MYR Group (MYRG) Sets Earnings Date As Investors Ask If Grid Growth Is Already Priced In
MYR Group (MYRG) has set July 29, 2026, after the market close for its second quarter earnings release, with a follow up conference call and webcast scheduled the next morning for investors.
See our latest analysis for MYR Group.
MYR Group’s share price is US$414.98 after easing over the past month with a 30 day share price return down 7.77%, although the 90 day share price return of 31.63% and 1 year total shareholder return of 118.92% point to strong longer term momentum.
If this kind of move has you thinking about other power infrastructure and grid related plays, it could be a good moment to scan 34 power grid technology and infrastructure stocks
Bulls see MYR Group as a high quality contractor benefiting from strong grid spending, while bears point to the sharp run and valuation risk after the pullback. How do the current earnings and cash flow multiples compare?
Most Popular Narrative: 8.8% Undervalued
Against MYR Group’s last close of $414.98, the most followed narrative points to a fair value of $455, framing the current valuation debate ahead of the earnings release.
Significant multi-year utility contracts (notably the new 5 year master service agreement with Xcel Energy and others in the Northeast/Midwest) are set to expand recurring revenues and improve backlog visibility, supporting higher future revenue and greater earnings predictability.
Read the complete narrative. Read the complete narrative.
Want to understand why this narrative still sees upside for MYR Group even after a strong 1 year total return? The entire fair value hinges on how confidently analysts are underwriting future revenue growth, fatter margins and the profit multiple they believe the market will support years from now. The tension between those embedded assumptions and today’s premium price tag is where the real story lives.
Result: Fair Value of $455 (UNDERVALUED)
Have a read of the narrative in full and understand what's behind the forecasts.
However, this MYR Group narrative could be tested if labor cost inflation squeezes project margins or if a lumpy C&I backlog leads to more volatile cash flows.
Find out about the key risks to this MYR Group narrative.
Another View On MYR Group’s Valuation
The narrative fair value of $455 paints MYR Group as about 8.8% undervalued, but the earnings multiple tells a tougher story. At a P/E of 45.5x versus a fair ratio of 32.5x and a peer average of 27.8x, the stock screens as expensive, raising the question of how much future success is already priced in.
Our DCF model also points to caution, with MYR Group trading at $414.98 compared with an SWS DCF fair value estimate of $370.68. This implies the shares are overvalued on that lens and invites you to ask which signal you trust more for the long haul.
Look into how the SWS DCF model arrives at its fair value.
Next Steps
Reading all this about MYR Group and wondering whether the optimism outweighs the concerns? Take a moment to review the numbers, weigh the potential risks and rewards, and then check out the 2 key rewards and 1 important warning sign.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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