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MYR Group Earnings: What To Look For From MYRG

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MYRG Cover Image

Electrical construction and infrastructure services provider MYR Group (NASDAQ: MYRG) will be announcing earnings results this Wednesday after market hours. Here’s what you need to know.

MYR Group beat analysts’ revenue expectations last quarter, reporting revenues of $973.5 million, up 17.3% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS and EBITDA estimates.

Is MYR Group a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting MYR Group’s revenue to grow 11.6% year on year, improving from the 2.2% increase it recorded in the same quarter last year.

MYR Group Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MYR Group has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at MYR Group’s peers in the construction and engineering segment, only Comfort Systems has reported results so far. It exceeded analysts’ revenue estimates, delivering year-on-year sales growth of 56.5%. The stock was down 2.9% on the results.

Read our full analysis of Comfort Systems’s earnings results here.

There has been positive sentiment among investors in the construction and engineering segment, with share prices up 15.1% on average over the last month. MYR Group is up 30% during the same time and is heading into earnings with an average analyst price target of $314.67 (compared to the current share price of $347.11).

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