secwatch.observer — SEC 8-K summary
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Issuer:     MYR GROUP INC. (MYRG)
CIK:        0000700923
Form:       8-K
Filed at:   2023-07-26T23:59:59+00:00
Accession:  0000700923-23-000055
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/700923/000070092323000055/0000700923-23-000055-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/700923/000070092323000055/myrg-20230726.htm
  HTML page:      https://secwatch.observer/filing/0000700923-23-000055

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