Company Overview - Dycom Industries Inc. is a specialty contracting firm operating in the telecom industry, providing engineering, construction, maintenance, and installation services for cable and telephone companies [10]. - The company is currently rated 3 (Hold) on the Zacks Rank, with a VGM Score of B [10]. Growth Potential - Dycom Industries is considered a top pick for growth investors, with a Growth Style Score of A, forecasting year-over-year earnings growth of 8.1% for the current fiscal year [11]. - The Zacks Consensus Estimate for Dycom's earnings has increased by $0.01 to $7.97 per share, with one analyst revising their earnings estimate upwards in the last 60 days [11]. - The company boasts an average earnings surprise of 27.9%, indicating strong performance relative to expectations [11]. Investment Considerations - With a solid Zacks Rank and top-tier Growth and VGM Style Scores, Dycom Industries should be on investors' short lists for potential investment opportunities [11].

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For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both. The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor. Zacks Premium also includes the Zacks Style Scores. What are the Zacks Style Scores? Deve ...

Prapat Aowsakorn/iStock via Getty Images Investment thesis On Wednesday, August 21st, Dycom Industries, Inc. (NYSE:DY) announced second quarter revenue and earnings that beat both top and bottom-line estimates. It also announced a major acquisition. However, quite a few investors sold their shares that day, pushing the price down 7.55% on the 21st and another 2.14% on the 22nd: 10 186 190 166 175 170 DY 5-day price chart (Seeking Alpha) Are these declines a signal that the price has started tumbling, or is ...

Dycom Industries, Inc. (DY) has strategically positioned itself for significant growth with the acquisition of Black & Veatch's public carrier wireless telecommunications infrastructure business for $150 million. This acquisition is Dycom's largest ever in the wireless services space, underlining its strategic importance in strengthening its capabilities in wireless construction services. The acquisition expands Dycom's geographic presence, particularly in states like New York, New Jersey, Missouri, Kansas, ...

Dycom Industries Inc. (DY) reported strong results in second-quarter fiscal 2025 (ended Jul 27, 2024). Both the top and the bottom line surpassed their respective Zacks Consensus Estimate. Contract revenues and earnings increased on a year-over-year basis. The upside was backed by solid organic growth from the top five customers and strong contributions from all other customers. On Aug 21, the company acquired Black & Veatch's public carrier wireless telecommunications infrastructure business. This takeover ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 27, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number 001-10613 DYCOM INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Florida 59-1277135 (State or o ...

Financial Data and Key Metrics Changes - Revenue for the second quarter increased to $1.203 billion, a rise of 15.5% year-over-year, with organic revenue growth of 9.2% [8][19] - Gross margin improved to 20.8%, up 52 basis points compared to the same quarter last year [8][19] - Adjusted EBITDA was $158.3 million, representing 13.2% of revenue, compared to 12.6% in Q2 of the previous year [19] - Adjusted earnings per share increased to $2.46 from $2.03 year-over-year [19] Business Line Data and Key Metrics Changes - Revenue from the top five customers accounted for 54.9% of total revenue, with AT&T being the largest customer at 17.5% of revenue, growing organically by 20.6% [15][19] - Revenue from electric utilities for fiber construction was $88.7 million in the quarter [16] Market Data and Key Metrics Changes - Backlog at the end of the second quarter was $6.834 billion, an increase of $470 million from the previous quarter [17] - The company expects the acquisition of Black & Veatch's wireless telecommunications infrastructure business to contribute $250 million to $275 million in revenue for fiscal year 2026 [10][21] Company Strategy and Development Direction - The company aims to connect America and is well-positioned for growth in the industry, particularly in wireless network modernization and fiber deployments [6][12] - The acquisition of Black & Veatch is seen as a strategic move to enhance geographic presence and address growth opportunities in wireless network modernization [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of macroeconomic conditions and the improvement in labor markets, which positions the company well for future growth [14] - The company anticipates modest revenue growth in the third and fourth quarters due to a focus on site acquisition for next year's construction program [10][22] Other Important Information - The company completed the acquisition of a telecommunications construction contractor for $20.8 million, expanding its geographic footprint to Alaska [21] - The Broadband, Equity, Access, Deployment (BEAD) program is expected to provide significant funding for rural communications networks, with over $40 billion allocated [13][14] Q&A Session Summary Question: How is Dycom positioned in the intercity opportunity? - Management indicated that Dycom has significant experience in intercity work, having placed over 2,000 miles of intercity fiber in the past [28] Question: What was the catalyst for the sequential increase in backlog? - Management noted that there were no BEAD opportunities in the backlog yet, but a broad set of opportunities contributed to the increase [29] Question: Is organic revenue growth expected to decelerate in Q3? - Management clarified that while organic growth may appear to decelerate, it is influenced by prior year comparisons and expected new revenues from acquisitions [32][33] Question: What is the growth rate embedded in the Black & Veatch acquisition? - Management stated that the $1 billion backlog from the acquisition extends through the end of calendar 2027, indicating a solid growth opportunity [43] Question: How does the company view the BEAD program? - Management expressed optimism about the BEAD program, anticipating significant activity in the next year as approvals are secured [55]

Core Insights - Dycom Industries reported quarterly earnings of $2.46 per share, exceeding the Zacks Consensus Estimate of $2.18 per share, and showing an increase from $2.03 per share a year ago, resulting in an earnings surprise of 12.84% [1] - The company achieved revenues of $1.2 billion for the quarter ended July 2024, surpassing the Zacks Consensus Estimate by 0.68% and increasing from $1.04 billion year-over-year [2] - Dycom Industries shares have appreciated approximately 68.7% year-to-date, significantly outperforming the S&P 500's gain of 17.3% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $2.43 on revenues of $1.23 billion, while the estimate for the current fiscal year is $8.02 on revenues of $4.64 billion [7] - The estimate revisions trend for Dycom Industries is favorable, contributing to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Building Products - Heavy Construction industry, to which Dycom Industries belongs, is currently ranked in the top 4% of over 250 Zacks industries, suggesting a strong industry outlook [8]

PALM BEACH GARDENS, Fla., Aug. 21, 2024 (GLOBE NEWSWIRE) -- Dycom Industries, Inc. (NYSE: DY) today announced that the Company acquired Black & Veatch's public carrier wireless telecommunications infrastructure business. The acquired business provides wireless construction services primarily in the states of New York, New Jersey, Missouri, Kansas, Colorado, Utah, Wyoming, Idaho and Montana. The acquisition strategically strengthens Dycom's customer base and expands geographic scope to more broadly address g ...