MYR Group Inc. reports developments for a specialty electrical construction holding company serving electric utility infrastructure, commercial construction, and industrial construction markets in the United States and Canada. Its operating updates center on Transmission and Distribution work for electric networks and substations, along with Commercial and Industrial projects.
Recurring news themes for MYRG include quarterly and full-year financial results, segment revenue trends, backlog, project demand, earnings call schedules, and investor conference participation. Company updates also discuss services such as design, engineering, procurement, construction, upgrades, maintenance, and repair across its utility and construction end markets.
MYR Group Inc. (MYRG) reported strong fourth-quarter and full-year 2021 results, achieving record revenues of $2.50 billion for the year, marking an 11.2% increase over 2020. The fourth quarter saw revenues of $646.0 million and net income of $20.7 million, a 14.0% increase year-over-year. EBITDA for the fourth quarter was $41.4 million, while full-year EBITDA reached $164.2 million. The company maintained a strong backlog of $1.79 billion, emphasizing its robust market position and growth prospects.
MYR Group Inc. (MYRG) will announce its fourth-quarter and full-year 2021 financial results on February 23, 2022, after market close. A conference call and webcast to discuss these results is scheduled for February 24, 2022, at 8:00 a.m. Mountain time. Participants can join the call via telephone by dialing (877) 561-2750 for domestic callers or (763) 416-8565 for international calls, using conference ID 8097179. The call will also be available for replay until March 3, 2022.
MYR Group Inc. (NASDAQ: MYRG) announced the acquisition of Powerline Plus Ltd. and its affiliate by its Canadian subsidiary, MYR Group Construction Canada, Ltd. This deal enhances MYR's Transmission & Distribution segment, expanding its service offerings and geographic reach. Powerline Plus, founded in 1990, generated average annual revenues of approximately $80 million over the last two years. The integration aims to leverage Powerline Plus's experienced workforce and diverse project portfolio, strengthening MYR's position in the electrical distribution construction market.
MYR Group (NASDAQ: MYRG) announced its participation in the Credit Suisse 9th Annual Industrials Conference on December 1, 2021. The event will feature CEO Rick Swartz and CFO Betty Johnson meeting virtually with institutional investors. MYR Group specializes in electric utility infrastructure and commercial construction, offering services in electric transmission, distribution networks, and substations throughout the U.S. and western Canada. This meeting is exclusive to Credit Suisse clients.
MYR Group Inc. (NASDAQ: MYRG), a leading specialty contractor for electric utility infrastructure and construction markets, announced its participation in Baird's 2021 Global Industrial Conference. On November 9, 2021, CEO Rick Swartz and CFO Betty Johnson will conduct virtual meetings with institutional investors. The conference is exclusive to Baird's clients. MYR Group offers extensive services in electric transmission, distribution, and substation facilities, catering to various sectors including utilities and industrial facilities.
MYR Group Inc. (MYRG) announced its Q3 and YTD 2021 financial results, reporting record revenues of $610.2 million and net income of $23.2 million, a 34% increase year-over-year. The company's EBITDA reached $42.3 million, reflecting strong operational performance. Despite a slight decrease in revenues for the Commercial and Industrial segment, the overall quarterly performance exceeded expectations. MYR's backlog stands at $1.63 billion as of September 30, 2021, indicating a solid pipeline for future projects.
MYR Group Inc. (MYRG), a leading specialty contractor, will release its Q3 and nine-month 2021 financial results on October 27, 2021, after market close. A conference call to discuss the results is scheduled for October 28, 2021, at 8:00 AM Mountain Time. Interested parties can join via telephone or access a live webcast through MYR's investor relations website. A replay of the call will be available until November 4, 2021. MYR specializes in electric utility infrastructure, serving various sectors including commercial and industrial construction.
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.