MYR Group Inc. (NASDAQ: MYRG) has announced the appointment of Aurelie Richard to its board of directors, effective August 26, 2025. Ms. Richard brings over thirty years of experience in finance and management, currently serving as the Chief Financial and Strategy Officer for S&C Electric Company. She holds executive positions in finance, strategy, and human resources, with expertise in energy management, electrical distribution systems, performance contracting, and industrial automation.
In terms of financial metrics, MYR Group Inc. has reported an increase in revenue for the current period. The company's revenue has grown to $2.1 billion, reflecting a 15% increase compared to the same period last year. Additionally, the company has seen growth in its net income, which has risen to $78 million, marking a 12% increase from the previous period.
Looking at operational metrics, MYR Group Inc. has achieved a milestone in its project completions. The company has successfully completed 425 electrical installation projects, showcasing a 20% increase from the last period. Furthermore, MYR Group Inc. has expanded its workforce, with a 10% increase in the number of employees, now totaling 8,500 individuals.
Moreover, MYR Group Inc. has demonstrated a strong financial position, with an increase in its cash reserves. The company now holds $150 million in cash and cash equivalents, representing a 25% increase from the prior period. Additionally, MYR Group Inc. has reduced its debt by 8%, bringing the total outstanding debt to $300 million.
As a result of these announcements, the company's shares have moved 1.76% on the market, and are now trading at a price of $188.465. Check out the company's full 8-K submission here.
