MYR Group

OverviewSuggest Edit

MYR Group is a specialty contractor serving the electrical infrastructure industry and commercial and industrial markets. The Company provides a broad range of services on electric transmission and distribution networks and substation facilities, which include design, engineering, procurement, construction, upgrade, maintenance and repair services, with a particular focus on construction, maintenance, and repair, to customers in the electric utility and the renewable energy industries. MYR Group also provides storm restoration services in response to hurricane, ice or other storm-related damage. In addition, it provides services such as the design, installation, maintenance and repair of commercial and industrial wiring, installation of traffic networks and the installation of bridge, roadway and tunnel lighting.

TypePublic
Founded1891
HQRolling Meadows, USMap
Websitemyrgroup.com
Employee Ratings3.6More
View Jobs (40)

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Latest Updates

Employees (est.) (Dec 2019)7,100(+30%)
Job Openings40
Revenue (FY, 2019)$2.1 B(+36%)
Share Price (Oct 2020)$44.5 (-1%)
Cybersecurity ratingAMore

Key People/Management at MYR Group

Richard S. Swartz

Richard S. Swartz

President and Chief Executive Officer
Kenneth M. Hartwick

Kenneth M. Hartwick

Chairman of the Board of Directors
Tod M. Cooper

Tod M. Cooper

Senior Vice President & Chief Operating Officer of Transmission & Distribution
Jeffrey J. Waneka

Jeffrey J. Waneka

Senior Vice President & Chief Operating Officer of Commercial & Industrial
Betty R. Johnson

Betty R. Johnson

Senior Vice President, Chief Financial Officer, and Treasurer
Bradley T. Favreau

Bradley T. Favreau

Director
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MYR Group Office Locations

MYR Group has offices in Rolling Meadows, Alvarado, Anchorage, Auburn and in 38 other locations
Rolling Meadows, US (HQ)
1701 Golf Rd Suite 3-1012
Alvarado, US
Alvarado, TX 76009, USA
Anchorage, US
Anchorage, AK, USA
Auburn, US
Auburn, ME 04210, USA
Aurora, US
Aurora, IL, USA
Bloomfield, US
Bloomfield, CT, USA
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MYR Group Financials and Metrics

MYR Group Revenue

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MYR Group's revenue was reported to be $2.07 b in FY, 2019
USD

Revenue (Q2, 2020)

513.1m

Gross profit (Q2, 2020)

61.3m

Gross profit margin (Q2, 2020), %

11.9%

Net income (Q2, 2020)

13.4m

EBIT (Q2, 2020)

19.3m

Market capitalization (16-Oct-2020)

744.2m

Closing stock price (16-Oct-2020)

44.5

Cash (30-Jun-2020)

10.0m

EV

840.8m
MYR Group's current market capitalization is $744.2 m.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019

Revenue

902.7m944.0m1.1b1.1b1.4b1.5b2.1b

Revenue growth, %

5%12%8%23%9%

Cost of goods sold

777.9m811.6m939.3m1.0b1.3b1.4b1.9b

Gross profit

124.9m132.4m122.3m134.7m125.0m167.1m214.2m
Quarterly
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Revenue

244.1m276.5m269.9m253.6m261.9m283.3m300.1m356.2m373.5m345.6m339.7m399.5m468.1m448.8m583.2m518.5m513.1m

Cost of goods sold

214.8m244.8m241.2m226.4m230.5m249.2m274.4m328.7m338.6m309.9m301.0m354.3m425.2m405.6m524.0m456.8m451.7m

Gross profit

29.4m31.7m28.6m27.3m31.4m34.1m25.7m27.5m34.9m35.8m38.6m45.3m42.9m43.2m59.2m61.6m61.3m

Gross profit Margin, %

12%11%11%11%12%12%9%8%9%10%11%11%9%10%10%12%12%
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Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019

Cash

76.5m77.6m39.8m23.8m5.3m7.5m12.4m

Accounts Receivable

173.5m158.1m187.2m234.6m283.0m288.4m388.5m

Prepaid Expenses

8.8m

Current Assets

323.9m313.5m303.4m357.6m379.7m475.6m639.2m
Quarterly
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Cash

61.8m46.9m30.4m26.0m3.4m584.0k6.9m10.0m1.7m1.7m4.2m300.0k1.3m4.4m9.1m34.0m10.0m

Accounts Receivable

156.9m176.4m193.1m172.8m161.9m185.5m222.5m222.2m274.2m256.4m280.0m291.6m298.0m313.5m375.6m349.2m341.5m

Prepaid Expenses

8.4m10.7m7.4m

Current Assets

314.4m336.5m335.2m290.0m254.0m286.0m330.7m338.2m393.4m363.5m383.5m427.0m505.8m513.4m639.4m628.8m594.9m
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Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019

Net Income

34.8m36.5m27.3m21.4m21.2m31.3m36.2m

Depreciation and Amortization

28.9m33.1m37.5m38.2m38.1m39.9m44.5m

Accounts Payable

(5.3m)(17.3m)6.7m17.3m8.1m20.0m22.5m

Cash From Operating Activities

95.1m55.0m43.0m54.5m(9.2m)84.8m64.9m
Quarterly
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Net Income

7.2m15.2m21.4m2.0m7.5m13.6m1.2m2.4m7.6m5.6m12.5m20.4m6.6m13.0m23.4m9.9m23.3m

Depreciation and Amortization

83.0k84.0k84.0k9.7m19.2m188.0k188.0k19.1m28.9m9.3m18.6m28.2m10.5m21.2m33.0m11.9m23.8m

Accounts Payable

5.2m20.7m17.0m8.0m5.2m11.0m(10.3m)15.4m14.8m(3.8m)(9.8m)(13.8m)38.2m27.2m37.9m(18.1m)(38.3m)

Cash From Operating Activities

1.4m9.0m10.7m14.4m46.5m40.5m13.1m19.2m(21.8m)22.0m45.3m58.7m(8.2m)7.4m31.7m35.2m97.9m
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USDFY, 2013

Financial Leverage

1.8 x
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MYR Group Operating Metrics

MYR Group's Backlog was reported to be $1b in Q2, 2018.
FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017Q3, 2017FY, 2017Q1, 2018Q2, 2018

Backlog

$433.64 m$398.40 m$410.70 m$425.10 m$450.93 m$434.80 m$475 m$620.60 m$688.83 m$660.90 m$632.50 m$701.70 m$679.14 m$958.51 m$1.01 b

Maintenance Facilities

20 20 21 21
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MYR Group Acquisitions / Subsidiaries

Company NameDateDeal Size
E.S. Boulos Company
Great Southwestern Construction, Inc.
GSW Integrated Services, LLC
Harlan Electric Company
High Country Line Construction, Inc.
MYR Equipment, LLC
MYR Group Construction Canada, Ltd.
MYR Real Estate Holdings Alaska, LLC
MYR Real Estate Holdings, LLC
MYR Transmission Services Canada, Ltd.
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MYR Group Cybersecurity Score

Cybersecurity ratingPremium dataset

A

90/100

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MYR Group Revenue Breakdown

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MYR Group revenue breakdown by business segment: 62.7% from Transmission and Distribution and 37.3% from Commercial and Industrial

MYR Group Online and Social Media Presence

MYR Group's Trends

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MYR Group News and Updates

September 14, 2020

MYR Group Inc. Awarded Construction Contract with LS Power Grid New York for the Marcy to New Scotland Project

ROLLING MEADOWS, Ill., Sept. 14, 2020 (GLOBE NEWSWIRE) -- MYR Group Inc. (MYR Group) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electrical infrastructure market in the United States and western Canada, announced it has executed a contract with LS Power Grid New …
July 15, 2019

MYR Group Acquires CSI Electrical Contractors, Inc.

ROLLING MEADOWS, Ill., July 15, 2019 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), announced that it has acquired substantially all the assets of CSI Electrical Contractors, Inc. (“CSI”). CSI is a leading full-service electrical contractor headquartered in Santa Fe Springs, Cali…
March 06, 2019

MYR Group Inc. Announces Fourth-Quarter and Full-Year 2018 Results

ROLLING MEADOWS, Ill., March 06, 2019 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and western Canada, today announced i…
February 27, 2019

MYR Group Inc. Announces Fourth-Quarter and Full-Year 2018 Earnings Release and Conference Call Schedule

ROLLING MEADOWS, Ill., Feb. 27, 2019 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and western Canada, today announ…
October 24, 2018

MYR Group Inc. Announces Third-Quarter 2018 Earnings Release and Conference Call Schedule

ROLLING MEADOWS, Ill., Oct. 24, 2018 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and western Canada, today announ…
July 30, 2018

MYR Group Inc. Announces Appointment of New Board Member

ROLLING MEADOWS, Ill., July 30, 2018 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), announced today the appointment of Jennifer E. Lowry to the company’s board of directors (the “Board”), effective July 27, 2018. The Board determined that Ms. Lowry will be a Class I director with…
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MYR Group Blogs

May 19, 2020

Shirin O’Connor

Shirin O’Connor melissa.oneil@… Tue, 05/19/2020 - 13:32 Member of the Compensation Committee Member of the Nominating and Governance Committee Shirin O’Connor Director Ms. O’Connor has served as Director since 2020. Ms. O’Connor is Vice …
April 29, 2020

MYR Group Inc. Announces First-Quarter 2020 Results

ROLLING MEADOWS, Ill., April 29, 2020 (GLOBE NEWSWIRE) — MYR Group Inc. (“MYR”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and western Canada, announced today its …
April 22, 2020

MYR Group Inc. Announces First-Quarter 2020 Earnings Release and Conference Call Schedule

ROLLING MEADOWS, Ill., April 22, 2020 (GLOBE NEWSWIRE) — MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and western Canada, announced it w…
April 01, 2020

MYR Group Inc. Announces Change to a Virtual Meeting Format for 2020 Annual Meeting of Stockholders

ROLLING MEADOWS, Ill., April 01, 2020 (GLOBE NEWSWIRE) — MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and western Canada, announced a ch…
March 17, 2020

Ameren Recognizes MYR Group subsidiary, L.E. Myers’ Decatur, IL District for Safety Excellence Second Year in a Row

For the second consecutive year, long-time client Ameren presented MYR Group subsidiary, The L.E. Myers Co. (L.E. Myers) in Decatur, Illinois with the 2019 Eagle Award for Safety. Award criteria was based on several categories: Lost Work Days Away (LWA) Total Recordable Incidence Rate (TRIR) Prevent…
March 04, 2020

MYR Group Inc. Announces Fourth-Quarter and Full-Year 2019 Results

ROLLING MEADOWS, Ill. , March 04, 2020 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR”) (NASDAQ: MYRG) , a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and western Canada , today announced
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 MYR Group Frequently Asked Questions

  • When was MYR Group founded?

    MYR Group was founded in 1891.

  • Who are MYR Group key executives?

    MYR Group's key executives are Richard S. Swartz, Kenneth M. Hartwick and Tod M. Cooper.

  • How many employees does MYR Group have?

    MYR Group has 7,100 employees.

  • What is MYR Group revenue?

    Latest MYR Group annual revenue is $2.1 b.

  • What is MYR Group revenue per employee?

    Latest MYR Group revenue per employee is $291.7 k.

  • Who are MYR Group competitors?

    Competitors of MYR Group include PTW Energy Services, PESTECH and MMR.

  • Where is MYR Group headquarters?

    MYR Group headquarters is located at 1701 Golf Rd Suite 3-1012, Rolling Meadows.

  • Where are MYR Group offices?

    MYR Group has offices in Rolling Meadows, Alvarado, Anchorage, Auburn and in 38 other locations.

  • How many offices does MYR Group have?

    MYR Group has 43 offices.