Did Slower Backlog Growth and Margin Strain Just Shift MYR Group's (MYRG) Investment Narrative?

Concerns are emerging that MYR Group’s slower backlog growth of 5.4% over two years and a weaker gross margin of 10.8% may not sustain prior revenue expectations, shifting its investment narrative. Despite solid 2025 earnings of US$3,657.89 million in sales and US$118.42 million in net income, profitability pressure due to rising costs and competition is a growing risk. Investors are urged to consider these factors, which could lead to an 8% downside to its current price from a fair value of $307.00.

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