MYR Group Reports Q3 2024 Earnings with Revenue Decline and Margin Pressures
MYR Group (MYRG) reported Q3 2024 earnings with total revenue of $888 million, a 5.5% year-over-year decline. Transmission and Distribution revenue fell 12% due to reduced transmission projects, while Commercial and Industrial revenue grew 4%. Gross margin dropped to 8.7% from 9.8% due to losses on clean energy projects.
Tickers: $MYRG
Topics: earnings report financial performance margin decline operating income revenue