MYR Group Inc's stock soared 5.03% in post-market trading, driven by the company's impressive first-quarter fiscal 2026 earnings results that significantly exceeded analyst expectations.

The specialty electrical contractor reported quarterly earnings of $2.99 per share, beating the consensus estimate of $2.00 by 49.5% and representing a 106.21% increase from the same period last year. Revenue climbed 20% to $1 billion, surpassing the $930.73 million analyst estimate, while net income more than doubled to $46.8 million.

Additional positive indicators included a 62.5% jump in EBITDA to $81.5 million, improved gross margin of 13.4%, and a record backlog of $2.84 billion that increased 7.7% year-over-year. CEO Rick Swartz attributed the momentum to higher revenue and gross profit, supported by deeper strategic customer relationships and investments to expand the company's geographic footprint and market reach.