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Dec 31, 2019
MYR Group Q4 2019 Earnings Report
Reported strong financial results with record revenues and a new record high backlog.
Key Takeaways
MYR Group reported strong fourth-quarter 2019 results, with revenues of $571.1 million, a 27.9% increase compared to the fourth quarter of 2018. The company's backlog reached a new record high of $1.5 billion. Net income attributable to MYR Group Inc. was $12.8 million, or $0.76 per diluted share.
MYR reported fourth-quarter revenues of $571.1 million, a 27.9% increase year-over-year.
The Transmission and Distribution segment reported record quarterly revenues of $311.0 million, a 20.9% increase year-over-year.
The Commercial and Industrial segment reported fourth-quarter revenues of $260.1 million, a 37.5% increase year-over-year.
Backlog reached a new record high of $1.5 billion at the end of 2019.
Revenue by Segment
Forward Guidance
MYR anticipates continued market strength and growth opportunities for both the Transmission & Distribution and Commercial & Industrial segments.
Positive Outlook
- Continued market strength
- Growth opportunities in T&D segment
- Growth opportunities in C&I segment
- Further enhance leadership position
- Expanding service offerings across a wider footprint
Challenges Ahead
- Inclement weather
- Labor inefficiencies
- Material delays
- Changes in estimates of gross profit on certain projects
- Impact of foreign earnings and the associated impact of GILTI
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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