MYR Group, Inc.

Good morning, everyone, and welcome to the MYR Group Second Quarter 2021 Earnings Results Conference Call. Today's conference is being recorded. At this time, for opening remarks and introductions, I would like to turn the conference over to David Gutierrez of Dissener Corporate Services. Please go ahead.

Thank you, Teresa. Good morning, everyone. I'd like to welcome you to the MYR Group Conference Call. to discuss the company's second quarter results for 2021, which were reported yesterday. Joining us on today's call are Rick Schwartz, President and Chief Executive Officer, Betty Johnson, Senior Vice President and Chief Financial Officer, Todd Cooper, Senior Vice President and Chief Operating Officer of MYR Group's transmission and distribution segment, and Jeff Wanaka, Senior Vice President and Chief Operating Officer of MYR Group's commercial and industrial segment. If you did not receive yesterday's press release, please contact Reznor Corporate Services at 312-726-3600, and we will send you a copy. Or go to the MYR Group website, where a copy is available under the Investor Relations tab. Also, a replay of today's call will be available until Thursday, August 5, 2021, at 11 a.m. Mountain Time by dialing 855-859-2056 or 404-537-3406 and entering conference ID 617-5534. Before we begin, I want to remind you that this discussion may contain forward-looking statements. Any such statements are based upon information available to MYR Group's management as of this date An MYR group assumes no obligation to update any such forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Accordingly, these statements are no guarantee of future performance. These risks and uncertainties are discussed in the company's annual report on Form 10-K for the year ended December 31, 2020, and in yesterday's press release. Certain non-GAAP financial information will be discussed on the call today. A reconciliation of these non-GAAP measures to the most comparable GAAP measures is set forth in yesterday's press release. With that said, let me turn the call over to Rick Schwartz.

Thanks, David. Good morning, everyone. Welcome to our second quarter 2021 conference call to discuss financial and operational results. I will begin by providing a brief summary of the second quarter results and then we'll turn the call over to Betty Johnson, our Chief Financial Officer, for a more detailed financial review. Following Betty's overview, Todd Cooper and Jeff Wanaka, Chief Operating Officers for our T&D and C&I segments, will provide a summary of our segment activity and discuss some of MYR Group's opportunities going forward. I will then conclude today's call with some closing remarks and open the call up for your questions. Our solid second quarter performance reflects strong customer relationships, diverse market capabilities, and continuous improvement of project delivery. Our second quarter results include record high net income of $21.2 million, a 58.5% increase over our second quarter 2020 net income, along with record high quarterly revenues, gross profit, and EBITDA. Our backlog at the end of the second quarter was $1.57 billion, reflecting our strength in the markets we serve and the depth of our customer relationships. Our T&D and C&I segments are currently experiencing steady bidding and project activity. Trends in utility CapEx budgets show utilities expect to invest heavily in T&D transformation and upgrades. Renewable energy is a significant driver of infrastructure improvements. and we are strategically expanding relationships with utilities and developers to capitalize on infrastructure and clean energy project opportunities. Our CNI market segments continue to remain active through the evolving market conditions. Market indicators point to continued recovery in the CNI industry. We continue to focus on securing work in our core markets while expanding customer relationships to maintain and strengthen our competitive positions. Our T&D and C&I segments continue to attract and develop diverse, talented, and dedicated team members. MRR Group values and promotes excellence in safety, project delivery, and the development of our people. Collectively, we strive every day to fulfill our mission as an organization and create valuable outcomes for our customers. We are proud of our second quarter performance and are excited to continue to implement our strategies for generating growth, and delivering strong financial results. Now, Betty will provide details on our second quarter 2021 financial results.