MYR Group (MYRG) Tops Q2 EPS by 29c

MYR Group (NASDAQ: MYRG) reported Q2 EPS of $1.24, $0.29 better than the analyst estimate of $0.95. Revenue for the quarter came in at $649.9 million versus the consensus estimate of $561.2 million.

Rick Swartz, MYR’s President and CEO, said, “Our strong second-quarter 2021 financial results included record high quarterly revenue, net income, EBITDA and EPS. We finished the second quarter with net income of $21.2 million, a 58.5 percent increase over our second quarter 2020 net income, along with increases in revenues, gross profit and EBITDA as compared to the same period of 2020.” Mr. Swartz continued, “A number of important market drivers continue to provide MYR with future growth opportunities including grid modernization, electrification and clean energy. We are focused on implementing targeted strategies to expand customer relationships, develop innovative practices, and capture market opportunities. Our ability to leverage the full capabilities of MYR Group companies across geographies and markets uniquely positions us for continued success.”

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

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