Welcome to our dedicated page for Myr Group Del news (Ticker: MYRG), a resource for investors and traders seeking the latest updates and insights on Myr Group Del stock.
MYR Group Inc. (NASDAQ: MYRG) delivers essential electrical construction services through its Transmission & Distribution and Commercial & Industrial segments. This news hub provides investors and industry professionals with direct access to official company announcements and strategic updates.
Find curated press releases covering project awards, financial results, operational milestones, and leadership developments. Our repository simplifies tracking MYRG's role in grid modernization, renewable energy integration, and critical infrastructure projects across North America.
Key updates include quarterly earnings reports, major contract announcements, safety recognitions, and technological innovations. Bookmark this page for timely insights into MYRG's expanding capabilities in electrical infrastructure development and maintenance.
MYR Group Inc. announced its first-quarter 2024 financial results, revealing quarterly revenues of $815.6 million, net income of $18.9 million, and EBITDA of $39.8 million. Despite revenue growth in the Transmission and Distribution segment, lower revenues in the Commercial and Industrial segment impacted overall results. Gross profit increased to $86.2 million, with margin improvements offset by labor inefficiencies and supply chain disruptions. Operating expenses rose, leading to a decrease in net income compared to the same period in 2023. Backlog decreased to $2.43 billion, with T&D backlog at $853.2 million and C&I backlog at $1.57 billion. MYR highlighted ongoing challenges in the supply chain and regulatory environment, while focusing on long-term growth opportunities.
MYR Group Inc. announced its participation in the 2024 Baird Global Consumer, Technology & Services Conference where the CEO and CFO will meet with institutional investors in New York on June 4, 2024.
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