MYR Group reports Q1 EPS $1.12, consensus $1.16

Reports Q1 revenue $815.6M, consensus $854.13M. Rick Swartz, MYR’s president and CEO, said, “Our first quarter 2024 financials resulted in a slight increase in revenues and consolidated gross profit compared to the same period of 2023. The relatively slow start to the year for MYR Group in the first quarter of 2024 reflects some of the near-term supply chain and regulatory challenges a few of our customers are experiencing. Bidding activity remains healthy across both of our business segments, demonstrating positive signs for continued long-term growth. We remain focused on expanding our strong customer relationships through alliance agreements and strategically capturing new opportunities which we believe will drive success in the coming year.”