MYRGMEDIUM SIGNALFINANCIAL10-K

MYRG delivered substantially higher gross profit performance while reducing debt levels and maintaining stable customer concentration patterns.

The meaningful expansion in gross profit suggests improved operational efficiency or favorable project mix, while the company simultaneously strengthened its balance sheet through debt reduction. The shift toward higher C&I segment revenue mix (45.3% vs 44.1% prior year) and reduced reliance on fixed-price contracts may indicate strategic positioning changes.

Comparing 2026-02-25 vs 2025-02-26View on EDGAR →
FINANCIAL ANALYSIS

MYRG demonstrated strong operational performance with gross profit expanding substantially year-over-year, while the company increased capital expenditures by 24% signaling continued investment in growth. The balance sheet strengthened notably with total debt declining over 20% to $59.0M and stockholders' equity growing 10% to $660.4M. This combination of improved profitability, controlled spending, and debt reduction reflects solid financial management and operational execution.

FINANCIAL STATEMENT CHANGES
Gross Profit
P&L
+46%
$290.3M→$423.8M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Capital Expenditure
Cash Flow
+24.3%
$75.9M→$94.4M

Capex increased 24.3% — ongoing investment in capacity or infrastructure for future growth.

Total Debt
Balance Sheet
-20.6%
$74.4M→$59.0M

Debt reduced 20.6% — deleveraging strengthens balance sheet and reduces financial risk.

Stockholders Equity
Balance Sheet
+10%
$600.4M→$660.4M

Equity base grew 10% — retained earnings accumulation or equity issuance strengthening the balance sheet.

LANGUAGE CHANGES
NEW — 2026-02-25
PRIOR — 2025-02-26
ADDED
As of February 20, 2026 there were 15,540,073 shares of the registrant s $0.01 par value common stock outstanding.
Both of our segments undertake a mix of projects of all sizes and complexity.
For the years ended December 31, 2025, 2024 and 2023, our top 10 customers accounted for 38.0%, 37.8%, and 37.9%, of our revenues, respectively.
For the years ended December 31, 2025, 2024 and 2023, no single customer accounted for more than 10.0% of annual revenues.
For the years ended December 31, 2025, 2024 and 2023, revenues derived from T D customers accounted for 54.7%, 55.9% and 57.3% of our total revenues, respectively, and revenues derived from C I customers accounted for 45.3%, 44.1% and 42.7% of our total revenues, respectively.
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REMOVED
As of February 21, 2025 there were 16,138,503 shares of the registrant s $0.01 par value common stock outstanding.
For the years ended December 31, 2024, 2023 and 2022, our top 10 customers accounted for 37.8%, 37.9%, and 35.4%, of our revenues, respectively.
For the years ended December 31, 2024, 2023 and 2022, no single customer accounted for more than 10.0% of annual revenues.
For the years ended December 31, 2024, 2023 and 2022, revenues derived from T D customers accounted for 55.9%, 57.3% and 58.0% of our total revenues, respectively, and revenues derived from C I customers accounted for 44.1%, 42.7% and 42.0% of our total revenues, respectively.
Fixed-price contracts accounted for 60.3% of total revenue for the year ended December 31, 2024, including 43.9% of our total revenue for our T D segment and 81.2% of our total revenue for our C I segment.
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