Flash FinanceUS
Market closed · weekend S&P 5007,376.86+0.31% Nasdaq24,579.42+1.09% Dow 3051,285.73-0.46% Russell 20002,754.11+0.89% Nasdaq-10026,989.99+1.35% MidCap 4003,602.50+0.56% SmallCap 6001,673.98+0.05% VIX25.64-9.01% 10Y Yield4.86+0.45% Close of Nov 06, 2026
AI brief of an SEC Form 8-K · MYR Group (MYRG)

MYR Group Q3 profit falls to $10.6 million as revenue slips 5.5%

Negative Impact 3 of 5 earnings Written later

MYR Group reported third-quarter 2024 revenue of $888.0 million, down 5.5% from a year earlier, and net income of $10.6 million, or $0.65 per diluted share, versus $1.28 in the third quarter of 2023. For the first nine months, revenue was $2.53 billion, down 4.1%, and net income was $14.3 million, or $0.86 per diluted share, compared with $3.98 a year earlier, so shareholders saw lower revenue and sharply lower earnings.

Key points

  • Q3 gross margin fell to 8.7% from 9.8%, which the company attributed mainly to clean energy projects in T&D and an unfavorable C&I project
  • Q3 EBITDA was $37.2 million, compared with $47.0 million in the third quarter of 2023
  • Backlog was $2.60 billion at September 30, 2024, up from $2.54 billion at June 30, 2024 but down $19.7 million from a year earlier
  • A conference call to discuss the results is scheduled for October 31, 2024 at 8:00 a.m. Mountain time

The filing

CompanyMYR Group (MYRG)
Form8-K, current report
Filed with the SECOct 30, 2024, 4:03 PM ET
Accession number0000700923-24-000051

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

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 October 30, 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.