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]