MYR Group Q2 2023: Revenue up 25.5% to $888.6M, Net Income up 13.2% to $22.3M

MYR GROUP INC.

2023-Q2 EPS reported $2.70 revenue$1,700,232,000

Record Q2 revenue of $888.6M, up 25.5% YoY; net income of $22.3M ($1.33 diluted EPS), up 13.2%.
Record backlog of $2.73B, up 11.8% from $2.44B a year ago.
T&D segment revenue $503.7M (+21.3%); C&I segment $384.9M (+31.4%).
Gross margin fell to 10.1% from 11.4%, due to labor inefficiencies, supply chain issues, and inflation.
EBITDA was $47.1M, compared to $43.9M in Q2 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MYR GROUP INC. reported financial results for the three and six months ended June 30, 2023.

Period: the three and six months ended June 30, 2023
Result: reported results

Exact text from the filing

On July 26, 2023, MYR Group Inc. issued a press release announcing its financial results for the three and six months ended June 30, 2023.

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Source: SEC EDGAR

accession 0000700923-23-000055

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