secwatch.observer — SEC 8-K summary
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Issuer:     MYR GROUP INC. (MYRG)
CIK:        0000700923
Form:       8-K
Filed at:   2022-07-27T23:59:59+00:00
Accession:  0000700923-22-000039
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MYR Group Q2 revenue hits record $708M, net income $19.7M; margins pressured
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- Revenue $708.1M, +9% YoY; net income $19.7M ($1.15 diluted EPS) vs $21.2M ($1.24) a year ago.
- T&D segment revenue $415.2M (+27% YoY) on distribution projects and Powerline Plus; C&I revenue $292.9M (-9.3%).
- Gross margin 11.4% vs 12.5% a year ago due to supply chain disruptions, inflation, COVID impacts, and a project adjustment.
- Record backlog $2.44B, up 56% from $1.57B at June 30, 2021; T&D backlog $1.06B, C&I $1.38B.
- EBITDA record $43.9M vs $41.2M in Q2 2021; borrowing availability $310.3M under $375M revolver.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/700923/000070092322000039/0000700923-22-000039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/700923/000070092322000039/myrg-20220727.htm
  HTML page:      https://secwatch.observer/filing/0000700923-22-000039

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