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Last $31.20 USD
Change Today -0.50 / -1.58%
Volume 199.7K
As of 8:10 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

myr group inc/delaware (MYRG) Key Developments

MYR Group, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

MYR Group, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported contract revenues of $250,979,000 against $254,581,000 a year ago. Income from operations was $22,470,000 against $15,786,000 a year ago. Income before provision for income taxes was $22,296,000 against $15,590,000 a year ago. Net income was $14,127,000 or $0.66 diluted per share against $10,022,000 or $0.46 diluted per share a year ago. Net cash flow from operating activities was $21,352,000 against $23,569,000 a year ago. Purchases of property and equipment were $3,053,000 against $11,185,000 a year ago. EBITDA was $31,090,000 or $1.47 diluted per share against $23,515,000 or $1.09 diluted per share a year ago. The decline in revenue was primarily due to lower revenues on several large transmission projects that were substantially complete or nearing completion, which were partially offset by higher distribution revenues. For the year, the company reported contract revenues of $943,967,000 against $902,729,000 a year ago. Income from operations was $58,404,000 against $55,617,000 a year ago. Income before provision for income taxes was $57,950,000 against $54,872,000 a year ago. Net income was $36,544,000 or $1.69 diluted per share against $34,759,000 or $1.61 diluted per share a year ago. Net cash flow from operating activities was $54,976,000 against $95,062,000 a year ago. Purchases of property and equipment were $39,045,000 against $42,725,000 a year ago. EBITDA was $91,989,000 or $4.29 diluted per share against $84,785,000 or $3.96 diluted per share a year ago. Book value per diluted share as on December 31, 2014 was $15.03 against $13.82 as at December 31, 2013. Tangible book value per diluted share as on December 31, 2014 was $12.40 against $11.17 as at December 31, 2013. Return on assets was 7.0% against 7.5% a year ago. Return on equity was 12.3% against 13.6% a year ago.

MYR Group Seeks Acquisitions

MYR Group, Inc. (NasdaqGS:MYRG) is seeking acquisitions. MYR Group said, "Although we believe that we have adequate cash and availability under our credit facility to meet our liquidity needs, our involvement in any multi-year transmission projects or the acquisition of other companies may require additional capital, depending upon the size of the project or the acquisition and the financial terms of the underlying agreement."

MYR Group, Inc. to Report Q4, 2014 Results on Mar 11, 2015

MYR Group, Inc. announced that they will report Q4, 2014 results at 5:00 PM, Eastern Standard Time on Mar 11, 2015

MYR Group, Inc., Q4 2014 Earnings Call, Mar 12, 2015

MYR Group, Inc., Q4 2014 Earnings Call, Mar 12, 2015

MYR Group, Inc. Announces Executive Changes

On November 4, 2014, Mr. Gregory T. Wolf submitted his resignation from MYR Group Inc. and from his position as the company’s Vice President and Chief Accounting Officer to pursue other professional opportunities. Mr. Wolf served as the company’s principal accounting officer. In connection with Mr. Wolf’s resignation, effective November 4, 2014, the Board of Directors of the company appointed Mr. Paul J. Evans to the position of Principal Accounting Officer. In addition, Mr. Evans will continue to serve as the company’s Vice President, Chief Financial Officer and Treasurer.

 

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Industry Analysis

MYRG

Industry Average

Valuation MYRG Industry Range
Price/Earnings 18.5x
Price/Sales 0.7x
Price/Book 2.0x
Price/Cash Flow 17.6x
TEV/Sales 0.6x
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