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

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).

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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