$MYRG
MYR GROUP INC.

2023 Q2 Form 10-Q Financial Statement

#000070092323000042 Filed on April 26, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $888.6M $811.6M
YoY Change 25.49% 27.49%
Cost Of Revenue $798.5M $727.2M
YoY Change 27.3% 30.76%
Gross Profit $90.13M $84.39M
YoY Change 11.46% 4.85%
Gross Profit Margin 10.14% 10.4%
Selling, General & Admin $57.78M $56.96M
YoY Change 11.07% 6.35%
% of Gross Profit 64.1% 67.5%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.51M $12.76M
YoY Change -5.76% 7.22%
% of Gross Profit 16.1% 15.12%
Operating Expenses $59.00M $56.96M
YoY Change 13.43% 6.35%
Operating Profit $31.12M $27.43M
YoY Change 18.59% 10.14%
Interest Expense -$961.0K $586.0K
YoY Change -247.85% 29.93%
% of Operating Profit -3.09% 2.14%
Other Income/Expense, Net $120.0K -$90.00K
YoY Change -94.73% 500.0%
Pretax Income $31.60M $27.07M
YoY Change 13.34% 10.75%
Income Tax $9.324M $3.908M
% Of Pretax Income 29.51% 14.44%
Net Earnings $22.27M $23.16M
YoY Change 13.15% 11.96%
Net Earnings / Revenue 2.51% 2.85%
Basic Earnings Per Share $1.33 $1.39
Diluted Earnings Per Share $1.33 $1.38
COMMON SHARES
Basic Shares Outstanding 16.71M shares 16.67M shares
Diluted Shares Outstanding 16.81M shares 16.82M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.85M $47.04M
YoY Change 3.6% 151.12%
Cash & Equivalents $22.85M $47.04M
Short-Term Investments
Other Short-Term Assets $39.64M $34.60M
YoY Change -24.82% -30.9%
Inventory
Prepaid Expenses
Receivables $857.4M $418.8M
Other Receivables $20.32M $15.42M
Total Short-Term Assets $940.2M $848.3M
YoY Change 19.86% 18.55%
LONG-TERM ASSETS
Property, Plant & Equipment $276.0M $267.3M
YoY Change 12.77% 11.64%
Goodwill $117.0M $115.9M
YoY Change 7.91% 4.81%
Intangibles $86.01M $86.39M
YoY Change -12.89% -16.06%
Long-Term Investments $5.933M $4.153M
YoY Change 88.05% 48.75%
Other Assets $5.681M $3.443M
YoY Change 55.18% -6.26%
Total Long-Term Assets $524.6M $511.9M
YoY Change 9.3% 4.47%
TOTAL ASSETS
Total Short-Term Assets $940.2M $848.3M
Total Long-Term Assets $524.6M $511.9M
Total Assets $1.465B $1.360B
YoY Change 15.85% 12.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $337.7M $294.3M
YoY Change 34.2% 31.56%
Accrued Expenses $36.37M $35.05M
YoY Change 10.45% -0.38%
Deferred Revenue $228.8M $220.8M
YoY Change 12.63% 33.69%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $7.524M $5.160M
YoY Change 606.48% 396.63%
Total Short-Term Liabilities $684.6M $624.8M
YoY Change 21.07% 25.4%
LONG-TERM LIABILITIES
Long-Term Debt $40.53M $20.50M
YoY Change -25.48% -57.87%
Other Long-Term Liabilities $89.28M $17.62M
YoY Change 289.46% -22.63%
Total Long-Term Liabilities $129.8M $38.12M
YoY Change 67.91% -46.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $684.6M $624.8M
Total Long-Term Liabilities $129.8M $38.12M
Total Liabilities $860.5M $782.7M
YoY Change 17.35% 16.94%
SHAREHOLDERS EQUITY
Retained Earnings $449.6M $427.3M
YoY Change 20.25% 13.95%
Common Stock $158.7M $156.4M
YoY Change -0.09% -1.9%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $604.3M $577.6M
YoY Change
Total Liabilities & Shareholders Equity $1.465B $1.360B
YoY Change 15.85% 12.83%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $22.27M $23.16M
YoY Change 13.15% 11.96%
Depreciation, Depletion And Amortization $14.51M $12.76M
YoY Change -5.76% 7.22%
Cash From Operating Activities -$21.31M $37.16M
YoY Change -155.14% 73.09%
INVESTING ACTIVITIES
Capital Expenditures $22.12M $19.62M
YoY Change -234.98% 39.74%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $1.792M $1.539M
YoY Change 753.33% -101.4%
Cash From Investing Activities -$20.32M -$18.08M
YoY Change 25.65% -85.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 17.06M -$23.11M
YoY Change -196.86% -160.87%
NET CHANGE
Cash From Operating Activities -21.31M $37.16M
Cash From Investing Activities -20.32M -$18.08M
Cash From Financing Activities 17.06M -$23.11M
Net Change In Cash -24.57M -$4.001M
YoY Change -605.51% -93.69%
FREE CASH FLOW
Cash From Operating Activities -$21.31M $37.16M
Capital Expenditures $22.12M $19.62M
Free Cash Flow -$43.43M $17.54M
YoY Change -178.91% 136.11%

Facts In Submission

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StockIssuedDuringPeriodValueShareBasedCompensation
4000 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1624000 usd
CY2022Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
6791000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1651000 usd
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
536278000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
560200000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
23163000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
20000 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1982000 usd
CY2023Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
7936000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
136000 usd
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
577565000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
23163000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
20688000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
12763000 usd
CY2022Q1 us-gaap Depreciation
Depreciation
11904000 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1226000 usd
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2767000 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1982000 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1624000 usd
CY2023Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
0 usd
CY2022Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-1000 usd
CY2023Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
1224000 usd
CY2022Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
748000 usd
CY2023Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-62000 usd
CY2022Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-886000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-53819000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2902000 usd
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
31868000 usd
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
5745000 usd
CY2023Q1 us-gaap Increase Decrease In Insurance Settlements Receivable
IncreaseDecreaseInInsuranceSettlementsReceivable
601000 usd
CY2022Q1 us-gaap Increase Decrease In Insurance Settlements Receivable
IncreaseDecreaseInInsuranceSettlementsReceivable
-1531000 usd
CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-15921000 usd
CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-281000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-19142000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
15613000 usd
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-6312000 usd
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-4470000 usd
CY2023Q1 us-gaap Increase Decrease In Self Insurance Reserve
IncreaseDecreaseInSelfInsuranceReserve
-2561000 usd
CY2022Q1 us-gaap Increase Decrease In Self Insurance Reserve
IncreaseDecreaseInSelfInsuranceReserve
-352000 usd
CY2023Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-10070000 usd
CY2022Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-25413000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
37158000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
21467000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1539000 usd
CY2022Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1027000 usd
CY2023Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 usd
CY2022Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
110576000 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19615000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14037000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-18076000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-123586000 usd
CY2023Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
9242000 usd
CY2022Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
78331000 usd
CY2023Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
22157000 usd
CY2022Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
33138000 usd
CY2023Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1980000 usd
CY2022Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 usd
CY2023Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
302000 usd
CY2022Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
437000 usd
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
20000 usd
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4000 usd
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7936000 usd
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
6791000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-23113000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
37969000 usd
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30000 usd
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
790000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4001000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-63360000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
51040000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
82092000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
47039000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18732000 usd
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
300615000 usd
CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
0 usd
CY2023Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
0 usd
CY2023Q1 myrg Contract With Customer Liability Excluding Provision For Loss On Contracts Current
ContractWithCustomerLiabilityExcludingProvisionForLossOnContractsCurrent
218106000 usd
CY2022Q4 myrg Contract With Customer Liability Excluding Provision For Loss On Contracts Current
ContractWithCustomerLiabilityExcludingProvisionForLossOnContractsCurrent
223654000 usd
CY2023Q1 us-gaap Provision For Loss On Contracts
ProvisionForLossOnContracts
2648000 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the period reported. Actual results could differ from those estimates.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The most significant estimates are related to estimates of costs to complete contracts, pending change orders and claims, shared savings, insurance reserves, income tax reserves, estimates surrounding stock-based compensation, acquisition-related contingent earn-out consideration liabilities, the recoverability of goodwill and intangibles and allowance for doubtful accounts. The Company estimates a cost accrual every quarter that represents costs incurred but not invoiced for services performed or goods delivered during the period, and estimates revenue from the contract cost portion of these accruals based on current gross margin rates to be consistent with its cost method of revenue recognition.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2023 and December 31, 2022, the Company had recognized revenues of $25.2 million and $19.6 million, respectively, related to large change orders and/or claims that had been included as contract price adjustments on certain contracts, some of which are multi-year projects. These change orders and/or claims are in the process of being negotiated in the normal course of business, and a portion of these recognized revenues had been included in multiple periods.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The cost-to-cost method of accounting requires the Company to make estimates about the expected revenue and gross profit on each of its contracts in process. During the three months ended March 31, 2023, changes in estimates pertaining to certain projects decreased consolidated gross margin by 0.6%, which resulted in decreases in operating income of $5.1 million, net income of $3.6 million and diluted earnings per common share of $0.21.</span></div>During the three months ended March 31, 2022, changes in estimates pertaining to certain projects increased consolidated gross margin by 0.5%, which resulted in increases in operating income of $3.8 million, net income of $2.7 million and diluted earnings per common share of $0.16.
CY2023Q1 us-gaap Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Estimate Of Transaction Price
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInEstimateOfTransactionPrice
25200000 usd
CY2022 us-gaap Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Estimate Of Transaction Price
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInEstimateOfTransactionPrice
19600000 usd
CY2022Q4 us-gaap Contract With Customer Asset Accumulated Allowance For Credit Loss Current
ContractWithCustomerAssetAccumulatedAllowanceForCreditLossCurrent
500000 usd
CY2023Q1 us-gaap Contract With Customer Asset Accumulated Allowance For Credit Loss Current
ContractWithCustomerAssetAccumulatedAllowanceForCreditLossCurrent
500000 usd
CY2023Q1 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
177725000 usd
CY2022Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
156266000 usd
CY2023Q1 us-gaap Construction Contractor Receivable Retainage
ConstructionContractorReceivableRetainage
154791000 usd
CY2022Q4 us-gaap Construction Contractor Receivable Retainage
ConstructionContractorReceivableRetainage
144349000 usd
CY2023Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
332516000 usd
CY2022Q4 us-gaap Provision For Loss On Contracts
ProvisionForLossOnContracts
3401000 usd
CY2023Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
220754000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
227055000 usd
CY2023Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
332516000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
300615000 usd
CY2023Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
220754000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
227055000 usd
CY2023Q1 myrg Net Contract Assets Liabilities
NetContractAssetsLiabilities
111762000 usd
CY2022Q4 myrg Net Contract Assets Liabilities
NetContractAssetsLiabilities
73560000 usd
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
60200000 usd
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
17900000 usd
CY2023Q1 myrg Aggregate Costs Incurred On Uncompleted Contracts And Estimated Earnings
AggregateCostsIncurredOnUncompletedContractsAndEstimatedEarnings
5350169000 usd
CY2022Q4 myrg Aggregate Costs Incurred On Uncompleted Contracts And Estimated Earnings
AggregateCostsIncurredOnUncompletedContractsAndEstimatedEarnings
5390535000 usd
CY2023Q1 myrg Billings To Date
BillingsToDate
5390550000 usd
CY2022Q4 myrg Billings To Date
BillingsToDate
5457923000 usd
CY2023Q1 myrg Net Costs And Estimated Earnings In Excess Of Billings
NetCostsAndEstimatedEarningsInExcessOfBillings
-40381000 usd
CY2022Q4 myrg Net Costs And Estimated Earnings In Excess Of Billings
NetCostsAndEstimatedEarningsInExcessOfBillings
-67388000 usd
CY2023Q1 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
177725000 usd
CY2022Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
156266000 usd
CY2023Q1 myrg Contract With Customer Liability Excluding Provision For Loss On Contracts Current
ContractWithCustomerLiabilityExcludingProvisionForLossOnContractsCurrent
218106000 usd
CY2022Q4 myrg Contract With Customer Liability Excluding Provision For Loss On Contracts Current
ContractWithCustomerLiabilityExcludingProvisionForLossOnContractsCurrent
223654000 usd
CY2023Q1 myrg Net Costs And Estimated Earnings In Excess Of Billings
NetCostsAndEstimatedEarningsInExcessOfBillings
-40381000 usd
CY2022Q4 myrg Net Costs And Estimated Earnings In Excess Of Billings
NetCostsAndEstimatedEarningsInExcessOfBillings
-67388000 usd
CY2023Q1 myrg Lessee Operating And Finance Leases Option To Extend Term
LesseeOperatingAndFinanceLeasesOptionToExtendTerm
P5Y
CY2023Q1 myrg Lessee Operating And Finance Leases Option To Terminate Period
LesseeOperatingAndFinanceLeasesOptionToTerminatePeriod
P1Y
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
29437000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
30544000 usd
CY2023Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
2919000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
3238000 usd
CY2023Q1 myrg Operating And Finance Lease Right Of Use Asset
OperatingAndFinanceLeaseRightOfUseAsset
32356000 usd
CY2022Q4 myrg Operating And Finance Lease Right Of Use Asset
OperatingAndFinanceLeaseRightOfUseAsset
33782000 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
10010000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
9711000 usd
CY2023Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1105000 usd
CY2022Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1127000 usd
CY2023Q1 myrg Lease Obligation Current
LeaseObligationCurrent
11115000 usd
CY2022Q4 myrg Lease Obligation Current
LeaseObligationCurrent
10838000 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
19435000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
20845000 usd
CY2023Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2039000 usd
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2313000 usd
CY2023Q1 myrg Lease Obligation Noncurrent
LeaseObligationNoncurrent
21474000 usd
CY2022Q4 myrg Lease Obligation Noncurrent
LeaseObligationNoncurrent
23158000 usd
CY2023Q1 myrg Lease Obligation Total
LeaseObligationTotal
32589000 usd
CY2022Q4 myrg Lease Obligation Total
LeaseObligationTotal
33996000 usd
CY2023Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M12D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y10M24D
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y6M
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y7M6D
CY2023Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.030
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.030
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.038
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.038
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
3616000 usd
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
3179000 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1616000 usd
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1206000 usd
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
609000 usd
CY2023Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
24000 usd
CY2022Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
28000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
3590000 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
3122000 usd
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
89000 usd
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
91000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
4909000 usd
CY2022Q1 us-gaap Lease Cost
LeaseCost
3850000 usd
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4392000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
889000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
9997000 usd
CY2023Q1 myrg Lease Liability To Be Paid Remainder Of Fiscal Year
LeaseLiabilityToBePaidRemainderOfFiscalYear
10886000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
2044000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
9663000 usd
CY2023Q1 myrg Lease Liability To Be Paid One Year
LeaseLiabilityToBePaidOneYear
11707000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
316000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
7019000 usd
CY2023Q1 myrg Lease Liability To Be Paid Year Two
LeaseLiabilityToBePaidYearTwo
7335000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
0 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
5359000 usd
CY2023Q1 myrg Lease Liability To Be Paid Year Three
LeaseLiabilityToBePaidYearThree
5359000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1626000 usd
CY2023Q1 myrg Lease Liability To Be Paid Year Four
LeaseLiabilityToBePaidYearFour
1626000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
0 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1127000 usd
CY2023Q1 myrg Lease Liability To Be Paid Year Five
LeaseLiabilityToBePaidYearFive
1127000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1787000 usd
CY2023Q1 myrg Lease Liability To Be Paid After Year Five
LeaseLiabilityToBePaidAfterYearFive
1787000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
3249000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
36578000 usd
CY2023Q1 myrg Lease Liability To Be Paid
LeaseLiabilityToBePaid
39827000 usd
CY2023Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
105000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
7133000 usd
CY2023Q1 myrg Lease Liability Undiscounted Excess Amount
LeaseLiabilityUndiscountedExcessAmount
7238000 usd
CY2023Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
3144000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
29445000 usd
CY2023Q1 myrg Lease Liability
LeaseLiability
32589000 usd
CY2023Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1105000 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
10010000 usd
CY2023Q1 myrg Lease Liability Current
LeaseLiabilityCurrent
11115000 usd
CY2023Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2039000 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
19435000 usd
CY2023Q1 myrg Lease Liability Noncurrent
LeaseLiabilityNoncurrent
21474000 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
25658000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
40553000 usd
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
5160000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
5074000 usd
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
20498000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
35479000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
811616000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
636624000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
811616000 usd
CY2022Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
636624000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
2510000000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
2507605000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
511852000 usd
CY2022Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
2326874000 usd
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.144
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.154
CY2023Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
500000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
500000 usd
CY2023Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
CY2023Q1 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
26000000 usd
CY2023Q1 myrg Number Of Equity Stock Based Compensation Plans
NumberOfEquityStockBasedCompensationPlans
2 plan
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
811616000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
636624000 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
27426000 usd
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
24902000 usd
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.21
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
23163000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
20688000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16618000 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16916000 shares
CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
206000 shares
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
217000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16824000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17133000 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.39
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.22
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.38
CY2023Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
76150 shares
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7900000 usd
CY2022Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
75000000 usd
CY2023Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2023Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
75000000 usd
CY2022Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
75000000 usd
CY2023Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
75000000 usd

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