|Over a month ago|
MYR Group reports Q3 EPS $1.02, consensus 75c » 16:5110/2810/28/20
Reports Q3 revenue…
Reports Q3 revenue $607.9M, consensus $596.63M. Reports Q3 backlog of $1.72B. Rick Swartz, MYR's president and CEO, said, "Our strong third-quarter 2020 financial results, included a net income attributable to MYR Group Inc. of $17.3 million, a 67.0 percent increase over the third quarter of 2019, along with increases in revenues, gross profit, EBITDA and free cash flow as compared to the same period of 2019. Our backlog at the end third quarter was $1.72 billion, reflecting the current stability in the markets we serve, as well as our competitive strength." Mr. Swartz continued, "We are pleased that the plans we enacted during the ongoing COVID-19 pandemic have allowed us to continue to meet the needs of our clients, remain profitable, grow our business and keep our people working as safely and productively as possible. We believe our operational excellence, strong market position and the current bidding climates in both our T&D and C&I segments will support further efficiencies in our operations, and the execution of our long-term strategic growth plan."
MYR Group announces new $50M share repurchase program » 16:1810/2310/23/20
The Repurchase Program…
The Repurchase Program will expire in one year, or when the authorized funds are exhausted, whichever is earlier. The company intends to fund the Repurchase Program with cash on hand and through borrowings under its credit facility. The Repurchase Program was authorized by the Board of Directors on October 22 and will be effective November 2.
MYR Group awarded construction contract with LS Power Grid NEw York » 08:1109/1409/14/20
MYR Group announced it…
MYR Group announced it has executed a contract with LS Power Grid New York Corporation I, an affiliate of LS Power, to provide procurement and construction services for the Marcy to New Scotland Upgrade Project in the State of New York. The project consists of nearly 100 miles of 345-kilovolt transmission construction within existing utility corridors. The contract is valued at more than $250M. Under the contract, MYR Group will provide project management, construction management, material procurement, and construction services including right-of-way clearing, environmental controls, foundation installation, structure assembly and erection and conductor stringing. Construction planning has begun, and construction is expected to begin in early 2021 with a scheduled in-service date by the end of 2023.
|Over a quarter ago|
MYR Group reports Q1 EPS 59c, consensus 52c » 16:1604/2904/29/20
Reports Q1 revenue…
Reports Q1 revenue $518.5M, consensus $546.63M.
MYR Group downgraded to Neutral at Baird » 08:1804/2404/24/20
As reported previously,…
As reported previously, Baird analyst Andrew Wittmann downgraded MYR Group to Neutral from Outperform with a price target of $30, down from $36. The analyst said the downgrade is due to current valuation which he sees as fair. He did say its notable T&D exposure is a positive and could surprise against falling expectations.
MYR Group downgraded to Neutral from Outperform at Baird » 05:2904/2404/24/20
Baird analyst Andrew…
Baird analyst Andrew Wittmann downgraded MYR Group to Neutral from Outperform with a price target of $30, down from $36.
MYR Group upgraded to Outperform from Perform at Kansas City Capital » 05:4703/1003/10/20
Kansas City Capital…
Kansas City Capital analyst Jon Braatz upgraded MYR Group to Outperform from Perform with a $36 price target. The utility industry is spending heavily on renewable generation and infrastructure improvements, Braatz tells investors in a research note. The analyst expects "strong" revenue gains and gross margin improvement from MYRG in 2020.
Fly Intel: Pre-market Movers » 08:5903/0503/05/20
CODX, IBIO, APT, AHPI, LAKE, NNVC, INO, CIEN, VIPS, AEO, MYRG, MRVL, BJ, BURL, PLUG, MEET
Check out this morning's…
MYR Group reports Q4 EPS 76c, consensus 60c » 16:1903/0403/04/20
Reports Q4 revenue…
Reports Q4 revenue $571.1M, consensus $545.98M. reports record backlog of $1.5 billion. Rick Swartz, MYR's President and CEO said, "We finished 2019 with strong financial results in the fourth quarter, and full year revenues of $2.07 billion, setting a record high for the fifth consecutive year. Our backlog of $1.5 billion at the end of 2019, a new record high, demonstrates that efforts to expand our service offerings across a wider footprint and continually improve customer value are translating to diverse opportunities in the United States and western Canada. We anticipate continued market strength and growth opportunities for both our Transmission & Distribution and Commercial & Industrial segments as we further enhance our leadership position in the electrical construction industry."