MYR Group

Energy & Utilities Manufacturing & Industrial electricity energy infrastructure engineering

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.

Revenue(FY, 2017)

$1.4 B

Market capitalization(2018-04-20)

$508.4 M

Backlog(FY, 2017)

$679.1 M

Type

Public

Rolling Meadows, US

Founded

1982

Size (employees)

4,600 (est)

Website

myrgroup.com

MYR Group was founded in 1982 and is headquartered in Rolling Meadows, US

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Key People/Management at MYR Group

Rick Swartz

President and Chief Executive Officer

Gerald Engen

Senior Vice President, Chief Legal Officer and Secretary

Betty Johnson

Senior Vice President, Chief Financial Officer and Treasurer

Tod Cooper

Senior Vice President & Chief Operating Officer of T&D

Jeff Waneka

Senior Vice President & Chief Operating Officer of C&I

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MYR Group Office Locations

MYR Group has offices in Vancouver, Coquitlam, Nisku, Winnipeg and in 44 other locations

Rolling Meadows, US (HQ)

3 1701 Golf Rd

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MYR Group Financials and Metrics

MYR Group Financials

MYR Group's revenue was reported to be $1.40 b in FY, 2017 which is a 22.8% increase from the previous period.

Summary

USD
Revenue (FY, 2017)	1.4 b
Revenue growth (FY, 2016 - FY, 2017), %	22.8%
Gross profit (FY, 2017)	125 m
Gross profit margin (FY, 2017), %	8.9%
Net income (FY, 2017)	21.2 m
EBIT (FY, 2017)	29.6 m
Market capitalization (20-Apr-2018)	508.4 m
Cash (31-Dec-2017)	5.3 m
EV	583.1 m

MYR Group's current market capitalization is $508.4 m.

Source: SEC Filings

Income Statement

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Revenue	902.7 m	944 m	1.1 b	1.1 b	1.4 b
Revenue growth, %		5%	12%	8%	23%
Cost of goods sold	777.9 m	811.6 m	939.3 m	1 b	1.3 b
Gross profit	124.9 m	132.4 m	122.3 m	134.7 m	125 m

Quarterly

USD	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017
Revenue	244.1 m	276.5 m	269.9 m	253.6 m	261.9 m	283.3 m	300.1 m	356.2 m	373.5 m
Cost of goods sold	214.8 m	244.8 m	241.2 m	226.4 m	230.5 m	249.2 m	274.4 m	328.7 m	338.6 m
Gross profit	29.4 m	31.7 m	28.6 m	27.3 m	31.4 m	34.1 m	25.7 m	27.5 m	34.9 m
Gross profit Margin, %	12%	11%	11%	11%	12%	12%	9%	8%	9%

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Source: SEC Filings

Balance Sheet

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Cash	76.5 m	77.6 m	39.8 m	23.8 m	5.3 m
Accounts Receivable	173.5 m	158.1 m	187.2 m	234.6 m	283 m
Current Assets	323.9 m	313.5 m	303.4 m	357.6 m	379.7 m
PP&E	142.9 m	148.7 m	160.7 m	154.9 m	148.1 m

Quarterly

USD	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017
Cash	61.8 m	46.9 m	30.4 m	26 m	3.4 m	584 k	6.9 m	10 m	1.7 m
Accounts Receivable	156.9 m	176.4 m	193.1 m	172.8 m	161.9 m	185.5 m	222.5 m	222.2 m	274.2 m
Current Assets	314.4 m	336.5 m	335.2 m	290 m	254 m	286 m	330.7 m	338.2 m	393.4 m
PP&E	156 m	165.9 m	164.9 m	153.8 m	156.2 m	153 m	156.5 m	155.6 m	150.2 m

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Cash Flow

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Net Income	34.8 m	36.5 m	27.3 m	21.4 m	21.2 m
Depreciation and Amortization	28.9 m	33.1 m	37.5 m	38.2 m	38.1 m
Accounts Payable	(5.3 m)	(17.3 m)	6.7 m	17.3 m	8.1 m
Cash From Operating Activities	95.1 m	55 m	43 m	54.5 m	(9.2 m)

Quarterly

USD	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017
Net Income	7.2 m	15.2 m	21.4 m	2 m	7.5 m	13.6 m	1.2 m	2.4 m	7.6 m
Depreciation and Amortization	83 k	84 k	84 k	9.7 m	19.2 m	188 k	188 k	19.1 m	28.9 m
Accounts Payable	5.2 m	20.7 m	17 m	8 m	5.2 m	11 m	(10.3 m)	15.4 m	14.8 m
Cash From Operating Activities	1.4 m	9 m	10.7 m	14.4 m	46.5 m	40.5 m	13.1 m	19.2 m	(21.8 m)

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Ratios

USD	Y, 2017
EV/EBIT	19.7 x
EV/CFO	-63.4 x
Revenue/Employee	305.1 k
Debt/Equity	0.3 x
Debt/Assets	0.1 x
Financial Leverage	2.1 x

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MYR Group Operating Metrics

MYR Group's Backlog was reported to be $679.1m in FY, 2017.

	FY, 2014	Q1, 2015	Q2, 2015	Q3, 2015	FY, 2015	Q1, 2016	Q2, 2016	Q3, 2016	FY, 2016	Q1, 2017	Q2, 2017	Q3, 2017	FY, 2017
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
Maintenance Facilities	20				20				21				21

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MYR Group Acquisitions / Subsidiaries

Acquired Company	Date	Deal Size
MYR Transmission Services, Inc.
MYR Equipment, LLC
MYR Transmission Services Canada, Ltd.
E.S. Boulos Company
Sturgeon Electric California, LLC
Great Southwestern Construction, Inc.
Harlan Electric Company
MYR Real Estate Holdings, LLC
High Country Line Construction, Inc.
Western Pacific Enterprises Ltd.