Myr Group, Inc. · NASDAQ:MYRG
Myr — Investor Presentation (October 2021)
21 slides from Myr's investor presentation, Oct 28, 2021
Slide 1: Q3 Investor Presentation, October 2021
Q 3 I N V E S T O R P R E S E N T A T IO N 1 INVESTOR PRESENTATION Q 3 | O C T O B E R 2 0 2 1 | N A S D A Q : M Y R G
Slide 2: Safe Harbor Statement
Q 3 I N V E S T O R P R E S E N T A T IO N 2 SAFE HARBOR STATEMENT F O R W A R D - L O O K I N G S T A T E M E N T S Various statements in this announcement, including those that express a belief, expectation, or intention, as well as those that are not statements of historical fact, are forward-loo
Slide 3: A Market Leader Delivering Electrical Construction Services for More Than a Century
Q 3 I N V E S T O R P R E S E N T A T IO N 3 A MARKET LEADER D E L I V E R I N G E L E C T R I C A L C O N S T R U C T I O N S E R V I C E S F O R M O R E T H A N A C E N T U R Y 63 OFFICE LOCATIONS IN U.S. AND WESTERN CANADA MYR Group Inc. subsidiaries deliver some of the largest and most notable e
Slide 4: Record revenue growth and top specialty electrical contractor ranking
Q 3 I N V E S T O R P R E S E N T A T IO N 4 Achieved record revenue in 2020, up 8.5% from 2019 $2.46B LTM 09/30/2021 $1.14B 2016 $1.40B 2017 $1.53B 2018 $2.25B 2020 RANKED AMONG TOP 5 U.S. SPECIALTY ELECTRICAL CONTRACTORS 26 YEARS IN A ROW $2.07B 2019 CAGR 17.5%
Slide 5: Enhances Our Strong Backlog
Q 3 I N V E S T O R P R E S E N T A T IO N 5 E N H A N C E S O U R S T R O N G B A C K L O G We take a people first focus to encourage collaboration, safe practices, and long- term employment. We invest in our employees by providing trainings, leadership opportunities, cutting-edge tools and resourc
Slide 6: Outlook
Q 3 I N V E S T O R P R E S E N T A T IO N 6 OUTLOOK • Enacted measures to maintain safe operations during the COVID-19 pandemic, adjusting operations to continue performing work as an essential business • T&D work activity primarily consists of small to medium-sized projects, with some larger trans
Slide 7: Transmission & Distribution Business Segment Update
Q 3 I N V E S T O R P R E S E N T A T IO N 7 TRANSMISSION & DISTRIBUTION T & D B U S I N E S S S E G M E N T U P D A T E • LTM 09/30/21 T&D record revenue of $1,267 Million • Recent years growth is 100% organic and primarily due to an increase in revenue on small to medium-sized transmission and dis
Slide 8: T&D Market Drivers
Q 3 I N V E S T O R P R E S E N T A T IO N 8 T&D MARKET DRIVERS S T R O N G L O N G - T E R M O U T L O O K • There may be delays on some spending due to COVID-19 which could impact previously reported projections, however the impacts have been minimal and market drivers remain favorable for the lon
Slide 9: Commercial & Industrial Business Segment Update
Q 3 I N V E S T O R P R E S E N T A T IO N 9 COMMERCIAL & INDUSTRIAL C & I B U S I N E S S S E G M E N T U P D A T E • LTM 09/30/21 C&I revenue of $1,193 Million • Growth primarily due to increases in volume across all project sizes and incremental revenues from the acquisitions of CSI and the Huen
Slide 10: C&I Outlook
Q 3 I N V E S T O R P R E S E N T A T IO N 10 C&I OUTLOOK A C T I V E M A R K E T • The primary markets we serve may be somewhat less vulnerable to economic slowing. • The proposed $2 trillion infrastructure plan (The American Jobs Plan) proposes to invest billions in highways, airports, transit sys
Slide 11: Market Opportunities
Q 3 I N V E S T O R P R E S E N T A T IO N 11 MARKET OPPORTUNITIES G R O W I N G R E N E W A B L E G E N E R A T I O N M I X Utility-scale solar set another record for Q2 installations at 4.2GWdc. A total of 9.3 GWdc of new utility-scale solar power purchase agreements were signed in Q2 2021, bringi
Slide 12: Positioned for Growth
Q 3 I N V E S T O R P R E S E N T A T IO N 12 POSITIONED FOR GROWTH S T R O N G M A R K E T C O U P L E D W I T H O U R C O M P E T I T I V E E D G E U.S./Canada Long-term growth both organically and via acquisition T&D Transmission market outlook strong next 5+ years (higher ratio of small-medium/l
Slide 13: Cornerstones of Our Sustainability Practices
Q 3 I N V E S T O R P R E S E N T A T IO N 13 CORNERSTONES OF OUR SUSTAINABILITY PRACTICES Reducing our environmental impact, protecting the safety and wellbeing of our people, and supporting the communities where we live and operate remain a top priority as we continue to provide critical electrica
Slide 14: Delivering Strong Returns
Q 3 I N V E S T O R P R E S E N T A T IO N 14 DELIVERING STRONG RETURNS D I V I D E N D A D J U S T E D S T O C K R E T U R N MYRG - CAGR 22.38% EME - CAGR 11.33% PWR - CAGR 28.63% MTZ - CAGR 20.03% DY - CAGR (2.89%) -100.0% -50.0% 0.0% 50.0% 100.0% 150.0% 200.0% 250.0% 300.0% Dividend Adjusted Stoc
Slide 15: Balance Sheet Strength
Q 3 I N V E S T O R P R E S E N T A T IO N 15 BALANCE SHEET STRENGTH W E L L - P O S I T I O N E D T O S U P P O R T A D D I T I O N A L G R O W T H $30.8 $50.7 $57.8 $44.4 $49.6 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% $0 $20 $40 $60 $80 2017 2018 2019 2020 Q3 LTM 2021 M ill io n s CAPEX Investment CAPEX Spe
Slide 16: Financial Performance Demonstrates Strong, Long-Term Execution
Q 3 I N V E S T O R P R E S E N T A T IO N 16 FINANCIAL PERFORMANCE D E M O N S T R A T E S S T R O N G , L O N G - T E R M E X E C U T I O N $1,403 $1,531 $2,071 $2,247 $2,460 $- $500 $1,000 $1,500 $2,000 $2,500 $3,000 2017 2018 2019 2020 Q3 LTM 2021 M ill io n s Revenue by Work Type Trans. Dist. C
Slide 17: Experienced Leaders
Q 3 I N V E S T O R P R E S E N T A T IO N 17 EXPERIENCED LEADERS E X E C U T I V E S & B O A R D O F D I R E C T O R S MYR Group Inc. has a strong team of experienced leaders that make up our executive team and Board of Directors. We believe diversity of our leadership is a critical component of cr
Slide 18: Creating Shareholder Value
Q 3 I N V E S T O R P R E S E N T A T IO N 18 CREATING SHAREHOLDER VALUE STRATEGIC ACQUISITIONS Evaluate opportunities to expand and hone business expertise • Identify and evaluate strategic opportunities that achieve long-term growth objectives and leverage our core capabilities • Focus on acquisit
Slide 19: Representative Customer Sample
Q 3 I N V E S T O R P R E S E N T A T IO N 19 MYR Group subsidiaries maintain strong, long-standing relationships with a diverse customer base throughout both our T&D and C&I business segments. REPRESENTATIVE CUSTOMER SAMPLE
Slide 20: EBITDA Reconciliation
Q 3 I N V E S T O R P R E S E N T A T IO N 20 EBITDA RECONCILIATION D E M O N S T R A T E S S T R O N G , L O N G - T E R M E X E C U T I O N Note: LTM diluted weighted average shares outstanding were determined by adding the average shares reported for the last four quarters and dividing by four. E
Slide 21: Definitions
Q 3 I N V E S T O R P R E S E N T A T IO N 21 DEFINITIONS F I N A N C I A L R A T I O S NOTE: Images used throughout this presentation may have been taken before COVID. Net Income (LTM) [A] +[Net Interest Expense * (1-Effective Tax Rate)] ÷ [Book Value (Total Stockholders' Equity [B]) + Net Funded D