MYR Group, Inc.

Good morning, everyone, and welcome to the MYR Group Third 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 Dresdner Corporate Services. Please go ahead, David.

Thank you, and good morning, everyone. I'd like to welcome you to the MYR Group Conference Call to discuss the company's third 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 NYR Group's Transmission and Distribution Segment. And Jeff Wanaka, Senior Vice President and Chief Operating Officer of NYR Group's Commercial and Industrial Segment. If you did not receive yesterday's press release, please contact Drezner 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, November 4, 2021, at 11 a.m. Mountain Time. by dialing 855-859-2056 or 404-537-3406 and entering conference ID 424-9231. 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 MWIRE Groups 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 Rich Schwartz. Rich Schwartz, Chief Financial Officer, Financial Services, Thanks, David.

Good morning, everyone. Welcome to our third quarter 2021 conference call to discuss financial and operational results. I will begin by providing a brief summary of our third 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 strong market position, diverse geographic reach, and operational excellence have resulted in a solid third quarter 2021 performance. Results this quarter included record high net income of $23.2 million, a 34% increase over our third quarter 2020 net income, along with quarterly revenues of $610.2 million. Our backlog at the end of the third quarter was $1.63 billion, indicating our competitive strength in the market and our strong customer relationships. We are experiencing continued bidding and project activity throughout our T&D segment. The long-term relationships we hold with utility customers and expanding relationships we are creating with energy developers position us well for future growth and opportunities. Renewable energy system hardening and anticipated upgrades of aging infrastructure are expected to be the major drivers of this growth. Our CNI segment continues to maintain a strong market presence, and we have achieved a solid backlog of work. Market indicators remain positive with continued growth opportunities in the majority of our CNI markets. We continue to focus on securing work in our core markets while expanding our capabilities in renewable energy and electric vehicle infrastructure. Our greatest strength lies within our talented and dedicated employees. We continue to develop and empower our teams to reach their highest potential as we grow our company. Our team members are committed to providing customers with excellence in safety and project delivery while helping them achieve their business goals. The current and proposed COVID-19 safety protocols and vaccine requirements are being monitored closely on both a federal and individual customer basis. While we encourage our employees to receive the vaccine, Increased protocols could affect future labor availability for the majority of contractors. We are excited about our third quarter performance, and we look forward to continued growth and producing strong financial results. Now, Betty will provide details on our third quarter 2021 financial results.