefit

Brands

• Sturgeon Electric: Electrical construction subsidiary of MYR Group, received NECA Safety Excellence recognition and Zero Injury designations.
• The L.E. Myers Co.
• Harlan Electric Company

Products and services

• Transmission & Distribution (T&D) Services Electrical transmission and distribution construction and maintenance services for utility customers, including powerline construction, substation work, grid modernization, and renewable energy interconnections. Sold to investor-owned electric utilities across the United States and Canada, primarily through long-term master service agreements and project contracts.
• Commercial & Industrial (C&I) Services Electrical construction services for commercial, industrial, and mission-critical facilities including data centers, airports, universities, industrial plants, and clean energy projects. Includes design-build delivery and is sold to general contractors, data center developers, and facility owners primarily across the Western United States and Southern California.

Quantifiable outcome

• Q1 2026 revenue of $1 billion, up 20% year-over-year, beating estimates by 7.5%
• +3 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Valley Holdings, Inc. (Valley Electric and Comet Electric)coreStrategic or Co-development Partner · 27 May 2026MYR Group entered into a definitive agreement to acquire Valley Holdings, Inc. and its subsidiaries Valley Electric and Comet Electric for approximately $328 million. The combined entities generated average annual revenues exceeding $400 million over the past two years. Valley Electric, founded in 1982 and headquartered in Everett, Washington, and Comet Electric, founded in 1976 and headquartered in Chatsworth, California, will expand MYR Group's Commercial & Industrial segment and geographic reach in the Western U.S. and Southern California markets. Expected to close around July 1, 2026.
• Powerline Plus Ltd.coreStrategic or Co-development Partner · 4 January 2022MYR Group acquired all shares of Powerline Plus Ltd. and its affiliate, companies based in Toronto, Ontario. The acquired companies had an annual revenue of approximately $80 million and provided electrical distribution construction services in Canada, enhancing MYR Group's service offerings and market position in the electric utility infrastructure sector.

Scale indicators8 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• MasTec: MasTec is an infrastructure construction company operating across communications, clean energy, pipeline, and power delivery end markets. Its Power Delivery segment competes with MYR Group's T&D business for utility and renewable interconnection projects, while its Clean Energy & Infrastructure overlap touches the C&I segment.
• Sterling Infrastructure: Sterling Infrastructure provides specialty services including e-infrastructure for data centers, transportation, and building solutions. Its E-Infrastructure segment directly competes with MYR Group's data center electrical work, and its specialty contracting model is operationally comparable.
• Primoris Services: Primoris Services provides infrastructure construction across utilities, energy, and civil markets with significant electrical T&D exposure. Its Utility segment directly competes for utility and renewable interconnection work, and its scale and project mix are closely comparable to MYR Group.
• Quanta Services: Quanta Services is the largest US specialty contractor for electric power, oil and gas, and renewable infrastructure with similar T&D and grid modernization exposure. It is the most direct public-market comparable to MYR Group's T&D segment and competes for many of the same utility MSAs and renewable interconnection projects.
• Comfort Systems USA: Comfort Systems USA is a national provider of mechanical and electrical contracting services for commercial, industrial, and institutional customers. Its electrical capabilities directly compete with MYR Group's C&I segment and it serves similar data center and commercial end markets.
• IES Holdings: IES Holdings is a national provider of electrical and mechanical infrastructure services for data centers, industrial, and commercial customers. Its Communications and Electrical Solutions segments directly overlap with MYR Group's C&I business, particularly in mission-critical data center work.
• EMCOR Group: EMCOR Group provides electrical and mechanical construction, building services, and industrial services through subsidiaries including Miller Electric and Hilvert. It competes directly with MYR Group's C&I segment for data center, commercial, and industrial electrical work and is a key public-market comparable for specialty electrical contracting.

Broad incumbents

• Granite Construction: Granite Construction is a diversified infrastructure contractor with materials, transportation, and water resources segments. While primarily civil rather than electrical, it competes with MYR Group for utility-related infrastructure work and serves many of the same Western US public-sector and developer customers.
• Fluor Corporation: Fluor Corporation is one of the largest global engineering, procurement, fabrication, construction, and maintenance firms. Its Energy Solutions and Mission Solutions segments overlap with MYR Group's utility T&D and grid modernization work, particularly for large-scale EPC-style projects.

Emerging players

• Dycom Industries: Dycom Industries is a specialty contractor primarily serving the telecommunications industry, with growing exposure to electrical infrastructure for wireline and wireless carriers. While its primary end market differs, its specialty contracting model, labor-driven cost structure, and backlog dynamics closely resemble MYR Group's operating model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/myrgroupinc
• Facebookfacebook.com/myrgroupinc

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MYR Group