What Happened?
Shares of electrical construction and infrastructure services provider MYR Group (NASDAQ:MYRG) jumped 18.9% in the afternoon session after 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.
Is now the time to buy MYR Group? Access our full analysis report here, it’s free.
What The Market Is Telling Us
MYR Group’s shares are very volatile and have had 24 moves greater than 5% over the last year. But moves this big are rare even for MYR Group and indicate this news significantly impacted the market’s perception of the business.
MYR Group is down 2.6% since the beginning of the year, and at $144.02 per share, it is trading 14.4% below its 52-week high of $168.18 from December 2024. Investors who bought $1,000 worth of MYR Group’s shares 5 years ago would now be looking at an investment worth $5,177.
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.