MYRGHIGH SIGNALFINANCIAL10-K

MYRG delivered exceptional financial performance with net income surging 291% to $118.4M and cash position exploding from $3.5M to $150.2M.

This represents a dramatic operational turnaround with operating income more than doubling and operating cash flow increasing 275%, suggesting the company has achieved significant efficiency gains or won major new contracts. The massive cash increase combined with debt reduction of 21% substantially strengthens the balance sheet and provides considerable financial flexibility for growth investments or shareholder returns.

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

MYRG experienced explosive financial growth across all key metrics, with net income nearly quadrupling to $118.4M, operating income more than doubling to $166.9M, and gross profit increasing 46% to $423.8M. The company's cash position skyrocketed over 4,000% to $150.2M while simultaneously reducing total debt by 21% to $59.0M, creating a dramatically stronger balance sheet. This comprehensive financial transformation, supported by operating cash flow increasing 275% to $326.6M, signals either exceptional contract wins, major operational improvements, or potentially a significant one-time event that has fundamentally strengthened the company's financial position.

FINANCIAL STATEMENT CHANGES
Cash & Equivalents
Balance Sheet
+4234.8%
$3.5M→$150.2M

Cash position surged 4234.8% — strong cash generation or capital raise providing significant financial cushion.

Net Income
P&L
+291.3%
$30.3M→$118.4M

Net income grew 291.3% — bottom-line growth signals improving overall business health.

Operating Cash Flow
Cash Flow
+274.9%
$87.1M→$326.6M

Operating cash flow surged 274.9% — exceptional cash generation, highest quality earnings signal.

Operating Income
P&L
+208.6%
$54.1M→$166.9M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

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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