MYR Group posts record 2023 revenue of $3.64 billion and net income of $91.0 million
MYR Group reported fourth-quarter and full-year 2023 results on February 28, 2024, with full-year contract revenues of $3.64 billion, up 21.1 percent, and full-year net income of $91.0 million, or $5.40 per diluted share, up from $4.91 a year earlier. Fourth-quarter net income was $24.0 million, or $1.43 per diluted share, down from $1.46 in the same quarter of 2022, while fourth-quarter revenue rose 16.2 percent. The company's backlog was $2.51 billion at December 31, 2023.
Key points
- Q4 2023 revenue was $1.00 billion, up $140.2 million or 16.2 percent from Q4 2022
- Full-year 2023 net income was $91.0 million, or $5.40 per diluted share, versus $83.4 million, or $4.91 per diluted share, in 2022
- Full-year gross margin fell to 10.0 percent from 11.4 percent, while Q4 net income declined 2.2 percent
- Backlog was $2.51 billion at December 31, 2023, compared with $2.62 billion at September 30, 2023
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:01 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 28, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.