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 on Nov 8, 2026, 1:01 AM ET, from this filing 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.
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