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AI brief of an SEC Form 8-K · MYR Group (MYRG)

MYR Group swings to Q2 net loss of $15.3 million on lower revenue and margins

Negative Impact 3 of 5 earnings Written later

MYR Group reported second-quarter 2024 revenue of $828.9 million, down 6.7 percent from a year earlier, and a net loss of $15.3 million, or $0.91 per diluted share, versus net income of $22.3 million a year earlier. The company attributed the decline mainly to unfavorable clean energy projects in its T&D segment and one C&I project, and said it expects those projects to reach mechanical completion this year.

Key points

  • Q2 2024 revenue $828.9 million, down $59.7 million (6.7 percent) from Q2 2023
  • Q2 2024 net loss $15.3 million, or $0.91 per diluted share, versus net income of $22.3 million, or $1.33 per diluted share, in Q2 2023
  • Gross margin fell to 4.9 percent from 10.1 percent; backlog was $2.54 billion as of June 30, 2024
  • First-half 2024 net income $3.7 million, or $0.22 per diluted share, versus $45.4 million, or $2.70, a year earlier

The filing

CompanyMYR Group (MYRG)
Form8-K, current report
Filed with the SECJul 31, 2024, 4:16 PM ET
Accession number0000700923-24-000043

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

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 July 31, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.