Loading...
•
Mar 31, 2024
MYR Group Q1 2024 Earnings Report
MYR Group reported slight increase in revenues and consolidated gross profit compared to the same period of 2023.
Key Takeaways
MYR Group's first quarter 2024 saw a slight increase in revenues, with the T&D segment driving growth while the C&I segment experienced a decrease. Consolidated gross profit and gross margin also increased, but net income decreased compared to the first quarter of 2023 due to increased expenses.
Quarterly revenues reached $815.6 million.
Net income for the quarter was $18.9 million, or $1.12 per diluted share.
EBITDA for the quarter totaled $39.8 million.
Backlog stood at $2.43 billion.
Revenue by Segment
Forward Guidance
Bidding activity remains healthy across both business segments, demonstrating positive signs for continued long-term growth. The company remains focused on expanding strong customer relationships through alliance agreements and strategically capturing new opportunities which we believe will drive success in the coming year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...