Loading...
•
Jun 30, 2023
MYR Group Q2 2023 Earnings Report
MYR Group reported record quarterly revenues and backlog, with net income increasing by 13.2% compared to the same period of 2022.
Key Takeaways
MYR Group Inc. announced strong second-quarter results, achieving record quarterly revenues of $888.6 million and a record backlog of $2.73 billion. Net income for the quarter was $22.3 million, a 13.2% increase year-over-year. The company's performance was driven by growth in both its Transmission and Distribution (T&D) and Commercial and Industrial (C&I) segments, particularly related to clean energy projects.
Record quarterly revenues of $888.6 million.
Net income of $22.3 million, or $1.33 per diluted share.
EBITDA of $47.1 million.
Record backlog of $2.73 billion.
Forward Guidance
The continued investment in the overall electrical infrastructure system combined with the expanding demand for clean energy sources, present ongoing opportunities for long term growth.
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...