MYR Group Inc ( (MYRG) ) has released its Q2 earnings. Here is a breakdown of the information MYR Group Inc presented to its investors.
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MYR Group Inc. is a specialty electrical construction service provider operating in the Transmission and Distribution (T&D) and Commercial and Industrial (C&I) sectors, offering a wide range of services including design, engineering, and maintenance. In its latest earnings report for the quarter ending June 30, 2025, MYR Group Inc. reported significant growth in contract revenues, reaching $900.3 million, up from $828.9 million in the same period last year. The company also saw a substantial increase in net income, reporting $26.5 million compared to a loss of $15.3 million in the previous year. Key financial highlights include a gross profit of $103.7 million and a positive shift in comprehensive income to $31.3 million. The company experienced a notable improvement in its cash position, with cash and cash equivalents rising to $22.9 million from $3.5 million at the end of 2024. Looking ahead, MYR Group Inc. remains focused on executing its backlog of $2.33 billion in remaining performance obligations, with a substantial portion expected to be recognized within the next year, indicating a strong outlook for continued growth.