MYR Group Inc (NASDAQ: MYRG) saw its stock soar 14.21% in intraday trading on Thursday, following the release of its impressive first-quarter 2025 financial results. The construction and engineering services provider significantly outperformed analyst expectations, demonstrating robust growth and operational efficiency.
For the quarter ended March 31, 2025, MYR Group reported adjusted earnings per share (EPS) of $1.45, handily beating the mean analyst estimate of $1.20. This represents a substantial improvement from the $1.12 EPS reported in the same quarter last year. The company's revenue also exceeded expectations, rising 2.2% year-over-year to $833.62 million, surpassing the analyst consensus of $785.93 million. MYR Group's net income for the quarter stood at a healthy $23.31 million.
The strong quarterly performance comes amid a challenging year for MYR Group's stock, which had fallen 15.6% year-to-date prior to this earnings release. However, the company has shown resilience, with shares rising 11.1% over the past quarter. Wall Street remains optimistic about MYR Group's prospects, with a median 12-month price target of $139.50 and a consensus "buy" recommendation from analysts. The construction and engineering sector's positive outlook further supports the company's growth potential, as evidenced by Baird maintaining its "Outperform" rating on the stock.
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