MYR Group Inc. (NasdaqGS:MYRG) will look for acquisitions. Kelly Huntington, Senior Vice President and Chief Financial Officer, during the first quarter 2024 earnings results conference call said that ?First quarter 2024 free cash flow was negative $18 million compared to positive free cash flow of $18 million for the same period last year, reflecting the decrease in operating cash flow and higher capital expenditures. Moving to liquidity and our balance sheet.

We had approximately $294 million of working capital, $38 million of funded debt and $434 million in borrowing availability under our credit facility as of March 31, 2024. We have continued to maintain a strong funded debt-to-EBITDA leverage ratio of 0.2x as of March 31, 2024. We believe that our credit facility, strong balance sheet and future cash flow from operations will enable us to meet our working capital needs, support the organic growth of our business, pursue acquisitions and opportunistically repurchase shares?.