secwatch.observer — SEC 8-K summary
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Issuer:     MYR GROUP INC. (MYRG)
CIK:        0000700923
Form:       8-K
Filed at:   2022-10-26T23:59:59+00:00
Accession:  0000700923-22-000047
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MYR Group Q3 record revenue $799.8M (+31% YoY); EPS falls to $1.09 from $1.35
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- Record quarterly revenue $799.8M, up 31.1% YoY; T&D revenue +47.5% to $452M.
- Net income $18.4M ($1.09 diluted) vs $23.2M ($1.35) in Q3 2021; EBITDA $40.3M vs $42.3M.
- Gross margin fell to 10.8% from 13.8% due to supply-chain cost increases, inflation, and labor inefficiencies.
- Record backlog $2.48B (+51.6% YoY); T&D backlog $1.02B, C&I backlog $1.45B.
- Nine-month 2022 revenue $2.14B (+15.8% YoY); net income $58.8M ($3.45 diluted) vs $64.3M ($3.75).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/700923/000070092322000047/0000700923-22-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/700923/000070092322000047/myrg-20221026.htm
  HTML page:      https://secwatch.observer/filing/0000700923-22-000047

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer