What Happened?
Shares of electrical construction and infrastructure services provider MYR Group (NASDAQ: MYRG) jumped 3.5% in the morning session after its subsidiary, Sturgeon Electric, announced the successful delivery of the largest standalone battery storage facility in Arizona.
The project, named Sierra Estrella, represented a significant undertaking for the company. This achievement highlighted MYR Group's strength in electrical construction and its work on critical power infrastructure. The news also built on a positive backdrop for the company, which operated in a growing transmission and distribution sector. In a previous quarter, the company had reported revenue growth of 7.0% compared to the same quarter of the prior year, and its earnings per share beat analyst expectations.
After the initial pop the shares cooled down to $235.51, up 4.2% from previous close.
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What Is The Market Telling Us
MYR Group’s shares are very volatile and have had 21 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 9 months ago when the stock gained 18.9% on the news that the company reported strong first quarter 2025 results which significantly beat analysts' revenue expectations and delivered EPS above Wall Street estimates. Guidance wasn't provided, but the growing backlog, nearly 9% year-on-year, offered a clear signal of steady demand and gave investors some visibility into near-term sales stability. Zooming out, we think this was a good quarter with some key areas of upside.
MYR Group is up 3.9% since the beginning of the year, and at $235.51 per share, it is trading close to its 52-week high of $235.84 from January 2026. Investors who bought $1,000 worth of MYR Group’s shares 5 years ago would now be looking at an investment worth $3,788.
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