Dycom Industries (DY) came out with quarterly earnings of $2.12 per share, beating the Zacks Consensus Estimate of $1.39 per share. This compares to earnings of $1.73 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 52.52%. A quarter ago, it was expected that this provider of specialty contracting services would post earnings of $0.91 per share when it actually produced earnings of $0.79, delivering a surprise of -13.19%. Over ...

[Fiscal 2025 First Quarter Financial Performance](index=1&type=section&id=Fiscal%2025%20First%20Quarter%20Financial%20Performance) [First Quarter Highlights](index=1&type=section&id=First%20Quarter%20Highlights) Dycom Industries reported strong Q1 FY2025 results, with significant increases in contract revenues, Adjusted EBITDA, and diluted EPS, and share repurchases Fiscal 2025 First Quarter Financial Highlights (YoY) | Metric | Quarter Ended April 27, 2024 | Quarter Ended April 29, 2023 | YoY Change | | :-------------------------------- | :--------------------------- | :--------------------------- | :--------- | | Contract revenues | $1,142.4 million | $1,045.5 million | +9.3% | | Organic contract revenues | $1,071.2 million | $1,045.5 million | +2.5% | | Non-GAAP Adjusted EBITDA | $130.9 million | $113.5 million | +15.3% | | Non-GAAP Adjusted EBITDA % of revenues | 11.5% | 10.9% | +0.6 pp | | Net income | $62.6 million | $51.5 million | +21.4% | | Diluted EPS | $2.12 | $1.73 | +22.5% | - The Company repurchased **210,000 shares** of its common stock for **$29.8 million** at an average price of **$141.84 per share** during the quarter[3](index=3&type=chunk)[8](index=8&type=chunk) [Outlook for Q2 Fiscal 2025](index=1&type=section&id=Outlook) The Company anticipates Q2 FY2025 growth, projecting high-single digit organic contract revenue growth and increased Non-GAAP Adjusted EBITDA percentage - Organic contract revenues are expected to grow by **high-single digits** as a percentage of contract revenues compared to the prior year quarter[4](index=4&type=chunk) - Approximately **$70 million** of acquired contract revenues are expected for the quarter ending July 27, 2024[4](index=4&type=chunk) - Non-GAAP Adjusted EBITDA as a percentage of contract revenues is expected to increase **25 to 75 basis points** compared to the prior year quarter[4](index=4&type=chunk) [Company Information & Disclosures](index=1&type=section&id=Company%20Information%20%26%20Disclosures) [About Dycom Industries, Inc.](index=3&type=section&id=About%20Dycom%20Industries%2C%20Inc.) Dycom Industries, Inc. is a leading US specialty contractor for telecommunications and utility infrastructure, offering comprehensive services from planning to maintenance - Dycom provides specialty contracting services to the telecommunications infrastructure and utility industries throughout the United States[9](index=9&type=chunk) - Services include program management, planning, engineering and design, aerial, underground, and wireless construction, maintenance, fulfillment, and underground facility locating services[9](index=9&type=chunk) [Forward-Looking Information](index=3&type=section&id=Forward%20Looking%20Information) This section outlines forward-looking statements based on management's expectations, subject to risks and uncertainties detailed in SEC filings - The press release contains forward-looking statements, particularly regarding the outlook for the quarter ending July 27, 2024[10](index=10&type=chunk) - These statements are based on management's expectations and are subject to known and unknown risks and uncertainties that may cause actual results to differ materially[10](index=10&type=chunk) - Significant risks and uncertainties are described in the Company's Form 10-K, 10-Q, and 8-K reports, including economic conditions, customer capital budgets, material/labor costs, and impacts of acquisitions[10](index=10&type=chunk) [Conference Call Information](index=1&type=section&id=Conference%20Call%20Information%20and%20Other%20Selected%20Data) Details for the fiscal 2025 first quarter results conference call, including registration, webcast access, and replay availability - A conference call to discuss fiscal 2025 first quarter results was scheduled for Wednesday, May 22, 2024, at **9:00 a.m. Eastern time**[6](index=6&type=chunk) - Participants could register to receive a dial-in number and PIN, or access a live listen-only audio webcast with an accompanying slide presentation[6](index=6&type=chunk)[7](index=7&type=chunk) - A replay of the webcast and related materials will be available on the Company's Investor Center website for approximately **120 days**[7](index=7&type=chunk) [Condensed Consolidated Financial Statements](index=4&type=section&id=Condensed%20Consolidated%20Financial%20Statements) [Condensed Consolidated Balance Sheets](index=4&type=section&id=CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) The balance sheet shows Q1 FY2025 financial position, with total assets increasing to **$2.61 billion** and stockholders' equity rising to **$1.08 billion** sequentially Condensed Consolidated Balance Sheet Highlights (in thousands) | Metric | April 27, 2024 | January 27, 2024 | Change | | :------------------------- | :------------- | :--------------- | :----- | | **ASSETS** | | | | | Total current assets | $1,626,821 | $1,550,036 | +$76,785 | | Total assets | $2,611,608 | $2,516,885 | +$94,723 | | **LIABILITIES & EQUITY** | | | | | Total current liabilities | $513,554 | $506,304 | +$7,250 | | Total liabilities | $1,530,976 | $1,462,229 | +$68,747 | | Total stockholders' equity | $1,080,632 | $1,054,656 | +$25,976 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) Q1 FY2025 operations show a **9.3%** increase in contract revenues to **$1.14 billion** and a **21.4%** rise in net income to **$62.6 million** year-over-year Condensed Consolidated Statements of Operations Highlights (in thousands) | Metric | Quarter Ended April 27, 2024 | Quarter Ended April 29, 2023 | YoY Change | | :------------------------------------------ | :--------------------------- | :--------------------------- | :--------- | | Contract revenues | $1,142,423 | $1,045,474 | +9.3% | | Costs of earned revenues | $921,636 | $853,366 | +7.9% | | General and administrative | $94,555 | $82,357 | +14.8% | | Income before income taxes | $77,444 | $66,099 | +17.2% | | Net income | $62,554 | $51,523 | +21.4% | | Diluted earnings per common share | $2.12 | $1.73 | +22.5% | [Non-GAAP Financial Measures Reconciliation and Explanation](index=6&type=section&id=Non-GAAP%20Financial%20Measures%20Reconciliation%20and%20Explanation) [Reconciliation of Non-GAAP Financial Measures](index=6&type=section&id=RECONCILIATION%20OF%20NON-GAAP%20FINANCIAL%20MEASURES) This section reconciles Non-GAAP financial measures, including organic contract revenues and adjusted EBITDA, to GAAP figures for clearer performance comparison [Contract Revenues, Non-GAAP Organic Contract Revenues, and Growth %](index=6&type=section&id=CONTRACT%20REVENUES%2C%20NON-GAAP%20ORGANIC%20CONTRACT%20REVENUES%2C%20AND%20GROWTH%20%25) Contract Revenues Reconciliation (in thousands) | Metric | Quarter Ended April 27, 2024 | Quarter Ended April 29, 2023 | YoY Growth % | | :------------------------------------ | :--------------------------- | :--------------------------- | :----------- | | Contract Revenues - GAAP | $1,142,423 | $1,045,474 | 9.3% | | Revenues from acquired businesses | $(71,237) | — | N/A | | Non-GAAP Organic Contract Revenues | $1,071,186 | $1,045,474 | 2.5% | [Net Income and Non-GAAP Adjusted EBITDA](index=6&type=section&id=NET%20INCOME%20AND%20NON-GAAP%20ADJUSTED%20EBITDA) Net Income to Non-GAAP Adjusted EBITDA Reconciliation (in thousands) | Metric | Quarter Ended April 27, 2024 | Quarter Ended April 29, 2023 | YoY Change | | :------------------------------------------ | :--------------------------- | :--------------------------- | :--------- | | Net income | $62,554 | $51,523 | +$11,031 | | Interest expense, net | $12,834 | $11,372 | +$1,462 | | Provision for income taxes | $14,890 | $14,576 | +$314 | | Depreciation and amortization | $45,205 | $37,271 | +$7,934 | | **EBITDA** | **$135,483** | **$114,742** | **+$20,741** | | Gain on sale of fixed assets | $(12,404) | $(7,816) | -$4,588 | | Stock-based compensation expense | $7,823 | $6,620 | +$1,203 | | **Non-GAAP Adjusted EBITDA** | **$130,902** | **$113,546** | **+$17,356** | | Non-GAAP Adjusted EBITDA % of contract revenues | 11.5% | 10.9% | +0.6 pp | [Explanation of Non-GAAP Financial Measures](index=7&type=section&id=Explanation%20of%20Non-GAAP%20Financial%20Measures) The company defines Non-GAAP Organic Contract Revenues and Non-GAAP Adjusted EBITDA, explaining their purpose for direct performance comparison - **Non-GAAP Organic Contract Revenues** are defined as contract revenues from businesses included for the entire period in both current and prior year periods, excluding storm restoration services[21](index=21&type=chunk)[23](index=23&type=chunk) - **Non-GAAP Adjusted EBITDA** is defined as net income before interest, taxes, depreciation and amortization, gain on sale of fixed assets, stock-based compensation expense, and certain non-recurring items[21](index=21&type=chunk)[23](index=23&type=chunk) - Management believes these **Non-GAAP measures** are useful for comparing the Company's performance with prior periods and with other companies, despite different capital structures or tax rates[21](index=21&type=chunk)[23](index=23&type=chunk)

First Quarter Highlights PALM BEACH GARDENS, Fla., May 22, 2024 (GLOBE NEWSWIRE) -- Dycom Industries, Inc. (NYSE: DY) announced today its results for the first quarter ended April 27, 2024. Contract revenues increased 9.3% to $1.142 billion for the quarter ended April 27, 2024, compared to $1.045 billion in the year ago quarter. Contract revenues increased 2.5% on an organic basis after excluding $71.2 million of contract revenues from acquired businesses that were not owned during the year ago quarter. Non ...

First Quarter Highlights PALM BEACH GARDENS, Fla., May 22, 2024 (GLOBE NEWSWIRE) -- Dycom Industries, Inc. (NYSE: DY) announced today its results for the first quarter ended April 27, 2024. Contract revenues increased 9.3% to $1.142 billion for the quarter ended April 27, 2024, compared to $1.045 billion in the year ago quarter. Contract revenues increased 2.5% on an organic basis after excluding $71.2 million of contract revenues from acquired businesses that were not owned during the year ago quarter. Non ...

Dycom Industries (DY) closed at $147.48 in the latest trading session, marking a -1.67% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.21%. On the other hand, the Dow registered a loss of 0.1%, and the technology-centric Nasdaq decreased by 0.26%. Prior to today's trading, shares of the provider of specialty contracting services had gained 11.3% over the past month. This has outpaced the Construction sector's gain of 6.18% and the S&P 500's gain of 5.04% in that t ...

Dycom Industries, Inc. (DY) is scheduled to report first-quarter fiscal 2025 results on May 22, before the opening bell. In the last reported quarter, the company's earnings missed the Zacks Consensus Estimate by 13.2% and declined 4.8% from a year ago. Contract revenues increased 3.8% year over year but lagged the consensus mark by 2%. This specialty contracting services provider surpassed earnings estimates in three of the trailing four quarters, with an average of 53.9%. Earnings & Revenue Expectations T ...

When it comes to short-term investing or trading, they say "the trend is your friend." And there's no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done. Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate re ...

PALM BEACH GARDENS, Fla., May 10, 2024 (GLOBE NEWSWIRE) -- Dycom Industries, Inc. (NYSE:DY) will host a conference call to discuss fiscal 2025 first quarter results on Wednesday, May 22, 2024, at 9:00 a.m. Eastern time. 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.vevent.com/register/BI1c2e72a7bcd9487582598a90de01968e. Upon registration, participants ...

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