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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 Inc. (NASDAQ: MYRG) announced a significant contract through its subsidiary, CSI Electrical Contractors, with a renewable energy developer for a solar project in California. Valued at over $100 million, the project includes a 110MWDC solar installation and a 280MWh battery storage system. Engineering, procurement, and construction services will be provided by CSI, with project ground-breaking set for spring 2022 and expected completion in early 2023. This initiative aligns with MYR Group's strategy to enhance its capabilities in the renewable energy sector.
MYR Group Inc. (NASDAQ: MYRG), a leader in electric utility infrastructure and construction services, will attend the D.A. Davidson 20th Annual Diversified Industrials & Services Conference. CEO Rick Swartz and CFO Betty Johnson will meet with institutional investors virtually on September 23, 2021. This event is exclusive to D.A. Davidson clients. MYR Group specializes in electrical installations and services for commercial and industrial markets, serving a wide range of customers including utilities and developers across the U.S. and Canada.
MYR Group (NASDAQ: MYRG) will attend Morgan Stanley’s Virtual 9th Annual Laguna Conference on September 13, 2021. CEO Rick Swartz and CFO Betty Johnson will engage with institutional investors during this exclusive event. MYR Group specializes in electric utility infrastructure and industrial construction across the US and western Canada, providing comprehensive services including design, construction, and maintenance of electrical installations. MYR Group serves a diverse clientele including utilities, developers, and industrial owners. For further details, visit myrgroup.com.
MYR Group Inc. (MYRG) reported record second-quarter 2021 results, achieving revenues of $649.6 million, a 26.6% increase year-over-year. Net income reached $21.2 million or $1.24 per diluted share, marking a 58.5% increase compared to the previous year. EBITDA also increased to $41.2 million. The backlog stood strong at $1.57 billion. Key growth drivers include grid modernization and clean energy initiatives. However, selling, general, and administrative expenses rose to $51.9 million, influenced by higher employee compensation costs.
MYR Group Inc. (NASDAQ: MYRG), a leading contractor for electric utility, commercial, and industrial construction, will release its second-quarter and first-half 2021 results on July 28, 2021, after market close. A conference call will be held on July 29, 2021, at 8:00 a.m. Mountain time to discuss the results. Interested parties can participate via telephone or access a live webcast through MYR's Investor Relations website. Replays of the conference call will be available until August 5, 2021.
MYR Group Inc. (NASDAQ: MYRG) announced its participation in Sidoti’s June 2021 Virtual Small Cap Conference, scheduled for June 24, 2021. The company’s CEO, Rick Swartz, and CFO, Betty Johnson, will engage with institutional investors during this event. MYR Group specializes in electric utility infrastructure and commercial construction services across the U.S. and western Canada, offering comprehensive installations, maintenance, and repair services for various clients, including utilities and industrial facility owners.
MYR Group has reported strong first-quarter 2021 financial results, with revenues reaching $592.5 million, marking a 14.3% increase year-over-year. The company achieved a record net income of $19.9 million or $1.17 per diluted share, along with EBITDA of $39.3 million. Backlog stood at $1.64 billion, reflecting a 6.7% increase compared to Q1 2020. The management emphasized market stability and opportunities driven by clean energy shifts and infrastructure investments. Despite increased SG&A expenses, effective tax rate improvements contributed to favorable income outcomes.
MYR Group Inc. (NASDAQ: MYRG) will release its first-quarter 2021 results on April 28, 2021, after market close. A conference call to discuss these results is scheduled for April 29, 2021, at 8:00 a.m. Mountain time. Participants can join via telephone or access a live webcast on MYR’s website. A replay of the call will be available until May 6, 2021. MYR Group specializes in electric utility infrastructure and commercial construction services across the U.S. and western Canada, offering comprehensive electrical installation services.
MYR Group Inc. (NASDAQ: MYRG) reported record fourth-quarter and full-year 2020 financial results, with Q4 revenues reaching $608.0 million, a 6.5% increase year-over-year. Net income for Q4 was $18.2 million, up 42.1%, with an EBITDA of $37.2 million. For the full year, revenues hit $2.25 billion, an 8.5% rise, while net income was $58.8 million. The company's backlog stood at $1.65 billion as of year-end. MYR anticipates continued growth driven by trends in transmission and distribution spending and opportunities in renewables.
MYR Group Inc. (MYRG) will announce its fourth-quarter and full-year 2020 results on March 3, 2021, after market close. A conference call to discuss results is scheduled for March 4, 2021, at 9:00 a.m. Central time. Participants can join via telephone or webcast. The call will feature insights into MYR Group's operations in electric utility infrastructure and commercial construction across the U.S. and western Canada.
Investors can access the webcast on MYR Group’s website.
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