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MYR beats Street 4Q forecasts

ROLLING MEADOWS, Ill. (AP) _ MYR Group Inc. (MYRG) on Thursday reported fourth-quarter earnings of $7.8 million.

The Rolling Meadows, Illinois-based company said it had profit of 48 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.

The electrical construction services provider posted revenue of $343.7 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $290.6 million.

For the year, the company reported profit of $21.4 million, or $1.23 per share. Revenue was reported as $1.14 billion.

MYR shares have fallen almost 2 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $37.09, a climb of 49 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MYRG at https://www.zacks.com/ap/MYRG


Keywords: MYR Group, Earnings Report