MYR GROUP INC
For the period ended Sep 30, 2024. Filed Oct 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 30, 2024
MYRG$272.81-2.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets as of (unaudited) and
CONSOLIDATED BALANCE SHEETS
| (in thousands, except share and per share data) | September 30,2024 | December 31,2023 |
|---|---|---|
| (unaudited) | ||
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $7,569 | $24,899 |
| Accounts receivable, net of allowances of $977 and $1,987, respectively | 571,342 | 521,893 |
| Contract assets, net of allowances of $582 and $610, respectively | 411,843 | 420,616 |
| Current portion of receivable for insurance claims in excess of deductibles | 9,056 | 8,267 |
| Refundable income taxes | 6,280 | 4,034 |
| Prepaid expenses and other current assets | 25,532 | 46,535 |
| Total current assets | 1,031,622 | 1,026,244 |
| Property and equipment, net of accumulated depreciation of $388,180 and $380,465, respectively | 279,634 | 268,978 |
| Operating lease right-of-use assets | 40,665 | 35,012 |
| Goodwill | 115,970 | 116,953 |
| Intangible assets, net of accumulated amortization of $34,036 and $30,534, respectively | 79,077 | 83,516 |
| Receivable for insurance claims in excess of deductibles | 34,925 | 33,739 |
| Investment in joint ventures | 5,835 | 8,707 |
| Other assets | 5,331 | 5,597 |
| Total assets | $1,593,059 | $1,578,746 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Current portion of long-term debt | $4,364 | $7,053 |
| Current portion of operating lease obligations | 11,136 | 9,237 |
| Current portion of finance lease obligations | 1,168 | 2,039 |
| Accounts payable | 329,971 | 359,363 |
| Contract liabilities | 262,557 | 240,411 |
| Current portion of accrued self-insurance | 25,394 | 28,269 |
| Accrued income taxes | — | 237 |
| Other current liabilities | 127,846 | 100,593 |
| Total current liabilities | 762,436 | 747,202 |
| Deferred income tax liabilities | 47,722 | 48,230 |
| Long-term debt | 88,822 | 29,188 |
| Accrued self-insurance | 54,262 | 51,796 |
| Operating lease obligations, net of current maturities | 29,529 | 25,775 |
| Finance lease obligations, net of current maturities | 2,312 | 314 |
| Other liabilities | 19,467 | 25,039 |
| Total liabilities | 1,004,550 | 927,544 |
| Commitments and contingencies | ||
| Shareholders’ equity: | ||
| Preferred stock—$0.01 par value per share; 4,000,000 authorized shares; none issued and outstanding at September 30, 2024 and December 31, 2023 | — | — |
| Common stock—$0.01 par value per share; 100,000,000 authorized shares; 16,121,901 and 16,684,492 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively | 161 | 167 |
| Additional paid-in capital | 156,799 | 162,386 |
| Accumulated other comprehensive loss | (6,216) | (3,880) |
| Retained earnings | 437,765 | 492,529 |
| Total shareholders’ equity | 588,509 | 651,202 |
| Total liabilities and shareholders’ equity | $1,593,059 | $1,578,746 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.