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MYR Group Inc. (NASDAQ: MYRG) is a prominent specialty contractor that delivers comprehensive electrical construction services through its subsidiaries. This U.S.-based holding company operates primarily in two segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). The T&D segment focuses on the design, engineering, procurement, construction, upgrade, maintenance, and repair of transmission and distribution networks, including substation facilities. The C&I segment offers services such as commercial and industrial wiring, installation of traffic networks, bridges, and more.
MYR Group boasts a robust portfolio of subsidiaries, including The L.E. Myers Co., Sturgeon Electric Company, Inc., Harlan Electric Company, MYR Transmission Services, Inc., Great Southwestern Construction, Inc., E.S. Boulos Company, and MYR Group Construction Canada, Ltd. Notably, MYR Group Construction Canada, Ltd. incorporates two subsidiaries: Northern Transmission Services, Ltd. and MYR Transmission Services Canada, Ltd.
With a highly skilled workforce and an extensive array of specialized transmission and distribution equipment, MYR Group has been instrumental in building and maintaining electrical infrastructure across North America. They cater to a diverse clientele, including investor-owned utilities, government-funded utilities, private developers, and industrial facility owners.
Recent achievements underscore MYR Group's commitment to growth and excellence. They reported record revenues of $3.64 billion for the full year of 2023, reflecting a 21.1 percent increase compared to the previous year. The company's strategic initiatives, strong balance sheet, and steady backlog of $2.51 billion highlight its readiness for future expansion.
MYR Group's ongoing projects span a broad spectrum, including clean energy initiatives and electric vehicle charging infrastructure. Their dedication to quality, safety, and customer service has cemented their reputation as a leader in the electrical construction industry.
MYR Group (NASDAQ: MYRG) reported its Q4 and full-year 2024 financial results, along with a new $75 million share repurchase program. Q4 2024 showed revenues of $829.8M (down 17.4% YoY), net income of $16.0M ($0.99 per diluted share), and EBITDA of $45.5M.
Full-year 2024 results included revenues of $3.36B (down 7.7% YoY), net income of $30.3M ($1.83 per diluted share), and EBITDA of $117.8M. The company maintained a strong backlog of $2.58B, reflecting ongoing infrastructure investment opportunities.
The T&D segment reported quarterly revenues of $450.0M (down 23.9% YoY), while C&I segment revenues were $379.8M (down 8.0% YoY). Gross margin improved to 10.4% in Q4 2024 from 9.7% in Q4 2023, despite challenges with certain clean energy projects.
MYR Group (NASDAQ: MYRG), a leading specialty contractor in electric utility infrastructure and commercial/industrial construction across the US and Canada, has announced its participation in the upcoming Sidoti Small-Cap Virtual Conference. The company's CEO Rick Swartz and CFO Kelly Huntington will engage with institutional investors in virtual meetings scheduled for Wednesday, March 19, 2025. The conference is exclusively available to Sidoti clients.
MYR Group (NASDAQ: MYRG), a holding company of specialty contractors serving electric utility infrastructure and commercial/industrial construction markets in the United States and Canada, has announced its upcoming fourth quarter and full year 2024 earnings release schedule. The company will release its financial results on Wednesday, February 26, 2025, after market close.
A conference call and simultaneous webcast to discuss the results is scheduled for Thursday, February 27, 2025, at 8 a.m. Mountain time. Interested participants can register in advance for the telephone conference through a provided registration link. The webcast will be accessible from MYR Group's website Investors page, with a replay available for seven days following the event.
MYR Group (NASDAQ: MYRG), a leading specialty contractor in electric utility infrastructure and commercial/industrial construction across the US and Canada, has announced its participation in the upcoming Cantor Global Technology Conference.
The company's CEO Rick Swartz and CFO Kelly Huntington will engage with institutional investors during the inaugural conference, scheduled for March 12, 2025, in New York. The event is exclusively available to Cantor clients.
MYR Group (NASDAQ: MYRG), a leading specialty contractor in electric utility infrastructure and construction, has announced its participation in the upcoming Goldman Sachs Energy, CleanTech & Utilities Conference. The company's CEO Rick Swartz and CFO Kelly Huntington will engage with institutional investors during the conference, scheduled for January 7, 2025, in Aventura, Florida. The event is exclusively available to Goldman Sachs clients. MYR Group operates across the United States and Canada, serving electric utility infrastructure, commercial, and industrial construction markets.
MYR Group (NASDAQ: MYRG), a specialty contractor holding company in electrical infrastructure and construction, announced its participation in the Oppenheimer Midwest Virtual Summit. CEO Rick Swartz and CFO Kelly Huntington will conduct virtual meetings with institutional investors on December 11, 2024. The summit, exclusively available to Oppenheimer clients, will focus on the company's operations in electric utility infrastructure and commercial/industrial construction across the United States and Canada.
MYR Group Inc. (NASDAQ: MYRG), a leading specialty contractor serving the electric utility infrastructure, commercial, and industrial construction markets in the U.S. and Canada, announced its participation in the Janney 2nd Annual Clean Energy Investment Symposium. The event will take place on December 5, 2024, in New Orleans. CEO Rick Swartz and CFO Kelly Huntington will represent MYR Group and engage with institutional investors. The symposium is exclusively accessible to Janney clients.
MYR Group (NASDAQ: MYRG), a leading specialty contractor in electric utility infrastructure and commercial/industrial construction across the US and Canada, has announced its participation in the UBS Global Industrials and Transportation Conference. CEO Rick Swartz and CFO Kelly Huntington will engage with institutional investors at the event on December 4, 2024, in Palm Beach, Florida. The conference is exclusively available to UBS clients.
MYR Group reported third-quarter 2024 financial results with revenues of $888.0 million, down 5.5% year-over-year. Net income decreased to $10.6 million ($0.65 per diluted share) from $21.5 million ($1.28 per diluted share) in Q3 2023. The T&D segment revenue declined 12.2% to $481.9 million, while C&I segment revenue increased 3.9% to $406.2 million. Gross margin decreased to 8.7% from 9.8% year-over-year. The company maintained a strong backlog of $2.60 billion as of September 30, 2024.
MYR Group (NASDAQ: MYRG), a specialty contractor holding company in electrical infrastructure and construction, has announced its participation in the 2024 Stephens Annual Investment Conference. The company's CEO Rick Swartz and CFO Kelly Huntington will engage with institutional investors during the conference, scheduled for November 20, 2024, in Nashville, Tennessee. The event is exclusively available to Stephens clients. MYR Group operates in both the United States and Canada, serving electric utility infrastructure and commercial and industrial construction markets.
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