MYR Group Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Simply Wall St

November 01, 2024

MYR Group (NASDAQ:MYRG) Third Quarter 2024 Results

Key Financial Results

Revenue: US$888.0m (down 5.5% from 3Q 2023).
Net income: US$10.6m (down 51% from 3Q 2023).
Profit margin: 1.2% (down from 2.3% in 3Q 2023). The decrease in margin was driven by lower revenue.
EPS: US$0.65 (down from US$1.29 in 3Q 2023).

earnings-and-revenue-growth — NasdaqGS:MYRG Earnings and Revenue Growth November 1st 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

MYR Group EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) exceeded analyst estimates by 55%.

Looking ahead, revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Construction industry in the US.

Performance of the American Construction industry.

The company's shares are up 15% from a week ago.

Risk Analysis

Be aware that MYR Group is showing 1 warning sign in our investment analysis that you should know about...

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.