THORNTON, Colo., May 05, 2025 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the Stifel 2025 Boston Cross Sector 1x1 investor conference. MYR Group’s Chief Executive Officer, Rick Swartz, and Chief Financial Officer, Kelly Huntington, will meet with institutional investors during the Stifel 2 ...

THORNTON, Colo., May 01, 2025 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend Bernstein’s Annual Strategic Decisions investor conference. MYR Group’s Chief Executive Officer, Rick Swartz, and Chief Financial Officer, Kelly Huntington, will meet with institutional investors during Bernstein’s 4 ...

MYR Group (MYRG) Q1 2025 Earnings Call May 01, 2025 10:00 AM ET Company Participants Jennifer Harper - VP - IR & TreasurerRichard Swartz - President, CEO & DirectorKelly Huntington - SVP & CFOBrian Stern - Senior VP & COO of Transmission & DistributionDon Egan - Senior VP & COO of Commercial and IndustrialAtidrip Modak - Vice President - Energy Services & E&PsJonathan Braatz - PartnerJustin Hauke - Vice President and Senior Research AssociateBrian Brophy - Associate Vice President Conference Call Participan ...

MYR Group (MYRG) Q1 2025 Earnings Call May 01, 2025 10:00 AM ET Company Participants Jennifer Harper - VP - IR & TreasurerRichard Swartz - President, CEO & DirectorKelly Huntington - SVP & CFOBrian Stern - Senior VP & COO of Transmission & DistributionDon Egan - Senior VP & COO of Commercial and IndustrialAtidrip Modak - Vice President - Energy Services & E&PsJonathan Braatz - PartnerJustin Hauke - Vice President and Senior Research AssociateBrian Brophy - Associate Vice President Conference Call Participan ...

MYR Group (MYRG) Q1 2025 Earnings Call May 01, 2025 10:00 AM ET Speaker0 Good morning, everyone, and welcome to the MYR Group First Quarter twenty twenty five Earnings Results Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer Today's conference is being recorded. At this time, for opening remarks and introductions, I would like to turn the call over to Jennifer Harper, MYR Group Vice President of Investor Relation ...

MYR Group (MYRG) came out with quarterly earnings of $1.45 per share, beating the Zacks Consensus Estimate of $1.23 per share. This compares to earnings of $1.12 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 17.89%. A quarter ago, it was expected that this electrical construction services provider would post earnings of $0.30 per share when it actually produced earnings of $0.99, delivering a surprise of 230%.Over the last f ...

Core Viewpoint - MYR Group Inc. reported solid financial results for the first quarter of 2025, with increases in revenue, net income, and consolidated gross profit compared to the same period in 2024, reflecting strong demand in the electric utility infrastructure sector [2][3]. Financial Performance - First quarter 2025 revenues reached $833.6 million, an increase of $18.0 million from the first quarter of 2024 [3][9]. - The Transmission and Distribution (T&D) segment generated revenues of $461.8 million, a decrease of $28.6 million from the previous year, primarily due to a $44.1 million drop in transmission project revenues [3]. - The Commercial and Industrial (C&I) segment reported revenues of $371.9 million, an increase of $46.7 million from the first quarter of 2024 [3]. - Consolidated gross profit increased to $96.9 million, up from $86.2 million in the same quarter of 2024, with gross margin rising to 11.6% from 10.6% [4]. - Net income for the first quarter was $23.3 million, or $1.45 per diluted share, compared to $18.9 million, or $1.12 per diluted share, in the prior year [8][9]. Backlog and Market Activity - As of March 31, 2025, MYR Group's backlog was $2.64 billion, an increase of $214.9 million, or 8.9%, from $2.43 billion reported a year earlier [10]. - The T&D backlog stood at $872.5 million, while the C&I backlog was $1.77 billion, indicating strong future project commitments [10]. Cost and Expense Management - Selling, general and administrative expenses rose to $62.5 million, slightly up from $62.2 million in the first quarter of 2024, primarily due to increased employee-related expenses [5]. - Interest expense increased to $1.4 million, attributed to higher average outstanding debt balances, although offset by lower interest rates [6]. Tax and Earnings Metrics - Income tax expense for the first quarter was $9.5 million, with an effective tax rate of 28.9%, compared to $4.2 million and 18.0% in the prior year [7]. - EBITDA for the first quarter was $50.2 million, compared to $39.8 million in the same quarter of 2024, reflecting improved operational performance [8][27].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-08325 _____________________________________________________________ MYR GROUP INC. (Exact name of registrant as specified ...

Financial Performance - MYR Group reported first-quarter 2025 revenues of $833.6 million, an increase of $18.0 million compared to the first quarter of 2024[4]. - Net income for the first quarter of 2025 was $23.3 million, or $1.45 per diluted share, compared to $18.9 million, or $1.12 per diluted share, for the same period of 2024[9]. - Consolidated gross profit increased to $96.9 million for the first quarter of 2025, up from $86.2 million for the first quarter of 2024, with gross margin rising to 11.6% from 10.6%[5]. - First-quarter 2025 EBITDA was $50.2 million, compared to $39.8 million in the first quarter of 2024[9]. - Contract revenues for Q1 2025 were $833,620,000, an increase of 2.6% from $815,562,000 in Q1 2024[22]. - Gross profit for Q1 2025 was $96,901,000, up 12.3% from $86,243,000 in Q1 2024[22]. - Net income for Q1 2025 increased to $23,308,000, representing a 23.5% rise compared to $18,939,000 in Q1 2024[22]. - Basic income per share rose to $1.46 in Q1 2025, compared to $1.13 in Q1 2024, reflecting a 29.2% increase[27]. - Operating income for Q1 2025 was $34,290,000, a 41.3% increase from $24,271,000 in Q1 2024[27]. - Cash flows provided by operating activities significantly improved to $83,286,000 in Q1 2025, compared to $7,690,000 in Q1 2024[24]. - EBITDA for the three months ended March 31, 2025, was $50,183,000, an increase from $39,838,000 in the same period of 2024, representing a growth of 25.8%[29]. - Free Cash Flow for the three months ended March 31, 2025, was $70,220,000, compared to a negative cash flow of $(18,093,000) in the same period of 2024[29]. Segment Performance - The Transmission and Distribution (T&D) segment reported quarterly revenues of $461.8 million, a decrease of $28.6 million from the first quarter of 2024, while the Commercial and Industrial (C&I) segment reported revenues of $371.9 million, an increase of $46.7 million[4]. - The Transmission & Distribution segment generated $461,769,000 in revenues, accounting for 55.4% of total contract revenues in Q1 2025[27]. Expenses and Taxation - Selling, general and administrative expenses increased to $62.5 million for the first quarter of 2025, compared to $62.2 million for the first quarter of 2024[6]. - Interest expense rose to $1.4 million in the first quarter of 2025, compared to $1.1 million for the first quarter of 2024[7]. - Income tax expense was $9.5 million for the first quarter of 2025, with an effective tax rate of 28.9%, compared to $4.2 million and an effective tax rate of 18.0% for the first quarter of 2024[8]. - The company reported a tax rate of 28.9% for Q1 2025, compared to 18.0% in Q1 2024[27]. Balance Sheet and Cash Flow - The backlog at the end of the first quarter was $2.64 billion, reflecting an increase of $214.9 million, or 8.9%, from $2.43 billion reported at March 31, 2024[10]. - Total assets as of March 31, 2025, were $1,522,061,000, down from $1,574,059,000 as of March 31, 2024[27]. - MYR Group had $379.4 million of borrowing availability under its $490 million revolving credit facility as of March 31, 2025[12]. - Net Cash Flow from Operating Activities for the three months ended March 31, 2025, was $83,286,000, significantly up from $7,690,000 in the same period of 2024[29]. Shareholder Metrics - The company repurchased $75,000,000 of common stock during Q1 2025[24]. - Net income for the last twelve months ended March 31, 2025, was $34,632,000, down from $86,766,000 in the previous year, reflecting a decrease of 60%[29]. - Book Value per Period End Share decreased to $35.21 as of March 31, 2025, from $39.30 as of March 31, 2024, a decline of 7.4%[31]. - Tangible Book Value as of March 31, 2025, was $361,083,000, down from $466,406,000 in 2024, indicating a decrease of 22.5%[31]. - The Funded Debt to Equity Ratio increased to 0.16 as of March 31, 2025, compared to 0.06 in the previous year, indicating higher leverage[29]. - Return on Assets for the last twelve months was 2.2%, down from 6.4% in the previous year, showing a decline in asset efficiency[29]. - Return on Equity decreased to 5.2% for the last twelve months, compared to 15.0% in the previous year, indicating reduced profitability for shareholders[29]. - Average Invested Capital for the last twelve months was $661,338,000, compared to $626,963,000 in the previous year, reflecting an increase of 5.5%[31].

About MYR Group Inc. MYR Group is a holding company of leading, specialty electrical contractors providing services throughout the United States and Canada through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). MYR Group subsidiaries have the experience and expertise to complete electrical installations of any type and size. Through their T&D segment they provide services on electric transmission, distribution networks, substation facilities, clean energy project ...