MYR Group reports Q4 2023 record revenue $1.00B, FY 2023 net income $91.0M, EPS $5.40

MYR GROUP INC.

2023-FY EPS reported $5.40 revenue$3,643,905,000

Q4 revenues $1.00B, +16.2% YoY; Q4 net income $24.0M ($1.43 diluted EPS), down 2.2% from $24.6M in Q4 2022.
Full-year revenues $3.64B, +21.1% YoY; net income $91.0M ($5.40 diluted EPS) vs $83.4M ($4.91) in 2022.
T&D segment Q4 revenues $591.5M (+15.2% YoY), C&I segment Q4 revenues $412.7M (+17.8% YoY); both segment records.
Gross margin declined to 9.7% in Q4 (from 11.1%) and 10.0% for full year (from 11.4%) due to project inefficiencies and supply chain disruptions.
Backlog $2.51B as of Dec 31, 2023, up $10.6M from $2.50B a year ago; T&D $959.6M, C&I $1.55B.

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 full year of 2023 results: revenue $3.64 billion, net income $91.0 million, EPS $5.40 per diluted share.

Period: full year of 2023
Revenue: $3.64 billion
Net income: $91.0 million
EPS: $5.40 per diluted share
Result: reported results

Exact text from the filing

MYR reported record revenues of $3.64 billion for the full year of 2023

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MYR GROUP INC. reported three and twelve months ended December 31, 2023 results: revenue $1.00 billion, net income $24.0 million, EPS $1.43 per diluted share.

Period: three and twelve months ended December 31, 2023
Revenue: $1.00 billion
Net income: $24.0 million
EPS: $1.43 per diluted share
Result: reported results

Exact text from the filing

markets in the United States and Canada, announced today its fourth-quarter and full year 2023 financial results. Fourth Quarter 2023 Highlights • Record quarterly revenues of $1.00 billion • Strong quarterly net income of $24.0 million, or $1.43 per diluted share • Record quarterly EBITDA of $52.8 million Full Year 2023 Highlights • Record full-year revenues of

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Source: SEC EDGAR

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