NASDAQ Framework: MYR Group Inc.
Specialty electrical construction services provider 1.
1: With roots dating to 1891 and 9,000+ employees, MYR Group Inc. is a publicly traded (Nasdaq: MYRG) holding company of specialty electrical construction companies. MYR Group and our subsidiaries provide large-scale electrical construction services throughout the U.S. and Canada. Through Safety, Respect, Responsiveness, Creativity, Integrity, Initiative, and Teamwork, we are creating connections that empower people. Consistently recognized as one of the top five specialty electrical construction firms by Engineering News Record, we partner with utilities, power companies, commercial clients, and developers to deliver some of the largest electrical infrastructure, commercial and industrial, and clean energy projects. MYR Group consists of the following subsidiaries: The L.E. Myers Co. Sturgeon Electric Company, Inc. Sturgeon Electric California, LLC Harlan Electric Company MYR Energy Services, Inc. Great Southwestern Construction, Inc. E.S. Boulos Company High Country Line Construction, Inc. Huen Electric CSI Electrical Contractors, Inc. Western Pacific Enterprises Ltd. Powerline Plus Ltd. ________________________________________ To learn more about our company and discover career opportunities with us, visit our website: https://myrgroup.com/ View Source
MYR Group Inc., established in 1891 and headquartered in Thornton, Colorado, is a publicly traded holding company (NASDAQ: MYRG) that provides specialty electrical construction services through its subsidiaries across the United States and Canada 23. The company operates through two primary segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I), offering services such as design, engineering, procurement, construction, maintenance, and repair of electrical infrastructure 45. MYR Group is consistently recognized as one of the top five specialty electrical construction firms by Engineering News-Record, thanks to its skilled workforce, innovative practices, and commitment to safety and sustainability 678.
2: With roots dating to 1891 and 9,000+ employees, MYR Group Inc. is a publicly traded (Nasdaq: MYRG) holding company of specialty electrical construction companies. MYR Group and our subsidiaries provide large-scale electrical construction services throughout the U.S. and Canada. Through Safety, Respect, Responsiveness, Creativity, Integrity, Initiative, and Teamwork, we are creating connections that empower people. Consistently recognized as one of the top five specialty electrical construction firms by Engineering News Record, we partner with utilities, power companies, commercial clients, and developers to deliver some of the largest electrical infrastructure, commercial and industrial, and clean energy projects. MYR Group consists of the following subsidiaries: The L.E. Myers Co. Sturgeon Electric Company, Inc. Sturgeon Electric California, LLC Harlan Electric Company MYR Energy Services, Inc. Great Southwestern Construction, Inc. E.S. Boulos Company High Country Line Construction, Inc. Huen Electric CSI Electrical Contractors, Inc. Western Pacific Enterprises Ltd. Powerline Plus Ltd. ________________________________________ To learn more about our company and discover career opportunities with us, visit our website: https://myrgroup.com/ View Source3: MYR Group Inc., through its subsidiaries, provides electrical construction services in the United States and Canada. It operates in two segments, Transmission and Distribution, and Commercial and Industrial. The Transmission and Distribution segment offers a range of services on electric transmission and distribution networks, and substation facilities, including design, engineering, procurement, construction, upgrade, maintenance, and repair services with primary focus on construction, maintenance, and repair to customers in the electric utility industry; and services, including construction and maintenance of high voltage transmission lines, substations, and lower voltage underground and overhead distribution systems, clean energy projects, and electric vehicle charging infrastructure services, as well as emergency restoration services in response to hurricane, wildfire, ice, or other related damages. This segment serves as a prime contractor to customers, such as investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners, and other contractors. The Commercial and Industrial segment provides a range of services, including design, installation, maintenance, and repair of commercial and industrial wiring; and installation of intelligent transportation systems, roadway lighting, and signalization for airports, hospitals, data centers, hotels, stadiums, commercial and industrial facilities, clean energy projects, manufacturing plants, processing facilities, water/waste-water treatment facilities, mining facilities, intelligent transportation systems, roadway lighting, signalization, and electric vehicle charging infrastructure. This segment serves general contractors, commercial and industrial facility owners, governmental agencies, and developers. The company was founded in 1891 and is headquartered in Thornton, Colorado. View Source4: MYR Group Inc is a U.S.-based holding company that provides specialty electrical construction services through its subsidiaries. The company operates through two segments. The transmission and distribution segment provides designing, engineering, procurement, construction, upgrade, maintenance, and repair services on transmission and distribution network and substation facilities. The commercial and industrial segment provides services such as the design, installation, maintenance, and repair of commercial and industrial wiring, installation of traffic networks, and the installation of bridges. MYR Group generates the majority of its sales from the United States and Canada. View Source5: MYR Group operates through two primary segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). The T&D segment saw a revenue increase of 10.1% year-over-year, reaching $490.4 million, driven by higher distribution and transmission project revenues. Conversely, the C&I segment experienced a decline, with revenues dropping 11.2% to $325.2 million due to project delays. View Source6: With roots dating to 1891 and 9,000+ employees, MYR Group Inc. is a publicly traded (Nasdaq: MYRG) holding company of specialty electrical construction companies. MYR Group and our subsidiaries provide large-scale electrical construction services throughout the U.S. and Canada. Through Safety, Respect, Responsiveness, Creativity, Integrity, Initiative, and Teamwork, we are creating connections that empower people. Consistently recognized as one of the top five specialty electrical construction firms by Engineering News Record, we partner with utilities, power companies, commercial clients, and developers to deliver some of the largest electrical infrastructure, commercial and industrial, and clean energy projects. MYR Group consists of the following subsidiaries: The L.E. Myers Co. Sturgeon Electric Company, Inc. Sturgeon Electric California, LLC Harlan Electric Company MYR Energy Services, Inc. Great Southwestern Construction, Inc. E.S. Boulos Company High Country Line Construction, Inc. Huen Electric CSI Electrical Contractors, Inc. Western Pacific Enterprises Ltd. Powerline Plus Ltd. ________________________________________ To learn more about our company and discover career opportunities with us, visit our website: https://myrgroup.com/ View Source7: MYR Group Inc. (MYR Group) and its subsidiaries have delivered some of the largest, most notable electrical infrastructure and commercial and industrial projects. Our integrated solutions, extensive expertise, and comprehensive approach to providing superior electrical construction services drive strong project outcomes with exceptional customer service and value. It’s why MYR Group has been recognized year after year as one of the top five specialty electrical contracting firms by Engineering News-Record. This legacy of success can be attributed to our skilled and dedicated workforce, our strategic business initiatives, and our continual drive to improve and adapt. View Source8: At MYR Group, Safety is Life. It sustains our employees, customers, company, and the environment. Because of our commitments to safety our culture embraces constant innovation and improvement in our safety practices as the catalyst that set us apart today, tomorrow, and beyond. View Source
9: With roots dating to 1891 and 9,000+ employees, MYR Group Inc. is a publicly traded (Nasdaq: MYRG) holding company of specialty electrical construction companies. MYR Group and our subsidiaries provide large-scale electrical construction services throughout the U.S. and Canada. Through Safety, Respect, Responsiveness, Creativity, Integrity, Initiative, and Teamwork, we are creating connections that empower people. Consistently recognized as one of the top five specialty electrical construction firms by Engineering News Record, we partner with utilities, power companies, commercial clients, and developers to deliver some of the largest electrical infrastructure, commercial and industrial, and clean energy projects. MYR Group consists of the following subsidiaries: The L.E. Myers Co. Sturgeon Electric Company, Inc. Sturgeon Electric California, LLC Harlan Electric Company MYR Energy Services, Inc. Great Southwestern Construction, Inc. E.S. Boulos Company High Country Line Construction, Inc. Huen Electric CSI Electrical Contractors, Inc. Western Pacific Enterprises Ltd. Powerline Plus Ltd. ________________________________________ To learn more about our company and discover career opportunities with us, visit our website: https://myrgroup.com/ View Source10: Since 1891, MYR Group (publicly traded on NASDAQ under the symbol MYRG) and our family of companies have operated responsibly with our mission, vision, and values at the core of everything we do. View Source11: MYR Group Inc. Overview Engineering & Construction / Industrials View Source
LOW RISK
MYR Group Inc. maintains a strong financial position, with a reported total asset value of $1.58 billion and shareholders' equity of $663.7 million as of March 31, 2024 12. The company also has significant borrowing availability of $434.3 million under its $490 million revolving credit facility, indicating a robust liquidity position 13. Despite some challenges, such as increased selling, general, and administrative expenses, and interest expenses due to higher debt balances and rising interest rates, the company remains profitable with quarterly revenues of $815.6 million and net income of $18.9 million 1415. Additionally, MYR Group has a solid pipeline of future projects, with a backlog of $2.43 billion as of March 31, 2024 16. These factors collectively suggest that MYR Group Inc. can cover its costs and spending plans, positioning it as a low-risk investment.
MYR Group Inc. maintains a strong financial position, with a reported total asset value of $1.58 billion and shareholders' equity of $663.7 million as of March 31, 2024 12. The company also has significant borrowing availability of $434.3 million under its $490 million revolving credit facility, indicating a robust liquidity position 13. Despite some challenges, such as increased selling, general, and administrative expenses, and interest expenses due to higher debt balances and rising interest rates, the company remains profitable with quarterly revenues of $815.6 million and net income of $18.9 million 1415. Additionally, MYR Group has a solid pipeline of future projects, with a backlog of $2.43 billion as of March 31, 2024 16. These factors collectively suggest that MYR Group Inc. can cover its costs and spending plans, positioning it as a low-risk investment.
12: As of March 31, 2024, MYR Group reported a strong balance sheet with $434.3 million of borrowing availability under its $490 million revolving credit facility. The company's total assets were $1.58 billion, with shareholders' equity at $663.7 million. View Source13: As of March 31, 2024, MYR Group reported a strong balance sheet with $434.3 million of borrowing availability under its $490 million revolving credit facility. The company's total assets were $1.58 billion, with shareholders' equity at $663.7 million. View Source14: On May 1, 2024, MYR Group Inc. (NASDAQ:MYRG), a leader in electrical construction services in the U.S. and Canada, disclosed its financial results for the first quarter of 2024 through its 8-K filing. The company reported quarterly revenues of $815.6 million and net income of $18.9 million, or $1.12 per diluted share. These figures show a slight deviation from analyst expectations, which projected revenues of $854.13 million and earnings per share (EPS) of $1.16. View Source15: However, MYR faced challenges including increased selling, general, and administrative expenses, which rose to $62.2 million due to higher employee-related costs and incentive compensation. Interest expenses also grew due to higher debt balances and rising interest rates. View Source16: Looking ahead, MYR Group is cautiously optimistic about its performance for the remainder of 2024, focusing on overcoming the supply chain disruptions and regulatory hurdles that have impacted the industry. The company's backlog as of March 31, 2024, stood at $2.43 billion, indicating a solid pipeline of future projects, although this represents a decrease from the previous year. View Source
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There is no information indicating that MYR Group Inc. is launching any new product offerings [f34402-f34286]NO
There is no information indicating that MYR Group Inc. is launching any new product offerings [f34402-f34286].
There is no information indicating that MYR Group Inc. is launching any new product offerings [f34402-f34286]NO
There is no information indicating that MYR Group Inc. is launching any new product offerings [f34402-f34286].
MYR Group Inc. is strategically positioned for growth and expansion from 2024 through 2026, focusing on enhancing its capabilities in both the Transmission & Distribution (T&D) and Commercial & Industrial (C&I) segments. The company aims to capitalize on the increasing demand for clean energy projects, including solar facilities and energy storage, through its subsidiary MYR Energy Services [fERROR]MYR Group Inc. is strategically positioned for growth and expansion from 2024 through 2026, focusing on enhancing its capabilities in both the Transmission & Distribution (T&D) and Commercial & Industrial (C&I) segments. The company aims to capitalize on the increasing demand for clean energy projects, including solar facilities and energy storage, through its subsidiary MYR Energy Services [fERROR][fERROR]MYR Group Inc. is strategically positioned for growth and expansion from 2024 through 2026, focusing on enhancing its capabilities in both the Transmission & Distribution (T&D) and Commercial & Industrial (C&I) segments. The company aims to capitalize on the increasing demand for clean energy projects, including solar facilities and energy storage, through its subsidiary MYR Energy Services [fERROR][fERROR]. Additionally, MYR Group is committed to overcoming industry challenges such as supply chain disruptions and regulatory hurdles, while maintaining a strong financial position with a solid backlog of $2.43 billion as of March 31, 2024 [fERROR]MYR Group Inc. is strategically positioned for growth and expansion from 2024 through 2026, focusing on enhancing its capabilities in both the Transmission & Distribution (T&D) and Commercial & Industrial (C&I) segments. The company aims to capitalize on the increasing demand for clean energy projects, including solar facilities and energy storage, through its subsidiary MYR Energy Services [fERROR][fERROR]. Additionally, MYR Group is committed to overcoming industry challenges such as supply chain disruptions and regulatory hurdles, while maintaining a strong financial position with a solid backlog of $2.43 billion as of March 31, 2024 [fERROR][fERROR]MYR Group Inc. is strategically positioned for growth and expansion from 2024 through 2026, focusing on enhancing its capabilities in both the Transmission & Distribution (T&D) and Commercial & Industrial (C&I) segments. The company aims to capitalize on the increasing demand for clean energy projects, including solar facilities and energy storage, through its subsidiary MYR Energy Services [fERROR][fERROR]. Additionally, MYR Group is committed to overcoming industry challenges such as supply chain disruptions and regulatory hurdles, while maintaining a strong financial position with a solid backlog of $2.43 billion as of March 31, 2024 [fERROR][fERROR]. The company also plans to leverage its innovative practices and skilled workforce to deliver superior project outcomes and exceptional customer service, further solidifying its reputation as a leader in specialty electrical construction [fERROR]MYR Group Inc. is strategically positioned for growth and expansion from 2024 through 2026, focusing on enhancing its capabilities in both the Transmission & Distribution (T&D) and Commercial & Industrial (C&I) segments. The company aims to capitalize on the increasing demand for clean energy projects, including solar facilities and energy storage, through its subsidiary MYR Energy Services [fERROR][fERROR]. Additionally, MYR Group is committed to overcoming industry challenges such as supply chain disruptions and regulatory hurdles, while maintaining a strong financial position with a solid backlog of $2.43 billion as of March 31, 2024 [fERROR][fERROR]. The company also plans to leverage its innovative practices and skilled workforce to deliver superior project outcomes and exceptional customer service, further solidifying its reputation as a leader in specialty electrical construction [fERROR][fERROR]MYR Group Inc. is strategically positioned for growth and expansion from 2024 through 2026, focusing on enhancing its capabilities in both the Transmission & Distribution (T&D) and Commercial & Industrial (C&I) segments. The company aims to capitalize on the increasing demand for clean energy projects, including solar facilities and energy storage, through its subsidiary MYR Energy Services [fERROR][fERROR]. Additionally, MYR Group is committed to overcoming industry challenges such as supply chain disruptions and regulatory hurdles, while maintaining a strong financial position with a solid backlog of $2.43 billion as of March 31, 2024 [fERROR][fERROR]. The company also plans to leverage its innovative practices and skilled workforce to deliver superior project outcomes and exceptional customer service, further solidifying its reputation as a leader in specialty electrical construction [fERROR][fERROR].