MYR Group (MYRG) Tops Q4 EPS by 16c, Revenues Beat

MYR Group (NASDAQ: MYRG) reported Q4 EPS of $0.76, $0.16 better than the analyst estimate of $0.60. Revenue for the quarter came in at $571.1 million versus the consensus estimate of $545.98 million.

Highlights for Fourth Quarter 2019

Fourth quarter revenues of $571.1 million
Fourth quarter net income attributable to MYR Group Inc. of $12.8 million, or $0.76 per diluted share
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.”

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

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