Q1 2025 MYR Group Inc Earnings Call Transcript

May 1, 2025 / 02:00 PM GMT

Release Date Price: €109

Transcript 10-Q8-K

Key Points

Positve

MYR Group Inc (MYRG) reported a 2.2% increase in first-quarter revenues, reaching $834 million compared to the same period last year.
The company's CNI segment saw a significant revenue increase of 14.4%, driven by fixed price contracts and T&E contracts.
Gross margin improved to 11.6% from 10.6% in the previous year, aided by favorable change orders and better-than-anticipated productivity.
Operating cash flow for the first quarter was $83 million, a substantial increase from $8 million in the same period last year.
Total backlog increased by 9% year-over-year, reaching $2.64 billion, indicating strong future business prospects.

Negative

T&D revenues decreased by 5.8% compared to the same period last year, primarily due to selectivity on clean energy projects.
Higher costs related to labor and project inefficiencies partially offset the increase in gross margin.
The effective tax rate increased to 28.9% from 18% in the previous year, impacting net income.
Interest expense rose by $300,000 due to higher average outstanding debt balances.
The company exhausted its current share repurchase program, with no immediate plans to announce a new one.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MYRG.OQ - MYR Group Inc
Q1 2025 MYR Group Inc Earnings Call
May 01, 2025 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning everyone and welcome to the NYR group first quarter 2025 earnings results conference call. At this time, all participants are listen-only mode. After the speaker's presentation, there will be a question answer session. To ask a question during a session, you need to press 101 on your telephone. You will then hear an automated message advising that your hand is raised. To withdraw your question, please press 101 again. Today's conference is being recorded at this time for opening remarks and introductions. I would like to turn the call over to Jennifer Harper, MYR Group, Vice President of Investoral relations and treasurer. Please go ahead, Jennifer.

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