Filing Flows › MYR Group (MYRG) › Q1 2025
MYR Group (MYRG) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 30, 2025
MYR Group (MYRG) reported revenue of $834M for the first quarter 2025 (Q1 2025), +2% from a year earlier and +0.5% from the quarter before. Operating margin was 4.1%, net earnings $23.3M (2.8% of revenue).
MYR Group, Q1 2025: revenue $834M (+2% year over year), operating margin 4.1%, net earnings $23.3M, operating cash flow $83.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $834M | +0.5% | +2% |
| Gross profit | $96.9M | +13% | +12% |
| Operating profit | $34.3M | +14% | +41% |
| Net earnings | $23.3M | +46% | +23% |
| Operating cash flow | $83.3M | +294% | +983% |
| Free cash flow | $70.2M | +697% | — |
What changed
Revenue was $833.6M in Q1 2025, up 2% year over year and roughly flat from the previous quarter. T&D was the largest line at 55% of revenue. C&I added $46.7M year over year (up 14%), 259% of the total change. T&D declined 6%.
Gross margin was 11.6%, up 1.0 points from a year earlier. Operating profit was $34.3M, a 4.1% margin (up 1.1 points year over year). Of the extra revenue versus a year earlier, 55% reached operating profit, above the 3% margin then. Operating expenses grew 1% against revenue growth of 2%. Net earnings were $23.3M, up 23% year over year. The effective tax rate was 28.9%.
Operating cash flow was $83.3M (up 983% year over year), 357% of net earnings. Non-cash charges added back $16.2M of depreciation and amortization and $2.3M of share-based compensation. Working capital and other items added $41.5M. Capital expenditures of $13.1M left free cash flow of $70.2M.
Questions
What was MYR Group's revenue in the first quarter 2025?
MYR Group (MYRG) reported revenue of $834M for the first quarter 2025 (Q1 2025), +2% from a year earlier and +0.5% from the quarter before.
Was MYR Group profitable in the first quarter 2025?
Operating profit was $34.3M (4.1% of revenue) and net earnings $23.3M.
Source: MYR Group 10-Q on SEC EDGAR.