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Jun 30, 2020
MYR Group Q2 2020 Earnings Report
Reported a strong second quarter with revenue increase and backlog at a record high.
Key Takeaways
MYR Group reported a strong second quarter of 2020 with a 14.3% increase in revenue, reaching $513.1 million. The company also saw increases in gross profit, earnings per share, net income, EBITDA, and free cash flow. Backlog reached a record high of $1.55 billion.
Revenue increased by 14.3% compared to Q2 2019, reaching $513.1 million.
Gross profit increased by 42.0% compared to Q2 2019.
Net income attributable to MYR Group Inc. was $13.4 million, or $0.80 per diluted share.
Backlog reached a record high of $1.55 billion.
Forward Guidance
The outlook is solid for the majority of the markets we serve, and we are fortunate to be part of an industry that constructs, maintains, and supports our nation’s critical electric infrastructure.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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