Filing Flows › MYR Group (MYRG) › Q4 2025
MYR Group (MYRG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
MYR Group (MYRG) reported revenue of $974M for the fourth quarter 2025 (Q4 2025), +17% from a year earlier and +2% from the quarter before. Operating margin was 4.8%, net earnings $36.5M (3.8% of revenue).
MYR Group, Q4 2025: revenue $974M (+17% year over year), operating margin 4.8%, net earnings $36.5M, operating cash flow $115M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $974M | +2% | +17% |
| Gross profit | $111M | -0.5% | +29% |
| Operating profit | $46.5M | +0.5% | +54% |
| Net earnings | $36.5M | +14% | +129% |
| Operating cash flow | $115M | +20% | +444% |
| Free cash flow | $84.9M | +30% | +863% |
What changed
Revenue was $973.5M in Q4 2025, up 17% year over year and up 2% from the previous quarter. T&D was the largest line at 55% of revenue.
Gross margin was 11.4%, up 1.1 points from a year earlier. Operating profit was $46.5M, a 4.8% margin (up 1.1 points year over year). Of the extra revenue versus a year earlier, 11% reached operating profit, above the 4% margin then. Operating expenses grew 16% against revenue growth of 17%. Net earnings were $36.5M, up 129% year over year. The effective tax rate was 21.2%.
Operating cash flow was $114.8M (up 444% year over year), 314% of net earnings. Non-cash charges added back $17.2M of depreciation and amortization and $5.0M of share-based compensation. Working capital and other items added $56.0M. Capital expenditures of $29.9M left free cash flow of $84.9M.
Questions
What was MYR Group's revenue in the fourth quarter 2025?
MYR Group (MYRG) reported revenue of $974M for the fourth quarter 2025 (Q4 2025), +17% from a year earlier and +2% from the quarter before.
Was MYR Group profitable in the fourth quarter 2025?
Operating profit was $46.5M (4.8% of revenue) and net earnings $36.5M.
Source: MYR Group 10-K on SEC EDGAR.