Myr Group, Inc. · NASDAQ:MYRG
Myr — Investor Presentation (April 2022)
23 slides from Myr's investor presentation, Apr 29, 2022
Slide 1: Investor Presentation Q1 | April 2022
Q 1 I N V E S T O R P R E S E N T A T IO N 1 INVESTOR PRESENTATION Q 1 | A P R I L 2 0 2 2 | N A S D A Q : M Y R G
Slide 2: Safe Harbor Statement
Q 1 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
Q 1 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 64 OFFICE LOCATIONS IN U.S. AND CANADA* MYR Group Inc. subsidiaries deliver some of the largest and most notable electric
Slide 4: Record revenue in 2021
Q 1 I N V E S T O R P R E S E N T A T IO N 4 Achieved record revenue in 2021, up 11% from 2020 $2.54B LTM 03/31/2022 $1.40B 2017 $1.53B 2018 $2.07B 2019 $2.50B 2021 RANKED AMONG TOP 5 U.S. SPECIALTY ELECTRICAL CONTRACTORS 27 YEARS IN A ROW $2.25B 2020 CAGR 15.0%
Slide 5: Outlook
Q 1 I N V E S T O R P R E S E N T A T IO N 5 OUTLOOK • T&D work activity primarily consists of small to medium-sized projects, with some larger transmission, HVDC, and utility scale solar projects; and we continue to execute routine maintenance work under long-term MSAs. Drivers for T&D spending rem
Slide 6: Enhances Our Strong Backlog
Q 1 I N V E S T O R P R E S E N T A T IO N 6 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 7: 2022 Acquisition
Q 1 I N V E S T O R P R E S E N T A T IO N 7 2022 ACQUISITION • Operational presence in Canada • Headquartered in Toronto, Ontario Expands Service Offerings Strengthens Geographic Reach • Established T&D presence throughout the province • Full service electrical distribution construction company off
Slide 8: Transmission & Distribution Business Segment Update
Q 1 I N V E S T O R P R E S E N T A T IO N 8 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 • T&D record LTM March 31, 2022 revenue of $1.35 Billion • ~ 50% of T&D business is Master Service Agreement work • Acquired the Powerline Plus Companies in January of 2022 Transm
Slide 9: T&D Market Drivers
Q 1 I N V E S T O R P R E S E N T A T IO N 9 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 • Aging infrastructure, system hardening, grid reliability, and clean energy projects continue to serve as key drivers for continued investments in transmission infrastructure, which is is the
Slide 10: Commercial & Industrial Business Segment Update
Q 1 I N V E S T O R P R E S E N T A T IO N 10 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 • C&I LTM March 31, 2022 revenue of $1.19 Billion • Growth primarily due to increases in volume across all project sizes and incremental revenues from the acquisitions of CSI and the
Slide 11: C&I Outlook
Q 1 I N V E S T O R P R E S E N T A T IO N 11 C&I OUTLOOK A C T I V E M A R K E T • Despite adverse effects of inflation and supply disruptions, our C&I segment sees steady bidding opportunities in our core markets including healthcare, clean energy, transportation and data centers. • The $1.2 trill
Slide 12: Market Opportunities
Q 1 I N V E S T O R P R E S E N T A T IO N 12 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 In 2021, the US solar market installed record solar capacity and utility-scale solar had its biggest year yet at nearly 17 GWdc installed, more than double the utility solar i
Slide 13: Clean Energy Transformation Partners
Q 1 I N V E S T O R P R E S E N T A T IO N 13 CLEAN ENERGY TRANSFORMATION PARTNERS Tremendous investment in electrical infrastructure is needed to meet the needs of the evolving energy landscape. As the clean energy sector expands, efforts to accelerate this transformation provide solid growth drive
Slide 14: Positioned for Growth
Q 1 I N V E S T O R P R E S E N T A T IO N 14 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 15: Cornerstones of Our Sustainability Practices
Q 1 I N V E S T O R P R E S E N T A T IO N 15 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 16: Delivering Strong Returns
Q 1 I N V E S T O R P R E S E N T A T IO N 16 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 25.60% EME - CAGR 8.25% PWR - CAGR 33.40% MTZ - CAGR 13.95% DY - CAGR (3.66%) -150.0% -100.0% -50.0% 0.0% 50.0% 100.0% 150.0% 200.0% 250.0% 300.0% Dividend Adjust
Slide 17: Balance Sheet Strength
Q 1 I N V E S T O R P R E S E N T A T IO N 17 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 $50.7 $57.8 $44.4 $52.4 $59.4 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% $0 $20 $40 $60 $80 2018 2019 2020 2021 Q1 LTM 2022 M ill io n s CAPEX Investment CAPEX Spe
Slide 18: Financial Performance Demonstrates Strong, Long-Term Execution
Q 1 I N V E S T O R P R E S E N T A T IO N 18 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 $1,531 $2,071 $2,247 $2,498 $2,542 $- $500 $1,000 $1,500 $2,000 $2,500 $3,000 2018 2019 2020 2021 Q1 LTM 2022 M ill io n s Revenue by Work Type Trans. Dist. C
Slide 19: Experienced Leaders
Q 1 I N V E S T O R P R E S E N T A T IO N 19 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 20: Creating Shareholder Value
Q 1 I N V E S T O R P R E S E N T A T IO N 20 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 21: Representative Customer Sample
Q 1 I N V E S T O R P R E S E N T A T IO N 21 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 22: EBITDA Reconciliation
Q 1 I N V E S T O R P R E S E N T A T IO N 22 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 23: Definitions
Q 1 I N V E S T O R P R E S E N T A T IO N 23 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 + Amortization of Intangibles)* (1-Effective Tax Rate)] ÷ [Book Value (Total Stockhold