MYR Group

MYR Group, Inc. is a holding company, which engages in the provision of electrical construction services. It operates through the Transmission and Distribution (T&D) and Commercial and Industrial (C&I) segments. The T&D segment offers a range of services on electric transmission and distribution networks and substation facilities. The C&I segment includes the design, installation, maintenance and repair of commercial and industrial wiring, installation of traffic networks and the installation of bridge, roadway, and tunnel lighting. The company was founded in 1995 and is headquartered in Thornton, CO.

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Earnings data Q4 2024

MYR Group reports record revenues and net income in Q4

MYR Group delivered strong financial performance in Q4 2022, with record revenues and net income.
Despite challenges like supply chain disruptions and inflation, the company maintains a robust backlog and liquidity position.
Strategic focus on clean energy and infrastructure projects offers promising growth opportunities for MYR Group.

MYR Group reports robust Q1 earnings amidst supply chain challenges

MYR Group's Q1 2023 performance reflected strong revenue growth but faced challenges with margin pressures and supply chain disruptions.
Despite these challenges, the company maintains a positive outlook, emphasizing customer relationships, market expansion, and operational efficiency.
Investors should monitor MYR Group's efforts to address supply chain issues and enhance margins while capitalizing on growth opportunities in clean energy projects.

MYR Group reports record revenues in Q2 2023 earnings call

MYR Group's Q2 2023 performance was strong, marked by record revenues and backlog growth. Despite challenges in gross margin and cash flow, the company's focus on client relationships, clean energy projects, and growth opportunities in EV charging stations positions it well for future success.

MYR Group reports record revenues in Q3 amidst margin challenges

MYR Group's Q3 2023 performance showcased strong revenue growth but faced margin pressures. The company's focus on electrification and clean energy aligns with market trends, while strategic investments in infrastructure and diverse market segments position MYR Group for future growth.

MYR Group reports record revenues in Q4 2023 earnings call

MYR Group delivered strong financial performance in Q4 2023, with record revenues and a focus on managing expenses in line with revenue growth.
While facing challenges in gross margin and operational efficiency, the company's strategic focus on workforce, technology, and debt management presents opportunities for future growth.
Overall, MYR Group's emphasis on organic growth, financial discipline, and operational improvements positions them well for sustained success in the coming year.

MYR Group reports steady Q1 revenue growth amidst operational challenges

MYR Group's Q1 2024 performance reflects mixed results with revenue growth in T&D but decline in C&I, impacting overall profitability.
While gross margin and C&I operating income margin improved, challenges like labor inefficiencies and cash flow decline need attention.
The company's backlog provides a strong foundation for future revenue, highlighting potential for growth with strategic operational enhancements.

MYR Group reports Q2 revenue decline, focuses on backlog strength

MYR Group faced revenue declines and margin pressures in Q2 2024, leading to a net loss of $15 million.
However, the company showed strength in backlog levels and improved operating cash flow compared to the previous year.
Challenges in operating margins highlight the need for strategic adjustments, while opportunities exist in leveraging core competencies and exploring new markets.

MYR Group reports mixed Q3 results, focuses on cash flow

MYR Group faced revenue declines in Q3 2024, with T&D segment struggling but C&I segment showing strength.
Profitability was impacted by lower gross margin and net income, although operating cash flow improved significantly.
The company's total backlog remained strong at $2.6 billion, providing a foundation for future growth opportunities.
Addressing challenges in the T&D segment and capitalizing on positive cash flows can drive MYR Group's performance.

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THORNTON, Colo., Dec. 09, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the Goldman Sachs Energy, CleanTech & Utilities Conference. MYR Group's Chief Executive Officer, Rick Swartz, and Chief Financial Officer, Kelly Huntington, will meet with institutional investors during the Goldman Sachs Energy, CleanTech & Utilities Conference on Tuesday, Jan. 7, 2025, in Aventura, Fla. This event is only available to Goldman Sachs clients.

MYR Group Inc. to Attend Goldman Sachs Energy, CleanTech & Utilities Conference in January

THORNTON, Colo., Nov. 13, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will participate in the Oppenheimer Midwest Virtual Summit. MYR Group's Chief Executive Officer, Rick Swartz, and Chief Financial Officer, Kelly Huntington, will virtually meet with institutional investors during the Oppenheimer Midwest Virtual Summit investor conference on Wednesday, Dec. 11, 2024. This event is only available to Oppenheimer clients.

MYR Group Inc. to Participate in Oppenheimer Midwest Virtual Summit Investor Conference in December

THORNTON, Colo., Nov. 07, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the Janney 2nd Annual Clean Energy Investment Symposium. MYR Group's Chief Executive Officer, Rick Swartz, and Chief Financial Officer, Kelly Huntington, will meet with institutional investors during the Janney Clean Energy Investment Symposium investor conference on Thursday, Dec. 5, 2024, in New Orleans. This event is only available to Janney clients.

MYR Group Inc. to Attend Janney Annual Clean Energy Investment Symposium Investor Conference in December

THORNTON, Colo., Nov. 06, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the UBS Global Industrials and Transportation Conference. MYR Group's Chief Executive Officer, Rick Swartz, and Chief Financial Officer, Kelly Huntington, will meet with institutional investors during the UBS Global Industrials and Transportation investor conference on Wednesday, Dec. 4, 2024, in Palm Beach, Fla. This event is only available to UBS clients.

MYR Group Inc. to Attend UBS Global Industrials and Transportation Conference in December

MYR Group Inc (NASDAQ:MYRG ) Q3 2024 Results Conference Call October 31, 2024 10:00 AM ET Company Participants David Gutierrez - Dresner Corporate Services Richard Swartz - President & Chief Executive Officer Kelly Huntington - Senior Vice President and Chief Financial Officer Brian Stern - SVP and Chief Operating Officer, Transmission and Distribution Segment Don Egan - SVP and Chief Operating Officer, Commercial and Industrial Segment Conference Call Participants Atidrip Modak - Goldman Sachs Sangita Jain - KeyBanc Capital Markets Justin Hauke - Baird Brian Brophy - Stifel Jon Braatz - Kansas City Capital Operator Good day, and thank you for standing by. Welcome to the MYR Group Third Quarter 2024 Conference Call.

MYR Group Inc (MYRG) Q3 2024 Earnings Call Transcript

MYR Group (MYRG) came out with quarterly earnings of $0.65 per share, beating the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $1.28 per share a year ago.

MYR Group (MYRG) Q3 Earnings Top Estimates

THORNTON, Colo., Oct. 30, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced today its third-quarter and first nine-months 2024 financial results.

MYR Group Inc. Announces Third-Quarter and First Nine-Months 2024 Results

THORNTON, Colo., Oct. 23, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the 2024 Stephens Annual Investment Conference. MYR Group's Chief Executive Officer, Rick Swartz, and Chief Financial Officer, Kelly Huntington, will meet with institutional investors during the Stephens Annual Investment conference on Wednesday, Nov. 20, 2024, in Nashville, Tenn. This event is only available to Stephens clients.

MYR Group Inc. to Attend Stephens Annual Investment Conference in November

THORNTON, Colo., Oct. 16, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will release its third-quarter 2024 results on Wednesday, Oct. 30, 2024, after the market closes. In conjunction with the release, MYR Group has scheduled a conference call and simultaneous webcast to discuss results on Thursday, Oct. 31, 2024, at 8:00 a.m. Mountain time.

MYR Group Inc. Announces Third-Quarter 2024 Earnings Release and Conference Call Schedule

THORNTON, Colo., Oct. 11, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the Baird 2024 Global Industrial Conference. MYR Group's Chief Executive Officer, Rick Swartz, and Chief Financial Officer, Kelly Huntington, will meet with institutional investors during the Baird Global Industrial investor conference on Tuesday, Nov. 12, 2024, in Chicago. This event is only available to Baird clients.

MYR Group Inc. to Attend Baird Global Industrial Investor Conference in November

MYR Group is well-positioned to flourish as the U.S. electrical infrastructure steps up to accommodate our growing digital era (including AI). But MYR Group's margins and year-to-year EPS comparisons have recently been plagued by operating issues, especially in the 2024 second quarter. I don't usually obsess over occasional bad results.

MYR Group Is A Company For Our Times, But It's Not Now Time For The Stock

Investors need to pay close attention to MYR Group (MYRG) stock based on the movements in the options market lately.

Is the Options Market Predicting a Spike in MYR Group (MYRG) Stock?

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MYR Group Inc. (NASDAQ:MYRG ) Q2 2024 Earnings Conference Call August 1, 2024 10:00 AM ET Company Participants David Gutierrez - Dresner Corporate Services Rick Swartz - President and Chief Executive Officer Kelly Huntington - Senior Vice President and Chief Financial Officer Brian Stern - Senior Vice President and Chief Operating Officer, Transmission and Distribution Segment Don Egan - Senior Vice President and Chief Operating Officer, Commercial and Industrial Segment Conference Call Participants Sangita Jain - KeyBanc Capital Markets Ati Modak - Goldman Sachs Justin Hauke - Baird Brian Brophy - Stifel Jon Braatz - Kansas City Capital Operator Good morning, everyone, and welcome to the MYR Group Second Quarter 2024 Earnings Results Conference Call. [At this time, all participants are in a listen-only mode.

MYR Group Inc. (MYRG) Q2 2024 Earnings Call Transcript

MYR Group (MYRG) came out with a quarterly loss of $0.91 per share versus the Zacks Consensus Estimate of $1.07. This compares to earnings of $1.33 per share a year ago.

MYR Group (MYRG) Reports Q2 Loss, Lags Revenue Estimates

THORNTON, Colo., July 31, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced today its second-quarter and first-half 2024 financial results.

MYR Group Inc. Announces Second-Quarter and First-Half 2024 Results

MYR (MYRG) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

MYR Group (MYRG) Expected to Beat Earnings Estimates: Should You Buy?

MYR (MYRG) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

Why MYR (MYRG) Could Beat Earnings Estimates Again

THORNTON, Colo., July 17, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will release its second-quarter 2024 results on Wednesday, July 31, 2024, after the market closes. In conjunction with the release, MYR Group has scheduled a conference call and simultaneous webcast to discuss results on Thursday, Aug. 1, 2024, at 8:00 a.m. Mountain time.

MYR Group Inc. Announces Second-Quarter 2024 Earnings Release and Conference Call Schedule

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MYRG's profitability margins have contracted, but they were modest. The decrease was due to rising costs caused by supply chain issues, inflation, and inclement weather. MYRG's profitability margins have contracted, but they were modest. The decrease was due to rising costs caused by supply chain issues, inflation, and inclement weather. The shift towards clean energy and the growing demand for data centres are expected to bolster MYR Group's outlook and provide tailwinds for its growth.

MYR Group: Shift Towards Clean Energy And Growing Demand For Data Centre

THORNTON, Colo., May 15, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will participate in the 2024 Sidoti Small Cap Conference. MYR Group's Chief Executive Officer, Rick Swartz, and Chief Financial Officer, Kelly Huntington, will meet virtually with institutional investors during the Sidoti Small Cap investor conference on Wednesday, June 12, 2024. This event is only available to Sidoti clients.

MYR Group Inc. to Participate in Sidoti Small Cap Investor Conference in June

THORNTON, Colo., May 13, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the 2024 Wells Fargo Industrials Conference. MYR Group's Chief Executive Officer, Rick Swartz, and Chief Financial Officer, Kelly Huntington, will meet with institutional investors during the Wells Fargo Industrials investor conference on Tuesday, June 11, 2024, in Chicago. This event is only available to Wells Fargo clients.

MYR Group Inc. to Attend Wells Fargo Industrials Investor Conference in June

THORNTON, Colo., May 09, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the Stifel 2024 Cross Sector Insight Conference. MYR Group's Chief Executive Officer, Rick Swartz, and Chief Financial Officer, Kelly Huntington, will meet with institutional investors in Boston on Wednesday, June 5, 2024. This event is only available to Stifel clients.

MYR Group Inc. to Attend Stifel Cross Sector Insight Investor Conference in June

THORNTON, Colo., May 06, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group” or the “Company”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced today a new share repurchase program (“Repurchase Program”). The Repurchase Program authorizes the Company to repurchase, in the aggregate, up to $75.0 million of its outstanding shares of common stock from time to time on the open market or in privately negotiated transactions, based on market and business conditions, applicable contractual and legal requirements and other factors in accordance with applicable federal securities laws. The Repurchase Program will expire on November 8, 2024, or when the authorized funds are exhausted, whichever is earlier. The Company is not obligated to acquire any specific amount of common stock, and the Company's Board of Directors may modify or terminate the Repurchase Program at any time at its sole discretion without notice. The Company intends to fund the Repurchase Program with cash on hand and through borrowings under its credit facility. The Repurchase Program was authorized by the Board of Directors and will be effective on May 9, 2024. The Company's prior $75.0 million repurchase program commenced on November 9, 2023 and is scheduled to expire on May 8, 2024.

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