Myr Group Inc Del Stock Price, News & Analysis

MYR Group Inc. (NASDAQ: MYRG) reported its first-quarter 2023 financial results, showing strong growth with revenues of $811.6 million, an increase of 27.5% from Q1 2022. Net income rose to $23.2 million, or $1.38 per diluted share, reflecting a 12% year-over-year increase. EBITDA was $41.3 million, up from $39.6 million in Q1 2022. The company also achieved a record backlog of $2.67 billion, a 10.9% increase from the prior year. The Transmission and Distribution segment generated $445.3 million, while the Commercial and Industrial segment recorded $366.3 million in revenues, driven by clean energy initiatives. Despite rising selling, general, and administrative expenses, MYR continues to expand operations and maintain strong customer relationships.

MYR Group Inc. (NASDAQ: MYRG) announced its first-quarter 2023 results will be released on April 26, 2023, after market close. This will be followed by a conference call on April 27, 2023, at 9:00 a.m. Central time to discuss the results.

MYR Group provides electrical contractor services in the United States and Canada through its Transmission & Distribution and Commercial & Industrial segments. They offer a wide range of services including design, engineering, maintenance, and repair for various electrical installations.

Participants can join the call by registering in advance or via the audio-only webcast available on MYR Group’s website.

MYR Group Inc. (NASDAQ: MYRG), a leading specialty contractor in the electric utility sector, has announced its participation in Oppenheimer’s 18th Annual Industrial Growth Conference. Scheduled for May 9, 2023, the event will feature virtual meetings with institutional investors, led by CEO Rick Swartz and CFO Kelly Huntington. MYR Group operates two main segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I), providing extensive electrical installation services across the U.S. and Canada. T&D services include the design, engineering, and maintenance of electric networks and clean energy projects, catering to various utility and industrial customers. The C&I segment offers installation and repair services for commercial and industrial facilities, emphasizing projects for diverse sectors including healthcare, transportation, and energy. For more details, visit myrgroup.com.

MYR Group Inc. (NASDAQ: MYRG) announces the retirement of Jeffrey J. Waneka as Senior VP and COO of its Commercial and Industrial (C&I) segment, effective May 1, 2023. He will continue in an advisory role to ensure a smooth transition. Don A. Egan will succeed him as COO, bringing 32 years of experience with the company. MYR Group specializes in electrical contracting services across the U.S. and Canada, focusing on Transmission & Distribution and the C&I segment, serving diverse clients. The firm emphasizes its commitment to leadership and operational continuity during this transition.

MYR Group Inc. (NASDAQ: MYRG), a leading holding company of specialty electrical contractors, announced its participation in the UBS 17th Annual Engineering, Infrastructure, and Construction conference on March 23, 2023, in Dallas, TX. The CEO, Rick Swartz, and CFO, Kelly Huntington, will engage with institutional investors at this exclusive event for UBS clients. MYR Group operates through two segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I), offering a wide range of electrical services across the U.S. and Canada, including clean energy projects.

MYR Group Inc. (NASDAQ: MYRG), a prominent holding company for specialty electrical contractors, will participate in the Sidoti & Company investor conference. Scheduled for March 22, 2023, the CEO Rick Swartz and CFO Kelly Huntington will meet virtually with institutional investors. MYR Group operates through two segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). Their T&D services encompass the complete electrical installations for utilities, while C&I focuses on wiring for various commercial and industrial facilities. More details are available on their website.

MYR Group Inc. (NASDAQ: MYRG) announced robust financial results for the fourth quarter and full year of 2022. Key highlights include record quarterly revenues of $864.0 million and net income of $24.6 million, translating to $1.46 per diluted share. Annual revenues hit $3.01 billion, marking an increase of 20.4%. The company’s backlog reached a record $2.50 billion. Despite strong revenue growth, gross margins decreased due to supply chain disruptions and labor inefficiencies. The rise in SG&A expenses and interest costs also contributed to challenges. Management remains optimistic about continued growth in 2023.