Earnings To Watch: MYR Group (MYRG) Reports Q4 Results Tomorrow

Electrical construction and infrastructure services provider MYR Group (NASDAQ:MYRG) will be announcing earnings results this Wednesday after market close. Here’s what investors should know.

MYR Group beat analysts’ revenue expectations last quarter, reporting revenues of $950.4 million, up 7% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ revenue estimates and a solid beat of analysts’ adjusted operating income estimates.

Is MYR Group a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting MYR Group’s revenue to grow 8.6% year on year, a reversal from the 17.4% decrease it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MYR Group has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at MYR Group’s peers in the construction and maintenance services segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Primoris delivered year-on-year revenue growth of 6.7%, beating analysts’ expectations by 3.3%, and Comfort Systems reported revenues up 41.7%, topping estimates by 13%. Comfort Systems traded up 6% following the results.

Read our full analysis of Primoris’s results here and Comfort Systems’s results here.

There has been positive sentiment among investors in the construction and maintenance services segment, with share prices up 4.3% on average over the last month. MYR Group is up 8.8% during the same time and is heading into earnings with an average analyst price target of $254.33 (compared to the current share price of $273.93).

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