secwatch.observer — SEC 8-K summary
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Issuer:     MYR GROUP INC. (MYRG)
CIK:        0000700923
Form:       8-K
Filed at:   2023-10-25T23:59:59+00:00
Accession:  0000700923-23-000063
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MYR Group reports record Q3 revenue $939.5M, diluted EPS $1.28 up 17.4% YoY
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- Revenue $939.5M (+17.5% YoY); net income $21.5M ($1.28 diluted EPS) vs $18.4M ($1.09) in Q3 2022.
- T&D segment revenue $548.6M (+21.4% YoY) and C&I segment $390.9M (+12.4% YoY).
- Consolidated gross margin 9.8% vs 10.8% due to labor inefficiencies, supply chain, weather.
- Backlog $2.62B at Sep 30, 2023, up 5.7% from $2.48B a year ago; T&D backlog $1.14B, C&I $1.48B.
- EBITDA $47.0M vs $40.3M; interest expense up due to higher rates; effective tax rate 30.3%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/700923/000070092323000063/0000700923-23-000063-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/700923/000070092323000063/myrg-20231025.htm
  HTML page:      https://secwatch.observer/filing/0000700923-23-000063

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