Why did MYRG's Q4 earnings fall short of forecasts?

MYR Group's Q4 earnings fell short of forecasts due to several key factors: 1. **Revenue Decline in Key Segments**: The Transmission & Distribution (T&D) segment, which constitutes a significant portion of MYR's revenue, experienced a substantial decline. This was primarily due to the completion of certain clean energy projects, which negatively impacted future revenue. The Commercial & Industrial (C&I) segment also saw a decrease in revenue, although not as significant as in the T&D segment. 2. **Year-Over-Year Comparison**: When comparing Q4 2024 to Q4 2023, MYR's revenue decreased by 17.4%. This decline is a result of external factors and internal strategic shifts. 3. **Strategic Adjustments**: MYR has been making strategic adjustments, such as selective project bidding, which could have an impact on short-term revenue but is expected to benefit the company in the long run. In summary, MYR's Q4 earnings fell short due to a combination of revenue declines in key segments and strategic adjustments.