MYR Group (MYRG) Tops Q4 EPS by 12c, Revenues Beat

MYR Group (NASDAQ: MYRG) reported Q4 EPS of $0.64, $0.12 better than the analyst estimate of $0.52. Revenue for the quarter came in at $446.3 million versus the consensus estimate of $398.51 million.

• Record fourth quarter revenues of $446.3 million
• Fourth quarter net income attributable to MYR Group Inc. of $10.7 million, or $0.64 per diluted share attributable to MYR Group Inc.
• Record backlog of $1.147 billion

Management Comments Rick Swartz, MYR's President and CEO said, “After completing the year with a strong fourth quarter, our full year 2018 revenues of $1.53 billion set another record high for the fourth consecutive year, and we achieved increases in gross profit, earnings per share, net income and EBITDA, as compared to our full year of 2017. Along with execution of our organic and acquisition growth strategies, we experienced an increase in overall project activity and significant bidding opportunities in both our Transmission & Distribution and Commercial & Industrial segments. Total backlog for 2018 increased to $1.147 billion, a 68.8 percent increase over 2017, demonstrating that our business model continues to be a sound platform for sustainable growth. We expect active bidding to continue throughout 2019 and beyond, and believe we are well-positioned to capitalize on opportunities and deliver long-term value for all of our stakeholders.”

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

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