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MYR Group (MYRG)
NASDAQ:MYRG
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Earnings Data
Report Date
Mar 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.7Last Year’s EPS
$1.43Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: 33.97%
|Next Earnings Date:Mar 05, 2025
Earnings Call Sentiment|Neutral
The earnings call presents a mixed picture with significant revenue and margin challenges, primarily due to certain underperforming projects. However, there are also positive aspects, such as revenue growth in the C&I segment, improved operating cash flow, and a strong balance sheet, indicating resilience and potential for future growth.Company Guidance
During the MYR Group's third quarter 2024 earnings call, the company provided detailed financial guidance and performance metrics. Revenues for Q3 2024 were reported at $888 million, down by 5.5% compared to the previous year, with the Transmission and Distribution (T&D) segment revenues at $482 million, marking a 12% decrease. The Commercial and Industrial (C&I) segment saw a 4% revenue increase, reaching $406 million. The gross margin stood at 8.7%, down from 9.8% in the prior year, primarily due to impacts from clean energy projects. Operating income margins were reported at 3.6% for T&D and 5% for C&I. The quarter's net income was $11 million, translating to $0.65 per diluted share, while EBITDA was reported at $37 million. The total backlog as of September 30, 2024, was $2.6 billion. In terms of liquidity, MYR Group had $269 million in working capital and $376 million borrowing availability. The company also repurchased 526,000 shares during the quarter, exhausting the current buyback program. Looking ahead, MYR Group anticipates completing problematic projects by year's end and expects to maintain its operating income within the middle range of segment targets in 2025.C&I Segment Revenue Growth
C&I revenues were $406 million, an increase of 4% compared to the same period last year, primarily driven by fixed price contracts and T&E contracts.
Positive Operating Cash Flow
Third quarter 2024 operating cash flow was $36 million compared to $13 million for the same period last year, indicating improved cash management and project execution.
Strong Balance Sheet
MYR Group maintained a strong funded debt-to-EBITDA leverage ratio of 0.7x and had $376 million in borrowing availability under its credit facility as of September 30, 2024.
C&I Segment Operating Margin Improvement
C&I operating income margin increased to 5% for the third quarter of 2024 compared to 3.6% for the same period last year, due to higher margins on certain projects nearing completion and favorable change orders.
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MYRG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MYRG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $115.33 | $131.00 | +13.59% |
| Jul 31, 2024 | $140.48 | $109.00 | -22.41% |
| May 01, 2024 | $164.82 | $151.99 | -7.78% |
| Feb 28, 2024 | $172.35 | $162.46 | -5.74% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does MYR Group (MYRG) report earnings?
MYR Group (MYRG) is schdueled to report earning on Mar 05, 2025, TBA Not Confirmed.
What is MYR Group (MYRG) earnings time?
MYR Group (MYRG) earnings time is at Mar 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MYRG EPS forecast?
MYRG EPS forecast for the fiscal quarter 2024 (Q4) is $0.7.
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