MYR Group (MYRG) Misses Q1 EPS by 18c

MYR Group (NASDAQ: MYRG) reported Q1 EPS of $0.10, $0.18 worse than the analyst estimate of $0.28. Revenue for the quarter came in at $253.6 million versus the consensus estimate of $262.48 million.

As of March 31, 2016, MYR's backlog was $434.8 million, consisting of $293.5 million in the T&D segment and $141.3 million in the C&I segment. Total backlog at $434.8 was $16.1 million lower than the $450.9 million reported at December 31, 2015. Although backlog decreased from last quarter, total backlog at March 31, 2016 was higher than the 8 consecutive quarters preceding December 31, 2015. T&D backlog at $293.5 decreased $30.0 million, or 9.3 percent, from December 31, 2015, while C&I backlog increased $13.9 million, or 10.9 percent, over the same period. Total backlog at March 31, 2016 increased $36.4 million, or 9.1 percent, from the $398.4 million reported at March 31, 2015.

For earnings history and earnings-related data on MYR Group (MYRG) click here.

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