MYR GROUP Reports Earnings Results for Q2 of FY2023
July 30, 2023
🌥️Earnings Overview
For the second quarter of FY2023, MYR GROUP ($NASDAQ:MYRG) reported a total revenue of USD 888.6 million, an increase of 25.5% from the same quarter a year prior. Net income for the period ended June 30, 2023 was USD 22.3 million, a 13.2% year-over-year rise.
Price History
On Wednesday, MYR GROUP reported their earnings results for the second quarter of the fiscal year 2023, with a closing stock price of $148.2, down 1.1% from the previous closing price of $149.9. Overall, MYR GROUP’s earnings report for the second quarter of FY2023 was largely positive, and investors responded positively to the news. Despite the slight dip in stock prices, investors remain confident in the company’s future prospects, as evidenced by the steady rise in the stock price since the start of the fiscal year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Myr Group. More…
| Total Revenues | Net Income | Net Margin |
| 3.36k | 88.44 | 2.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Myr Group. More…
| Operations | Investing | Financing |
| 123.21 | -84.36 | -35.67 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Myr Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.46k | 860.5 | 36.16 |
Key Ratios Snapshot
Some of the financial key ratios for Myr Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.5% | 19.6% | 3.7% |
| FCF Margin | ROE | ROA |
| 1.0% | 13.2% | 5.3% |
Analysis
We recently conducted an analysis of MYR GROUP‘s financials and determined that they are a medium risk investment. This assessment was based on an evaluation of the company’s financial and business aspects. Our analysis also identified one risk warning in the balance sheet. If you’re interested in learning more about these identified risks, you’ll need to register with us. We look forward to having you join our platform and helping you make informed investment decisions. More…
Peers
The competition between MYR Group Inc and its competitors, AcroMeta Group Ltd, Takada Corp, and GenusPlus Group Ltd, is fierce. All four companies are striving to stay ahead of the competition by providing quality products and services that meet the needs and expectations of their customers. Each company is competing to remain competitive in the marketplace and gain a competitive advantage over its rivals.
– AcroMeta Group Ltd ($SGX:43F)
AcroMeta Group Ltd is a company that provides software development, optimization and data services for a variety of businesses. The company currently has a market cap of 6.24M as of 2022 and a Return on Equity of -7.35%. The market cap indicates the total value of the company and is indicative of the level of investor confidence in the firm. The Return on Equity, on the other hand, is a measure of the profitability of the company and reflects how well it is able to generate returns from its equity investments. AcroMeta Group Ltd is a company that is continuing to grow and expand, and despite the current negative return on equity, investors are still confident in the potential of the company.
– Takada Corp ($TSE:1966)
Takada Corp is a Japanese electronics and technology company that specializes in the production of consumer-level electronic products. The company has a market capitalization of 9.43 billion as of 2022, indicating a significant value for the company. Additionally, Takada Corp has a return on equity of 6.87%, which is well above the industry average. This implies that the company is able to generate returns from its shareholders’ investments, making it an attractive investment opportunity.
– GenusPlus Group Ltd ($ASX:GNP)
GenusPlus Group Ltd is a leading international company providing innovative solutions for businesses in the technology, financial services, and consulting industries. The company has a market capitalization of 177.72 million as of 2022, which reflects the current value of its outstanding shares. GenusPlus Group Ltd also has an impressive Return on Equity of 16.18%, which indicates the company’s ability to generate profits from its operations. This strong performance is likely due to the company’s focus on providing cutting-edge technology solutions to its clients. GenusPlus Group Ltd also provides a wide range of consulting services, helping business leaders improve their performance and maximize their potential.
Summary
Investors are encouraged by the positive results reported by MYR Group in the second quarter of FY2023. Total revenue was up 25.5%, while net income rose 13.2% compared to the same period last year. These strong financial metrics are indicative of a strong underlying business performance and suggest that the company is well-positioned to continue its upward trajectory. MYR Group has demonstrated a consistent ability to increase profits and generate cash flow, making it an attractive investment opportunity for those seeking to capitalize on its potential long-term growth.
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