secwatch.observer — SEC 8-K summary
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Issuer:     MYR GROUP INC. (MYRG)
CIK:        0000700923
Form:       8-K
Filed at:   2024-07-31T23:59:59+00:00
Accession:  0000700923-24-000043
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MYR Group Q2 net loss $15.3M, revenue down 6.7% YoY to $828.9M
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- Net loss of $15.3M ($0.91 diluted loss) vs net income of $22.3M ($1.33) a year ago.
- Consolidated revenue $828.9M, down 6.7% YoY; T&D rev $458.2M (-9.0%), C&I rev $370.7M (-3.7%).
- Gross margin fell to 4.9% from 10.1%; clean-energy projects and a C&I project drove the decline.
- Backlog of $2.54B down 7.0% YoY from $2.73B; sequential increase from $2.43B at Q1 end.
- EBITDA of ($4.7M) vs $47.1M in Q2 2023; borrowing availability $426.6M on $490M credit line.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/700923/000070092324000043/0000700923-24-000043-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/700923/000070092324000043/myrg-20240731.htm
  HTML page:      https://secwatch.observer/filing/0000700923-24-000043

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