$MYRG
MYR GROUP INC.

2017 Q4 Form 10-Q Financial Statement

#000114420417055486 Filed on November 01, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q3
Revenue $373.5M $373.5M $283.3M
YoY Change 8.68% 31.86% 4.96%
Cost Of Revenue $336.6M $338.6M $249.2M
YoY Change 11.57% 35.9% 3.3%
Gross Profit $36.89M $34.85M $34.06M
YoY Change -12.04% 2.32% 19.02%
Gross Profit Margin 9.88% 9.33% 12.03%
Selling, General & Admin $24.00M $23.81M $23.20M
YoY Change -10.45% 2.63% 22.29%
% of Gross Profit 65.05% 68.33% 68.12%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.100M $10.00M $9.700M
YoY Change -6.19% 3.09% 0.0%
% of Gross Profit 24.67% 28.69% 28.48%
Operating Expenses $23.90M $23.81M $23.20M
YoY Change -11.81% 2.63% 22.29%
Operating Profit $12.99M $11.42M $11.14M
YoY Change -12.46% 2.52% 12.3%
Interest Expense -$800.0K $685.0K $408.0K
YoY Change 60.0% 67.89% 126.67%
% of Operating Profit -6.16% 6.0% 3.66%
Other Income/Expense, Net -$2.500M -$1.413M -$417.0K
YoY Change -308.33% 238.85% -195.21%
Pretax Income $10.70M $9.322M $10.31M
YoY Change -32.7% -9.62% 1.27%
Income Tax $4.900M $4.177M $4.168M
% Of Pretax Income 45.79% 44.81% 40.41%
Net Earnings $13.58M $5.145M $6.146M
YoY Change 74.13% -16.29% -0.47%
Net Earnings / Revenue 3.64% 1.38% 2.17%
Basic Earnings Per Share $0.83 $0.32 $0.39
Diluted Earnings Per Share $0.82 $0.31 $0.38
COMMON SHARES
Basic Shares Outstanding 16.46M shares 16.31M shares 15.81M shares
Diluted Shares Outstanding 16.47M shares 16.18M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.300M $1.700M $600.0K
YoY Change -77.73% 183.33% -98.03%
Cash & Equivalents $5.343M $1.682M $584.0K
Short-Term Investments
Other Short-Term Assets $8.513M $5.300M $5.383M
YoY Change 3.79% -1.54% -7.98%
Inventory $78.30M $107.8M $80.30M
Prepaid Expenses
Receivables $240.3M $274.2M $185.5M
Other Receivables $4.600M $4.500M $14.20M
Total Short-Term Assets $379.7M $393.4M $286.0M
YoY Change 10.74% 37.55% -14.67%
LONG-TERM ASSETS
Property, Plant & Equipment $148.1M $150.2M $153.0M
YoY Change -4.39% -1.83% -7.21%
Goodwill $46.99M $46.78M
YoY Change 0.46% -3.88%
Intangibles $10.85M $11.02M
YoY Change -6.17% 14.59%
Long-Term Investments $200.0K
YoY Change
Other Assets $3.659M $4.400M $2.850M
YoY Change 37.25% 54.39% 106.52%
Total Long-Term Assets $224.1M $227.2M $213.6M
YoY Change -2.84% 6.36% -4.87%
TOTAL ASSETS
Total Short-Term Assets $379.7M $393.4M $286.0M
Total Long-Term Assets $224.1M $227.2M $213.6M
Total Assets $603.8M $620.6M $499.6M
YoY Change 5.28% 24.22% -10.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $110.4M $119.2M $85.87M
YoY Change 10.45% 38.82% 4.08%
Accrued Expenses $13.10M $12.10M $37.30M
YoY Change 24.76% -67.56% 3.9%
Deferred Revenue $30.22M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $1.100M $1.100M
YoY Change -100.0% 0.0%
Total Short-Term Liabilities $188.6M $213.7M $198.3M
YoY Change -3.9% 7.77% 2.91%
LONG-TERM LIABILITIES
Long-Term Debt $78.96M $82.50M $37.50M
YoY Change 33.67% 120.0%
Other Long-Term Liabilities $919.0K $33.60M $800.0K
YoY Change 70.5% 4100.0% -27.27%
Total Long-Term Liabilities $79.88M $116.1M $38.30M
YoY Change 34.0% 203.13% 3381.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $188.6M $213.7M $198.3M
Total Long-Term Liabilities $79.88M $116.1M $38.30M
Total Liabilities $316.7M $348.0M $250.9M
YoY Change 2.07% 38.7% 14.83%
SHAREHOLDERS EQUITY
Retained Earnings $143.2M $115.5M
YoY Change 16.13%
Common Stock $144.1M $133.1M
YoY Change 2.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $287.0M $272.6M $248.7M
YoY Change
Total Liabilities & Shareholders Equity $603.8M $620.6M $499.6M
YoY Change 5.28% 24.22% -10.74%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $13.58M $5.145M $6.146M
YoY Change 74.13% -16.29% -0.47%
Depreciation, Depletion And Amortization $9.100M $10.00M $9.700M
YoY Change -6.19% 3.09% 0.0%
Cash From Operating Activities $12.60M -$41.00M -$6.000M
YoY Change -10.0% 583.33% -452.94%
INVESTING ACTIVITIES
Capital Expenditures -$5.900M -$4.300M -$5.700M
YoY Change -21.33% -24.56% -56.49%
Acquisitions
YoY Change
Other Investing Activities $1.500M $300.0K $700.0K
YoY Change -113.27% -57.14% 16.67%
Cash From Investing Activities -$4.400M -$4.000M -$5.000M
YoY Change -76.47% -20.0% -59.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.500M 37.20M 8.200M
YoY Change -115.57% 353.66% -243.86%
NET CHANGE
Cash From Operating Activities 12.60M -41.00M -6.000M
Cash From Investing Activities -4.400M -4.000M -5.000M
Cash From Financing Activities -4.500M 37.20M 8.200M
Net Change In Cash 3.700M -7.800M -2.800M
YoY Change -84.71% 178.57% -82.93%
FREE CASH FLOW
Cash From Operating Activities $12.60M -$41.00M -$6.000M
Capital Expenditures -$5.900M -$4.300M -$5.700M
Free Cash Flow $18.50M -$36.70M -$300.0K
YoY Change -13.95% 12133.33% -102.03%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
20427000 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
33407000 USD
CY2017Q3 us-gaap Insurance Settlements Receivable Current
InsuranceSettlementsReceivableCurrent
4003000 USD
CY2016Q4 us-gaap Insurance Settlements Receivable Current
InsuranceSettlementsReceivableCurrent
3785000 USD
CY2016Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2017Q3 us-gaap Insurance Settlements Receivable Noncurrent
InsuranceSettlementsReceivableNoncurrent
14766000 USD
CY2016Q4 us-gaap Insurance Settlements Receivable Noncurrent
InsuranceSettlementsReceivableNoncurrent
14692000 USD
CY2017Q3 us-gaap Self Insurance Reserve Noncurrent
SelfInsuranceReserveNoncurrent
33146000 USD
CY2016Q4 us-gaap Self Insurance Reserve Noncurrent
SelfInsuranceReserveNoncurrent
32092000 USD
CY2017Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5351000 USD
CY2017Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
206000 USD
CY2016Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
19000 USD
us-gaap Net Income Loss
NetIncomeLoss
13633000 USD
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.78
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.47
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.77
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17489000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17817000 shares
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
798827000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
1029816000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
7791000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
13568000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
216000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
216000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-65000 USD
us-gaap Net Income Loss
NetIncomeLoss
7575000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-21790000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
40497000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2802000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2544000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-22107000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-15404000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
24909000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17948000 USD
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.46
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16263000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16476000 shares
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-65000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2080000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
812000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
442000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1147000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3058000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
21422000 USD
us-gaap Effect Of Exchange Rate On Cash
EffectOfExchangeRateOnCash
55000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-22164000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-39213000 USD
myrg Acquisition Of Property Under Capital Lees Arrangements
AcquisitionOfPropertyUnderCapitalLeesArrangements
0 USD
myrg Acquisition Of Property Under Capital Lees Arrangements
AcquisitionOfPropertyUnderCapitalLeesArrangements
5580000 USD
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
0 USD
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
5580000 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
39797000 USD
CY2016Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
584000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
3718000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
2077000 USD
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2017-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Registrant Name
EntityRegistrantName
MYR GROUP INC.
dei Entity Central Index Key
EntityCentralIndexKey
0000700923
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Trading Symbol
TradingSymbol
MYRG
CY2017Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
16462023 shares
CY2017Q3 myrg Aggregate Costs Incurred On Uncompleted Contracts And Estimated Earnings
AggregateCostsIncurredOnUncompletedContractsAndEstimatedEarnings
1886286000 USD
CY2016Q4 myrg Aggregate Costs Incurred On Uncompleted Contracts And Estimated Earnings
AggregateCostsIncurredOnUncompletedContractsAndEstimatedEarnings
2194695000 USD
CY2017Q3 myrg Billings To Date
BillingsToDate
1822319000 USD
CY2016Q4 myrg Billings To Date
BillingsToDate
2167066000 USD
CY2017Q3 us-gaap Line Of Credit
LineOfCredit
79500000 USD
CY2016Q4 us-gaap Line Of Credit
LineOfCredit
59100000 USD
CY2016Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
23700000 USD
CY2017Q3 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
800000 USD
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2016Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.404 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.391 pure
CY2017Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.448 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.456 pure
CY2017Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
300000 USD
CY2017Q3 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
10200000 USD
CY2017Q3 myrg Outstanding Performance Bonds
OutstandingPerformanceBonds
410900000 USD
CY2017Q3 myrg Estimated Cost To Complete Bonded Projects
EstimatedCostToCompleteBondedProjects
21800000 USD
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
922000 USD
CY2017Q3 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
4344000 USD
CY2017Q3 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments
238000 USD
CY2017Q3 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments
4106000 USD
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
12757000 USD
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
1815000 USD
CY2017Q3 us-gaap Capital Leases Future Minimum Payments Remainder Of Fiscal Year
CapitalLeasesFutureMinimumPaymentsRemainderOfFiscalYear
305000 USD
CY2017Q3 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
1220000 USD
CY2017Q3 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
1220000 USD
CY2017Q3 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
1220000 USD
CY2017Q3 us-gaap Capital Leases Future Minimum Payments Due In Five Years
CapitalLeasesFutureMinimumPaymentsDueInFiveYears
379000 USD
CY2017Q3 us-gaap Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
0 USD
CY2017Q3 us-gaap Capital Lease Obligations
CapitalLeaseObligations
4100000 USD
CY2016Q4 us-gaap Capital Lease Obligations
CapitalLeaseObligations
4900000 USD
CY2017Q3 us-gaap Capital Leases Balance Sheet Assets By Major Class Net
CapitalLeasesBalanceSheetAssetsByMajorClassNet
4100000 USD
CY2016Q4 us-gaap Capital Leases Balance Sheet Assets By Major Class Net
CapitalLeasesBalanceSheetAssetsByMajorClassNet
5000000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
73297 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
15.65
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
213000 shares
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
160000 shares
CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
372000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
328000 shares
CY2016Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
432000 USD
CY2016Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
209466000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4684000 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
4000000 shares
CY2017Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
4000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2017Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2016Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2017Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2016Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
16333139 shares
CY2016Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
16333139 shares
us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
100000 USD
CY2016Q4 myrg Net Costs And Estimated Earnings In Excess Of Billings
NetCostsAndEstimatedEarningsInExcessOfBillings
27629000 USD
CY2017Q3 myrg Net Costs And Estimated Earnings In Excess Of Billings
NetCostsAndEstimatedEarningsInExcessOfBillings
63967000 USD
myrg Debt Instrument Covenant Leveraged Debt Ratio Restriction
DebtInstrumentCovenantLeveragedDebtRatioRestriction
2.25 pure
CY2017Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
20000000 USD
CY2017Q3 us-gaap Stock Repurchase Program Expiration Date
StockRepurchaseProgramExpirationDate
2017-08-15
CY2017Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
32.90
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
300000 USD
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
92987 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Use of Estimates</i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> 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&#160;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.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The most significant estimates are related to estimates of costs to complete on contracts, pending change orders and claims, shared savings, insurance reserves, income tax reserves, estimates surrounding stock-based compensation, the recoverability of goodwill and intangibles and accounts receivable reserves.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> In the nine months ended September 30, 2017, the Company recognized revenues of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">6.5</font> million related to significant change orders and/or claims that had been included as contract price adjustments on certain contracts which are in the process of being negotiated in the normal course of business.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The percentage of completion method of accounting requires the Company to make estimates about the expected revenue and gross profit on each of its contracts in process. The estimates are reviewed and revised quarterly, as needed. During the three months ended September 30, 2017, changes in estimates pertaining to certain projects decreased consolidated gross margin by 0.9%, which resulted in decreases in operating income of $3.2 million, net income of $1.9 million and diluted earnings per common share of $0.12. During the nine months ended September 30, 2017, changes in estimates pertaining to certain projects decreased consolidated gross margin by 0.7%, which resulted in decreases in&#160;operating income of $7.7 million, net income of $4.6 million and diluted earnings per common share of $0.28.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> During the three months ended September 30, 2016, changes in estimates pertaining to certain projects increased consolidated gross margin by <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 0.7</font>%, which resulted in increases in operating income of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">2.0</font> million, net income of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">1.2</font> million and diluted earnings per common share of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">0.07</font>. During the nine months ended September 30, 2016, changes in estimates pertaining to certain projects decreased consolidated gross margin by 0.5%, which resulted in decreases in operating income of $3.6 million, net income of $2.2 million and diluted earnings per common share of $0.12.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2017Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
606000 USD
CY2017Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
228185000 USD
CY2017Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5262000 USD
CY2017Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
16458523 shares
CY2017Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
16458523 shares
us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
36980000 USD
us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
28774000 USD
us-gaap Increase Decrease In Billing In Excess Of Cost Of Earnings
IncreaseDecreaseInBillingInExcessOfCostOfEarnings
1363000 USD
us-gaap Increase Decrease In Billing In Excess Of Cost Of Earnings
IncreaseDecreaseInBillingInExcessOfCostOfEarnings
5454000 USD
CY2017Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
20900000 USD
CY2017Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
20000000 USD
us-gaap Stock Repurchase Program Expiration Date
StockRepurchaseProgramExpirationDate
2017-08-15
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
200000 USD
CY2017Q3 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
1500000 USD

Files In Submission

Name View Source Status
0001144204-17-055486-index-headers.html Edgar Link pending
0001144204-17-055486-index.html Edgar Link pending
0001144204-17-055486.txt Edgar Link pending
0001144204-17-055486-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
myrg-20170930.xml Edgar Link completed
myrg-20170930.xsd Edgar Link pending
myrg-20170930_cal.xml Edgar Link unprocessable
myrg-20170930_def.xml Edgar Link unprocessable
myrg-20170930_lab.xml Edgar Link unprocessable
myrg-20170930_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
v476423_10q.htm Edgar Link pending
v476423_ex31-1.htm Edgar Link pending
v476423_ex31-2.htm Edgar Link pending
v476423_ex32-1.htm Edgar Link pending
v476423_ex32-2.htm Edgar Link pending