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MYR: 1Q Earnings Snapshot

MYR: 1Q Earnings Snapshot

Associated Press

ROLLING MEADOWS, Ill. (AP) _ MYR Group Inc. (MYRG) on Wednesday reported first-quarter net income of $7.4 million.

On a per-share basis, the Rolling Meadows, Illinois-based company said it had profit of 44 cents.

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

The electrical construction services provider posted revenue of $468.1 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $396.7 million.

MYR shares have increased 27% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $35.64, an increase of 17% in the last 12 months.

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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