MYRG MYR Dashboard

Risks

• Our operating results may vary significantly from period to period.
• Our industry is highly competitive.
• Negative economic and market conditions may adversely impact our customers’ future spending and, as a result, our operations and growth.
• We may be unsuccessful in generating internal growth, which could impact the projects available to the Company.
• Our inability to successfully execute or integrate acquisitions or joint ventures may have an adverse impact on our growth strategy and business.
• Project performance issues, including those caused by third parties, or certain contractual obligations may result in additional costs to us, reductions or delays in revenues or the payment of penalties, including liquidated damages.
• We may be unable to attract and retain qualified personnel.
• The timing of new contracts and termination of existing contracts may result in unpredictable fluctuations in our cash flows and financial results.
• During the ordinary course of our business, we may become subject to lawsuits or indemnity claims.
• Backlog may not be realized or may not result in profits and may not accurately represent future revenue.
• Our insurance has limits and exclusions that may not fully indemnify us against certain claims or losses, including claims resulting from wildfires or other natural disasters, and the unavailability or cancellation of third party insurance coverages would increase our overall risk exposure and could disrupt our operations.
• Changes in tax laws or our interpretations of tax laws could materially impact our income tax liabilities.
• The nature of our business exposes us to potential liability for warranty claims and faulty engineering, which may reduce our profitability.
• Risks associated with operating in the Canadian market could restrict our ability to expand and harm our business and prospects.
• Our dependence on suppliers, subcontractors and equipment manufacturers could expose us to the risk of loss in our operations.
• Our participation in joint ventures and other projects with third parties may expose us to liability for failures of our partners.
• Legislative or regulatory actions relating to electricity transmission and renewable energy may impact demand for our services.
• We may incur liabilities and suffer negative financial or reputational impacts relating to occupational health and safety matters, including those related to environmental hazards such as wildfires and other natural disasters.
• Our failure to comply with environmental and other laws and regulations could result in significant liabilities.
• Our business may be affected by seasonal and other variations, including severe weather conditions and the nature of our work environment.
• Opportunities associated with government contracts could lead to increased governmental regulation applicable to us.
• We are subject to risks associated with climate change including financial risks and physical risks such as an increase in extreme weather events (such as floods, wildfires or hurricanes), rising sea levels and limitations on water availability and quality.
• Our use of percentage-of-completion accounting could result in a reduction or reversal of previously recognized revenues and profits.
• Our financial results are based upon estimates and assumptions that may differ from actual results.
• Our actual costs may be greater than expected in performing our fixed-price and unit-price contracts.
• An increase in the prices of certain materials and commodities used in our business could adversely affect our business.
• We may not be able to compete for, or work on, certain projects if we are not able to obtain necessary bonds, letters of credit, bank guarantees or other financial assurances.
• COVID-19 may have an adverse impact on our business, employees, liquidity, financial condition, results of operations and cash flows.
• Work stoppages or other labor issues with our unionized workforce could adversely affect our business, and we may be subject to unionization attempts.
• Multi-employer pension plan obligations related to our unionized workforce could adversely impact our earnings.
• We rely on information, communications and data systems in our operations and we or our business partners may be subject to failures, interruptions or breaches of such systems, which could affect our operations or our competitive position, expose sensitive information or damage our reputation.