MYR Group Q1 2024 revenue up 0.5% to $815.6M; EPS falls to $1.12; backlog down 9%

MYR GROUP INC.

2024-Q1 EPS reported $1.12 revenue$815,562,000

Revenue $815.6M (+0.5% YoY); net income $18.9M ($1.12 diluted) vs $23.2M ($1.38) YoY.
T&D segment revenue $490.4M (+10.1% YoY); C&I segment $325.2M (-11.2% YoY) due to project delays.
Gross margin improved to 10.6% from 10.4%, but net income fell on higher SG&A and interest expense.
Backlog $2.43B, down 9.1% from $2.67B a year ago and down from $2.51B at Q4 2023.
Management cites near-term supply chain/regulatory challenges but healthy bidding activity.

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 0.99

MYR GROUP INC. reported first quarter 2024 (three months ended March 31, 2024) results: revenue $815.6 million, net income $18.9 million, EPS $1.12 per diluted share.

Period: first quarter 2024 (three months ended March 31, 2024)
Revenue: $815.6 million
Net income: $18.9 million
EPS: $1.12 per diluted share
Result: reported results

Exact text from the filing

construction markets in the United States and Canada, announced today its first-quarter 2024 financial results. Highlights for First Quarter 2024 • Quarterly revenues of $815.6 million • Quarterly net income of $18.9 million, or $1.12 per diluted share • Quarterly EBITDA of $39.8 million • Backlog of $2.43 billion Management Comments Rick Swartz, MYR’s

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Source: SEC EDGAR

accession 0000700923-24-000027

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