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 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.
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.