MYR Group Earnings: What To Look For From MYRG

MYRG Cover Image

Electrical construction and infrastructure services provider MYR Group (NASDAQ: MYRG) will be reporting results this Wednesday after market close. Hereโ€™s what to look for.

MYR Group beat analystsโ€™ revenue expectations by 6% last quarter, reporting revenues of $900.3 million, up 8.6% year on year. It was a strong quarter for the company, with an impressive beat of analystsโ€™ adjusted operating income estimates and a solid beat of analystsโ€™ revenue estimates.

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

This quarter, analysts are expecting MYR Groupโ€™s revenue to grow 4.1% year on year to $924.7 million, a reversal from the 5.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.92 per share.

MYR Group Total Revenue

Analysts covering the company have generally 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 Streetโ€™s revenue estimates four times over the last two years.

Looking at MYR Groupโ€™s peers in the construction and engineering segment, only Comfort Systems has reported results so far. It beat analystsโ€™ revenue estimates by 13.2%, delivering year-on-year sales growth of 35.2%. The stock traded up 18.9% on the results.

Read our full analysis of Comfort Systemsโ€™s earnings results here.

There has been positive sentiment among investors in the construction and engineering segment, with share prices up 3.8% on average over the last month. MYR Group is up 5.4% during the same time and is heading into earnings with an average analyst price target of $218 (compared to the current share price of $218.13).

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