$MYRG
MYR GROUP INC.

2019 Q1 Form 10-Q Financial Statement

#000114420419022959 Filed on May 01, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $468.1M $345.6M
YoY Change 35.44% 15.15%
Cost Of Revenue $425.2M $309.9M
YoY Change 37.23% 12.93%
Gross Profit $42.88M $35.75M
YoY Change 19.92% 38.9%
Gross Profit Margin 9.16% 10.34%
Selling, General & Admin $32.99M $28.28M
YoY Change 16.64% 9.7%
% of Gross Profit 76.94% 79.1%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.815M $9.275M
YoY Change 5.82% -2.96%
% of Gross Profit 22.89% 25.94%
Operating Expenses $32.99M $28.28M
YoY Change 16.64% 9.7%
Operating Profit $9.626M $8.407M
YoY Change 14.5% 1651.46%
Interest Expense $1.205M $721.0K
YoY Change 67.13% 40.27%
% of Operating Profit 12.52% 8.58%
Other Income/Expense, Net $746.0K $249.0K
YoY Change 199.6% -71.51%
Pretax Income $9.167M $7.935M
YoY Change 15.53% 843.52%
Income Tax $2.547M $2.291M
% Of Pretax Income 27.78% 28.87%
Net Earnings $7.353M $5.644M
YoY Change 30.28% 370.33%
Net Earnings / Revenue 1.57% 1.63%
Basic Earnings Per Share $0.45 $0.35
Diluted Earnings Per Share $0.44 $0.34
COMMON SHARES
Basic Shares Outstanding 16.51M 16.32M
Diluted Shares Outstanding 16.66M 16.52M

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.300M $1.700M
YoY Change -23.53% -75.36%
Cash & Equivalents $1.338M $1.719M
Short-Term Investments
Other Short-Term Assets $8.379M $7.882M
YoY Change 6.31% 8.34%
Inventory $93.20M
Prepaid Expenses
Receivables $298.0M $256.4M
Other Receivables $10.00M $4.300M
Total Short-Term Assets $505.8M $363.5M
YoY Change 39.12% 9.93%
LONG-TERM ASSETS
Property, Plant & Equipment $162.6M $151.6M
YoY Change 7.23% -3.1%
Goodwill $56.59M $46.99M
YoY Change 20.44% 0.44%
Intangibles $32.54M $10.72M
YoY Change 203.56% -5.84%
Long-Term Investments $2.300M $700.0K
YoY Change 228.57%
Other Assets $2.591M $3.617M
YoY Change -28.37% 7.14%
Total Long-Term Assets $289.5M $228.1M
YoY Change 26.93% 4.61%
TOTAL ASSETS
Total Short-Term Assets $505.8M $363.5M
Total Long-Term Assets $289.5M $228.1M
Total Assets $795.2M $591.6M
YoY Change 34.42% 7.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $170.4M $105.0M
YoY Change 62.18% 15.43%
Accrued Expenses $25.30M $12.50M
YoY Change 102.4% -71.85%
Deferred Revenue $28.52M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.742M $1.100M
YoY Change 240.18% 0.0%
Total Short-Term Liabilities $293.6M $182.0M
YoY Change 61.33% -18.29%
LONG-TERM LIABILITIES
Long-Term Debt $106.2M $67.38M
YoY Change 57.62% 70.24%
Other Long-Term Liabilities $1.492M $903.0K
YoY Change 65.23% 72.0%
Total Long-Term Liabilities $107.7M $68.28M
YoY Change 57.72% 70.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $293.6M $182.0M
Total Long-Term Liabilities $107.7M $68.28M
Total Liabilities $463.7M $298.2M
YoY Change 55.53% 4.69%
SHAREHOLDERS EQUITY
Retained Earnings $181.9M $149.3M
YoY Change 21.81% 20.59%
Common Stock $149.1M $144.3M
YoY Change 3.37% 2.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $330.7M $293.4M
YoY Change
Total Liabilities & Shareholders Equity $795.2M $591.6M
YoY Change 34.42% 7.82%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $7.353M $5.644M
YoY Change 30.28% 370.33%
Depreciation, Depletion And Amortization $9.815M $9.275M
YoY Change 5.82% -2.96%
Cash From Operating Activities -$8.205M $22.03M
YoY Change -137.24% 68.71%
INVESTING ACTIVITIES
Capital Expenditures $9.911M $14.50M
YoY Change -31.63% 44.94%
Acquisitions
YoY Change
Other Investing Activities $800.0K $1.100M
YoY Change -27.27% 22.22%
Cash From Investing Activities -$9.079M -$13.42M
YoY Change -32.36% 48.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $778.0K $934.0K
YoY Change -16.7% -57.7%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 11.06M -12.20M
YoY Change -190.67% -42.05%
NET CHANGE
Cash From Operating Activities -8.205M 22.03M
Cash From Investing Activities -9.079M -13.42M
Cash From Financing Activities 11.06M -12.20M
Net Change In Cash -6.220M -3.593M
YoY Change 73.11% -78.94%
FREE CASH FLOW
Cash From Operating Activities -$8.205M $22.03M
Capital Expenditures $9.911M $14.50M
Free Cash Flow -$18.12M $7.536M
YoY Change -340.39% 146.44%

Facts In Submission

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CY2019Q1 us-gaap Use Of Estimates
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<div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;"><div style="font-weight:bold;display:inline;">Use of Estimates</div></div></div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, serif; font-size: 10pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0.5in; margin-right: 0px;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">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.</div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, serif; font-size: 10pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0.5in; margin-right: 0px;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">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, the recoverability of goodwill and intangibles and accounts receivable reserves. 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 this accrual based on current gross margin rates to be consistent with its cost method of revenue recognition.</div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, serif; font-size: 10pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0.5in; margin-right: 0px;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">In the three months ended March 31, 2019 and&#160;2018, the Company recognized revenues of $6.8 million and $16.1 million, respectively, related to significant change orders and/or claims that had been included as contract price adjustments on certain contracts which were in the process of being negotiated in the normal course of business.</div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, serif; font-size: 10pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0.5in; margin-right: 0px;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">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, 2019, changes in estimates pertaining to certain projects decreased consolidated gross margin by 0.8%, which resulted in decreases in operating income of $4.0 million, </div> net income attributable to MYR Group Inc. <div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"> of $1.5 million and diluted earnings per common share </div> attributable to MYR Group Inc.<div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">&#160;of $0.09.</div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, serif; font-size: 10pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0.5in; margin-right: 0px;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">During the three months ended March 31, 2018, changes in estimates pertaining to certain projects decreased consolidated gross margin by <div style="letter-spacing: 0px; top: 0px;;display:inline;">0.1</div>%, which resulted in decreases in operating income of $<div style="letter-spacing: 0px; top: 0px;;display:inline;">0.3</div> million, </div> net income attributable to MYR Group Inc. <div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"> of $<div style="letter-spacing: 0px; top: 0px;;display:inline;">0.2</div> million and diluted earnings per common share&#160;attributable to MYR Group Inc.&#160;</div><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">of $<div style="letter-spacing: 0px; top: 0px;;display:inline;">0.01</div>.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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EffectOfExchangeRateOnCash
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CashAndCashEquivalentsAtCarryingValue
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WeightedAverageNumberDilutedSharesOutstandingAdjustment
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EarningsPerShareBasic
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LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
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FinanceLeaseLiabilityPaymentsDueYearTwo
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FinanceLeaseLiabilityPaymentsDueYearThree
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FinanceLeaseLiabilityPaymentsDueYearFour
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LesseeOperatingLeaseLiabilityPaymentsDueYearFour
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LesseeOperatingLeaseLiabilityPaymentsDueYearFive
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CY2019Q1 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0
CY2019Q1 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
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CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
2481000
CY2019Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
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CY2019Q1 us-gaap Finance Lease Liability Noncurrent
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1275000
CY2019Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
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CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2019Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
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CY2018Q4 us-gaap Capital Leases Balance Sheet Assets By Major Class Net
CapitalLeasesBalanceSheetAssetsByMajorClassNet
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CY2018Q4 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
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CY2018Q4 us-gaap Capital Lease Obligations
CapitalLeaseObligations
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-77000
CY2018Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-77000
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2019Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
3742000
CY2018Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
3681000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
330727000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
322984000
CY2019Q1 us-gaap Long Term Debt
LongTermDebt
109946000
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
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CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
7353000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
5644000
CY2018Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0
CY2019Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-733000
CY2019Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
7276000
CY2018Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5627000
CY2019Q1 us-gaap Contract Receivable Retainage
ContractReceivableRetainage
58219000
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ContractReceivableRetainage
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CY2019Q1 us-gaap Provision For Loss On Contracts
ProvisionForLossOnContracts
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ProvisionForLossOnContracts
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NetContractAssetsLiabilities
159550000
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NetContractAssetsLiabilities
101747000
CY2019Q1 myrg Aggregate Costs Incurred On Uncompleted Contracts And Estimated Earnings
AggregateCostsIncurredOnUncompletedContractsAndEstimatedEarnings
2448984000
CY2018Q4 myrg Aggregate Costs Incurred On Uncompleted Contracts And Estimated Earnings
AggregateCostsIncurredOnUncompletedContractsAndEstimatedEarnings
2718713000
CY2019Q1 myrg Billings To Date
BillingsToDate
2346199000
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BillingsToDate
2664611000
CY2019Q1 myrg Net Costs And Estimated Earnings In Excess Of Billings
NetCostsAndEstimatedEarningsInExcessOfBillings
102785000
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NetCostsAndEstimatedEarningsInExcessOfBillings
54102000
CY2019Q1 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
129850000
CY2018Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
111153000
CY2019Q1 myrg Contract With Customer Liability Excluding Provision For Loss On Contracts Current
ContractWithCustomerLiabilityExcludingProvisionForLossOnContractsCurrent
27065000
CY2018Q4 myrg Contract With Customer Liability Excluding Provision For Loss On Contracts Current
ContractWithCustomerLiabilityExcludingProvisionForLossOnContractsCurrent
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OperatingLeaseRightOfUseAsset
16266000
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
287039000
CY2018Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
581000
CY2018Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
420000
CY2018Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
934000
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
293428000
CY2019Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2018Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.278
CY2018Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.289
CY2019Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
400000
CY2019Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
49400000
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CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
695000
CY2019Q1 us-gaap Partners Capital Account Contributions
PartnersCapitalAccountContributions
0
CY2019Q1 myrg Number Of Equity Stock Based Compensation Plans
NumberOfEquityStockBasedCompensationPlans
2
CY2019Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2019Q1 us-gaap Profit Loss
ProfitLoss
6620000
CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
282000
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
951000
CY2019Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
778000
CY2019Q1 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
12000
CY2019Q1 us-gaap Bank Overdrafts
BankOverdrafts
8400000
CY2018Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
25400000
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
400000
CY2019Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
273000
CY2019Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
20000
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1594000
CY2019Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
15000
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
65000
CY2019Q1 us-gaap Lease Cost
LeaseCost
1967000
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
16001000
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1679000
CY2019Q1 myrg Lease Liability Payments Remainder Of Fiscal Year
LeaseLiabilityPaymentsRemainderOfFiscalYear
5582000
CY2019Q1 myrg Lease Liability Payments Due Year Five
LeaseLiabilityPaymentsDueYearFive
1533000
CY2019Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P24M
CY2019Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P24M
CY2018Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P24M
CY2019Q1 myrg Lease Liability Payments Due Year Two
LeaseLiabilityPaymentsDueYearTwo
6044000
CY2018Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
1514000
CY2019Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1455000
CY2018Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0
CY2019Q1 myrg Lessee Operating And Finance Leases Option To Terminate Period
LesseeOperatingAndFinanceLeasesOptionToTerminatePeriod
P1Y
CY2019Q1 myrg Lessee Operating And Finance Leases Option To Extend Term
LesseeOperatingAndFinanceLeasesOptionToExtendTerm
P5Y
CY2019Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4401000
CY2018Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
0
CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
11600000
CY2018Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0
CY2019Q1 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
57900000
CY2019Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
2327000
CY2019Q1 myrg Operating And Finance Lease Right Of Use Asset
OperatingAndFinanceLeaseRightOfUseAsset
18593000
CY2019Q1 myrg Lease Obligation Current
LeaseObligationCurrent
5528000
CY2019Q1 myrg Lease Obligation Noncurrent
LeaseObligationNoncurrent
12875000
CY2019Q1 myrg Lease Obligation Total
LeaseObligationTotal
18403000
CY2019Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
82000
CY2019Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4139000
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
17200000
CY2018Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1119000
CY2019Q1 myrg Lease Liability Payments Due Year Three
LeaseLiabilityPaymentsDueYearThree
4162000
CY2019Q1 myrg Lease Liability Payments Due Year Four
LeaseLiabilityPaymentsDueYearFour
2822000
CY2019Q1 myrg Lease Liability Payments Due After Year Five
LeaseLiabilityPaymentsDueAfterYearFive
2481000
CY2019Q1 myrg Lease Liability Payments Due
LeaseLiabilityPaymentsDue
22624000
CY2019Q1 myrg Lease Liability Undiscounted Excess Amount
LeaseLiabilityUndiscountedExcessAmount
-4221000
CY2019Q1 myrg Lease Liability
LeaseLiability
18403000
CY2019Q1 myrg Lease Liability Current
LeaseLiabilityCurrent
5528000
CY2019Q1 myrg Lease Liability Noncurrent
LeaseLiabilityNoncurrent
12875000
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
1056123000
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
164056000
CY2018Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
1062725000
CY2018Q4 us-gaap Bank Overdrafts
BankOverdrafts
0
CY2019Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y1M20D
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M21D
CY2019Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.025
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.038
CY2019Q1 dei Document Type
DocumentType
10-Q
CY2019Q1 dei Amendment Flag
AmendmentFlag
false
CY2019Q1 dei Document Period End Date
DocumentPeriodEndDate
2019-03-31
CY2019Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2019
CY2019Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2019Q1 dei Entity Registrant Name
EntityRegistrantName
MYR GROUP INC.
CY2019Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000700923
CY2019Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2019Q1 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2019Q1 dei Trading Symbol
TradingSymbol
MYRG
CY2019Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
16610032
CY2019Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2019Q1 dei Entity Small Business
EntitySmallBusiness
false

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