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Mar 31, 2021
MYR Group Q1 2021 Earnings Report
MYR Group reported strong results in Q1 2021, with record high quarterly net income, EBITDA, and EPS, driven by increased revenues and improved margins.
Key Takeaways
MYR Group Inc. announced strong first-quarter 2021 financial results, featuring record high quarterly net income of $19.9 million, or $1.17 per diluted share, and a 14.3% increase in revenues to $592.5 million. The company's backlog remained strong at $1.64 billion.
Strong quarterly revenues of $592.5 million.
Record high quarterly net income of $19.9 million, or $1.17 per diluted share.
Record high quarterly EBITDA of $39.3 million.
Strong backlog of $1.64 billion.
Forward Guidance
MYR Group anticipates continued opportunities driven by economic conditions, the shift toward clean energy, and infrastructure needs.
Positive Outlook
- Current economic conditions will continue to drive near term opportunities.
- The shift toward clean energy will continue to drive near term opportunities.
- The need to replace aging infrastructure to strengthen the grid will continue to drive near term opportunities.
- A healthy market will continue to drive near term opportunities.
- Current political climate which supports the investment and implementation of new and upgraded electrical infrastructure to complement the United States environmental and economic goals may benefit the market.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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