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MYR Group (MYRG) to Report Q2 Earnings: What's in Store?

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MYR Group (MYRG - Free Report) is scheduled to release second-quarter 2021 results on Jul 28, after the closing bell. This utility delivered an earnings surprise of 85.7% in the last reported quarter.

Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.

Factors to Note

MYR Group’s second-quarter performance will likely reflect the benefits from higher contribution from commercial and industrial segments as well as effective cost management.

The company’s earnings are expected to have benefited from the current market stability. Its expertise in tackling electrical projects with complexities and providing customized solutions to customers is likely to have helped it gain more orders, further boosting backlog.

Expectations

The Zacks Consensus Estimate for second-quarter earnings and revenues is pegged at $1.03 per share and $563.05 million, respectively. The projected revenues and earnings indicate an improvement of 28.7% and 9.8%, respectively, from the year-ago reported figures.

What Our Quantitative Model Predicts

Our proven model predicts an earnings beat for MYR Group this time around. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates.

MYR Group, Inc. Price and EPS Surprise

MYR Group, Inc. Price and EPS Surprise

MYR Group, Inc. price-eps-surprise | MYR Group, Inc. Quote

Earnings ESP: The company’s Earnings ESP is +4.39%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Currently, MYR Group sports a Zacks Rank #1.

You can see the complete list of today’s Zacks #1 Rank stocks here.

Other Stocks to Consider

Investors can also consider the following players from the same sector that too have the right combination of elements to beat on earnings this reporting cycle.

Xcel Energy (XEL - Free Report) is set to release second-quarter 2021 results on Jul 29. It has an Earnings ESP of +0.45% and a Zacks Rank #3.

Portland General Electric Company (POR - Free Report) is set to release second-quarter 2021 results on Jul 30. It has an Earnings ESP of +7.04% and a Zacks Rank #3

Duke Energy (DUK - Free Report) is set to release second-quarter 2021 results on Aug 5. It has an Earnings ESP of +0.15% and a Zacks Rank #2.