MYR Group, Inc. - MYRG STOCK NEWS

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.

MYR Group Inc. (MYRG) reported record third-quarter 2020 revenues of $607.9 million, a 4.2% increase year-over-year, alongside a net income of $17.3 million, or $1.02 per diluted share, marking a 67% rise. EBITDA reached $36.2 million, reflecting a 28.4% increase. The backlog grew to $1.72 billion, a 25.9% increase compared to 2019. SG&A expenses increased to $51.4 million due to higher employee-related costs. MYR's strategic moves during the COVID-19 pandemic have strengthened its market position.

MYR Group Inc. (NASDAQ: MYRG) has announced a new share repurchase program, authorizing the buyback of up to $50 million in common stock. The program, which will commence on November 2, 2020, will be funded through cash on hand and borrowings. The Board's decision reflects confidence in the company's long-term strategy and its belief that MYR's shares are a good investment opportunity. CEO Rick Swartz emphasized the aim of increasing shareholder value while maintaining a strong balance sheet for growth.

MYR Group Inc. (NASDAQ: MYRG) announced the release of its third-quarter 2020 results on October 28, 2020, after market close. A conference call is scheduled for October 29, 2020, at 9:00 a.m. Central time to discuss the results. Interested participants can join via telephone or access a live webcast through the company's website. MYR Group is a holding company that serves the electric utility infrastructure and commercial construction markets across the United States and western Canada, providing electrical installation, maintenance, and repair services.

MYR Group (MYRG) has secured a contract valued over $250 million with LS Power Grid New York for the Marcy to New Scotland Upgrade Project in New York. The project involves nearly 100 miles of 345-kV transmission construction. MYR Group will provide comprehensive services, including project and construction management, scheduled to start in early 2021 and aiming for a completion date by the end of 2023. The project is expected to enhance power grid reliability and facilitate access to renewable energy.

MYR Group Inc. (MYRG) announced strong second-quarter 2020 results with revenues of $513.1 million, a 14.3% increase from Q2 2019, and net income of $13.4 million, or $0.80 per diluted share. The company reported an EBITDA of $31.5 million and a record backlog of $1.55 billion. The increase in revenues was driven by both Transmission and Distribution (T&D) and Commercial and Industrial (C&I) segments. Despite a moderate project slowdown due to COVID-19, MYR remains confident in its future performance, supported by its critical role in electric infrastructure construction.