公司下一个财报公布日期（2026财年第四季度）尚未确定。市场关注点集中于收购整合进展、在手订单 （截至2025年10月25日约82亿美元）的转化效率，以及AI基建和光纤宽带需求对业务的长期驱动。 以上内容基于公开资料整理，不构成投资建议。 2025年11月19日，公司发布2026财年第三季度（截至2025年10月25日）财报，合同收入14.52亿美元， 同比增长14.1%，摊薄EPS 3.63美元，超出市场预期。同时宣布19.5亿美元收购Power Solutions，切入AI 数据中心电力工程领域。截至2026年02月06日，股价报400.47美元，年内涨幅显著。 未来发展 经济观察网 根据截至2026年02月09日的公开信息，戴康工业（DY）近期未披露明确即将发生的公司特 定事件。以下基于最新动态总结值得关注的背景因素： 业绩经营情况 ...

WEST PALM BEACH, Fla., Feb. 13, 2026 (GLOBE NEWSWIRE) -- Dycom Industries, Inc. (NYSE: DY) will host a conference call to discuss fiscal 2026 fourth quarter and annual results on Wednesday, March 4, 2026, at 9:00 a.m. ET. Dycom will issue a press release reporting its results earlier that morning. Interested parties may participate in the question and answer session of the conference call by registering at https://register-conf.media-server.com/register/BIcf73a5ca65f0414b808f71d9ef678f52. Upon registration, ...

Core Insights - Dycom Industries (DY) has consistently beaten earnings estimates, with an average surprise of 15.84% over the last two quarters [1][2] Earnings Performance - For the most recent quarter, Dycom reported earnings of $3.63 per share, exceeding the expected $3.15 per share, resulting in a surprise of 15.24% [2] - In the previous quarter, the company reported $3.33 per share against an estimate of $2.86 per share, achieving a surprise of 16.43% [2] Earnings Estimates and Predictions - There has been a favorable change in earnings estimates for Dycom, with a positive Earnings ESP (Expected Surprise Prediction) indicating potential for continued earnings beats [5][8] - The current Earnings ESP for Dycom is +15.06%, suggesting analysts are optimistic about its near-term earnings potential [8] Zacks Rank and Predictive Power - Dycom holds a Zacks Rank of 3 (Hold), which, when combined with a positive Earnings ESP, indicates a high likelihood of another earnings beat [5][8] - Research indicates that stocks with a positive Earnings ESP and a Zacks Rank of 3 or better have a nearly 70% chance of producing a positive surprise [6]

Core Insights - The article highlights several stocks that are trading near buy points, with a focus on companies benefiting from data center expansion [1] Group 1: Stocks to Watch - GE Vernova (GEV) has successfully broken out past a buy point [1] - Vertiv Holdings (VRT), Dycom Industries (DY), Halozyme Therapeutics (HALO), and Viking Holdings (VIK) are also identified as stocks to watch, trading near buy points [1] - Among these, GE Vernova, Vertiv, and Dycom have reported a 35% growth in earnings per share, indicating strong performance linked to data center expansion [1] Group 2: Market Context - The article notes that the U.S. government is entering a shutdown, which may impact market conditions [1] - Despite market fluctuations, certain stocks like GE Vernova and others are highlighted for their potential as they approach key levels [1]

Core Insights - The individual has retired after over 43 years in investment research, now operating independently to provide actionable investment insights [1] - The focus is on rules and factor-based equity investing strategies, emphasizing the use of numbers to inspire human intelligence-driven investment stories rather than serving the numbers themselves [1] - A combination of factor analysis and classic fundamental analysis is employed to understand the true story of a company and its stock, highlighting the importance of future potential over past data [1] Experience and Background - The individual has extensive experience covering a wide range of stocks, including large cap, small cap, micro cap, value, growth, and income [1] - Previous roles include managing a high-yield fixed-income fund and conducting research on quantitative asset allocation strategies, which are foundational to modern Robo Advising [1] - The individual has authored two books on stock selection and analysis and has a passion for investor education, conducting numerous seminars [1]

Core Insights - Dycom Industries, Inc. has increased its engineering engagements related to fiber-to-the-home design, network optimization, and pre-construction planning, indicating potential for larger, higher-margin deployment contracts [1][10] - The federal broadband stimulus programs are pressuring service providers to deploy fiber at scale, positioning Dycom's engineering teams to convert design work into build and project management services, enhancing long-term profitability [2][3] - The Broadband Equity, Access and Deployment (BEAD) program is a significant multi-year catalyst with $29.5 billion expected in state and territory spending aimed at accelerating broadband expansion in underserved rural areas [3] Engineering Work and Market Dynamics - Increased engineering work does not guarantee build awards due to macroeconomic constraints like labor tightness and material cost volatility, but Dycom's improved project controls and productivity are mitigating execution risks [4][10] - The surge in engineering work may indicate a thickening pipeline for Dycom, suggesting larger builds are on the horizon [5] Competitive Landscape - Dycom specializes in telecommunications infrastructure, particularly fiber-to-the-home services, in a highly competitive market with players like MasTec, Inc. and EMCOR Group, Inc. [6] - MasTec offers broad infrastructure services across various sectors, providing scale advantages but diluting its focus on telecom compared to Dycom [7] - EMCOR operates as a mechanical/electrical contractor with a focus on diversified services rather than telecom build-outs, which contrasts with Dycom's specialization [8][9]

Industry Overview - The Zacks Building Products - Heavy Construction industry is facing tariff-related uncertainty, cost pressures, inflation, and labor constraints, which can delay projects and compress margins [1][4] - The industry consists of companies involved in mechanical and electrical construction, industrial and energy infrastructure, and building services, focusing on transportation projects like highways, bridges, and ports [3] Long-term Outlook - A generational U.S. infrastructure push is creating a multi-year project pipeline, driven by transportation upgrades, broadband expansion, and clean-energy initiatives [2] - The rapid expansion of data centers is increasing demand for advanced civil and electrical infrastructure, benefiting established players like MasTec, Dycom Industries, Tutor Perini, and Orion Group [2] Macroeconomic Challenges - The industry is experiencing headwinds from macroeconomic challenges, including a tight labor market and rising raw material costs, which are exacerbated by economic and policy uncertainty [4] - Companies are sensitive to changes in customer capital expenditure budgets and regulatory frameworks, with concerns about evolving tariff and trade policies affecting materials pricing [4] Data Center and Infrastructure Growth - The AI/data-center buildout is a significant driver for the industry, enhancing backlog visibility and margin performance through long-term, high-value projects [5] - The U.S. administration's infrastructure plan aims to create modern, sustainable infrastructure, which is expected to have significant implications for the economy and the construction industry over the next five years [5] Inorganic Growth and Renewable Energy - Companies are increasingly using acquisitions to solidify product portfolios and leverage new business opportunities, particularly in renewable energy projects [6] - The push for decarbonization and clean energy solutions is expected to benefit companies involved in infrastructure for carbon-free energy [7] Industry Performance and Valuation - The Zacks Building Products - Heavy Construction industry currently ranks 188, placing it in the bottom 23% of over 250 Zacks industries, indicating bleak near-term prospects [8][10] - Despite a cloudy outlook, the industry has outperformed the broader Zacks Construction sector and the S&P 500, with a collective gain of 39% over the past year compared to the sector's 2.6% rise [12] Current Valuation - The industry is trading at a forward 12-month price-to-earnings ratio of 23.48, higher than the S&P 500's 22.81 and the sector's 20.61 [15] - Over the past five years, the industry's P/E ratio has ranged from a low of 11.39X to a high of 23.48X, with a median of 16.71X [16] Notable Companies - **Tutor Perini**: A global construction services provider with a robust pipeline of large infrastructure projects, expected to grow earnings by 17.7% in 2026 [18][19] - **Dycom Industries**: A specialty contracting firm benefiting from fiber-to-the-home deployments and federal broadband initiatives, with earnings estimates increasing to $10.71 per share for fiscal 2026 [24][25] - **MasTec**: An infrastructure construction company with strong growth prospects driven by communications and clean energy demand, expecting earnings growth of 28.3% in 2026 [26][28] - **Orion Group**: A specialty construction firm with solid growth prospects in marine and coastal infrastructure, expecting earnings growth of 44.7% in 2026 [30][31]

Core Insights - Strong secular demand from broadband and network expansion is driving growth for utility and telecom infrastructure services in the United States, benefiting companies like Dycom Industries, Inc. and Primoris Services Corporation [1] Group 1: Dycom Industries, Inc. (DY) - Dycom is a specialty contracting firm in the telecom industry, gaining from increased capital spending by hyperscalers to support data-heavy applications and AI workloads [5][6] - As of October 2025, Dycom's total backlog grew 4.7% year over year to $8.22 billion, with the next 12-month backlog rising 11.4% [5] - The Broadband Equity, Access and Deployment (BEAD) program is expected to catalyze significant multi-year spending, with $29.5 billion anticipated for state and territory spending, directly aligning with Dycom's capabilities [6] - Dycom expects total contract revenues for fiscal 2026 to be in the range of $5.35-$5.425 billion, representing a 13.8-15.4% year-over-year increase [7] - Dycom's trailing 12-month return on equity (ROE) is 22.2%, significantly exceeding Primoris, indicating strong efficiency in generating shareholder returns [24] Group 2: Primoris Services Corporation (PRIM) - Primoris has been experiencing robust demand across various sectors, including power delivery, gas operations, communications, and renewable energy, supported by federal and state funding initiatives [9] - Adjusted EPS for the first nine months of 2025 rose 65.7% year over year to $4.54, with the 2025 adjusted EPS outlook raised to $5.35-$5.55, up from $4.90-$5.10 [11] - The One Big Beautiful Bill Act provides tax incentives and allocates about $150 billion for defense spending, benefiting Primoris by enabling a substantial volume of projects [12] - Despite strong demand, Primoris faces margin pressures, with third-quarter 2025 margins contracting 120 basis points to 10.8% due to various operational challenges [13] - Primoris' EPS estimates for 2025 indicate 41.9% year-over-year growth, but the 2026 estimates have seen downward revisions [20][22] Group 3: Comparative Analysis - Dycom offers higher growth potential through fiber exposure and BEAD funding but trades at a premium valuation, while Primoris benefits from diversified infrastructure demand but faces margin pressures [10][26] - Dycom's stock has outperformed Primoris in recent months, indicating stronger market performance [14] - Dycom is considered a better investment option due to clearer growth visibility and stronger execution metrics compared to Primoris, which has a weaker near-term outlook [28]

Core Insights - Dycom Industries, Inc. (DY) is well-positioned to benefit from the upcoming fiber build-outs, particularly through the Broadband Equity, Access and Deployment (BEAD) program, which has an expected funding of $29.5 billion aimed at enhancing broadband access in underserved rural areas [1] Industry Overview - Demand for U.S. broadband infrastructure remains strong, with service providers reallocating capital expenditures towards fiber-to-the-home and middle-mile builds, as these offer better long-term economics compared to legacy copper upgrades [2] - The BEAD program allocates approximately $26 billion specifically for fiber or HFC infrastructure, aligning closely with Dycom's core capabilities and expanding its addressable market over the next four years [3] Company Positioning - Dycom's extensive experience in large-scale fiber deployment and diversified exposure to various end markets, including carriers and cable MSOs, provides a competitive advantage over smaller, regionally focused contractors [3] - The company is expected to benefit from higher-margin fiber work, which enhances operational leverage compared to traditional telecom maintenance services [4] - Strategic investments in fiber-specific engineering and workforce development further strengthen Dycom's competitive position [4] Competitive Landscape - Dycom is emerging as a key beneficiary of the U.S. fiber and digital infrastructure build cycle, competing with major players like Quanta Services, Inc. and MasTec, Inc. [5] - Quanta has broader exposure to power transmission and renewable energy, while MasTec's earnings volatility and capital intensity dilute its fiber focus compared to Dycom's strategy [6][7] Stock Performance and Valuation - Dycom's stock has increased by 44.4% over the past six months, outperforming the broader construction sector and the S&P 500 Index [8] - The stock is currently trading at a forward P/E ratio of 25.86, indicating a premium compared to industry peers [11] Earnings Outlook - Earnings estimates for Dycom for fiscal years 2026 and 2027 have shown upward trends, with projected year-over-year growth rates of 26.9% and 35%, respectively [12] - Recent revisions indicate a significant increase in earnings estimates, reflecting positive market sentiment [13]

Telecom Industry Overview - Telecom stocks, including AT&T, Dycom Industries, and America Movil, are highlighted as key companies to watch due to their significant trading volume recently [2] - These stocks are valued for their steady cash flows and dividends but are sensitive to capital expenditures, regulatory changes, and technological shifts in connectivity consumption [2] AT&T (T) - AT&T, Inc. operates as a holding company providing telecommunications and technology services through its Communications and Latin America segments [3] - The Communications segment offers wireless, wireline telecom, and broadband services to both businesses and consumers in the US and globally [3] Dycom Industries (DY) - Dycom Industries, Inc. specializes in providing contracting services to the telecommunications infrastructure and utility industries in the US [3] - The company offers engineering services for telecommunications providers, including planning and design for various cable systems and wireless networks [3] America Movil (AMX) - América Móvil, S.A.B. de C.V. provides telecommunications services across Latin America and internationally [4] - The company offers a range of services including wireless and fixed voice services, data services, and value-added services such as Internet access and mobile payment solutions [4]