Financial Performance - MYR Group achieved record revenue of $3.64 billion in 2023, a 21% increase from $3.01 billion in 2022[14, 15] - The company's net income for the full year 2023 was $91 million, or $5.40 per diluted share, also a record high[19, 65] - MYR Group's EBITDA for 2023 reached $188.2 million, another record high[19, 65] - The company's backlog stood at $2.51 billion[62] Segment Performance - Transmission & Distribution (T&D) revenue reached a record $2.09 billion in 2023[21, 23] - Commercial & Industrial (C&I) revenue also hit a record of $1.55 billion in 2023[31, 34] - T&D segment backlog was $960 million as of December 31, 2023[23] - C&I segment backlog was $1.55 billion as of December 31, 2023[34] Market Outlook - Investor-owned electric companies plan to invest approximately $121 billion in transmission construction between 2023 and 2026[26] - The Infrastructure Investment and Jobs Act (IIJA) includes $73 billion for the electric grid and energy infrastructure[29] - Combined federal spending planned for energy between the IIJA and Inflation Reduction Act (IRA) is over $300 billion over the next 5-10 years[29]

Financial Performance - MYR Group's total revenue for 2024 was $336 billion[72] - The Transmission & Distribution (T&D) segment contributed $188 billion to the total revenue in 2024[72] - The Commercial & Industrial (C&I) segment generated $148 billion in revenue for 2024[72] - The company's backlog stood at $258 billion[70] - Net income for the full year 2024 was $303 million, resulting in earnings per diluted share of $183[73] - EBITDA for 2024 reached $1178 million[73] Growth and Market Outlook - The T&D segment experienced a revenue Compound Annual Growth Rate (CAGR) of 106%[24] - The C&I segment saw a revenue CAGR of 96%[35] - Investor-owned utilities (IOUs) plan to invest approximately $158 billion on transmission construction between 2024 and 2027[30] - The Dodge Momentum Index grew 56% in January, reaching 2257 (2000=100), driven by diversified growth in nonresidential planning[43]

Core Insights - Shimmick Corporation has launched Axia Electric LLC, a dedicated electrical subsidiary to address the increasing market demand for specialized electrical and power distribution solutions [1][3] - The company has secured electrical contracts totaling $42 million, with over $380 million in active electrical construction projects under contract [1][4] Company Overview - Axia Electric builds on Shimmick's 20 years of experience in delivering complex electrical systems across various sectors, including public and private entities [2] - The new subsidiary will focus on low- and medium-voltage markets, as well as commissioning and operations and maintenance (O&M) services [2] Market Positioning - Axia Electric aims to enhance Shimmick's capabilities in critical infrastructure markets such as water, industrial, aviation, transportation, transit, and energy [3] - The subsidiary's self-perform model and strong safety culture are designed to provide clients with optimal budget and schedule outcomes [3][4] Leadership and Growth - Under the leadership of President Fernando DeLeon, Axia Electric is positioned for growth with a skilled workforce of over 150 employees [4] - The company is prepared to meet the increasing demands from clients for specialized electrical expertise and agile service delivery [4]

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:The E.W. Scripps Company (SSP) : This media enterprise company has seen the Zacks Consensus Estimate for its current year earnings increasing 14.3% over the last 60 days.MYR Group Inc. (MYRG) : This electrical construction services company has seen the Zacks Consensus Estimate for its next year earnings increasing nearly 6% over the last 60 days.Swedbank AB (publ) (SWDBY) : This banking products and services has seen the Zacks Consensus ...

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 ...

FORWARD-LOOKING STATEMENTS AND NON-GAAP FINANCIAL DISCLOSURES Forward-Looking Statements First Quarter 2025 Earnings Call April 30, 2025 FIRST QUARTER 2025 FINANCIAL RESULTS This presentation and related press release contain forward-looking statements. Such statements speak only as of the date on the cover of this slide deck, and EMCOR assumes no obligation to update any such forward-looking statements, unless required by law. These forward-looking statements include statements regarding anticipated future ...