Dycom Industries, Inc. Reports Fiscal 2026 First Quarter Results and Increases Annual Outlook

Core Insights - Dycom Industries, Inc. reported strong financial performance in the first quarter of fiscal 2026, with a 10.2% increase in contract revenues compared to the same quarter in the previous year, reaching $1.259 billion [3][4][9] - The company has increased its full-year fiscal 2026 contract revenue outlook, now expecting revenues between $5.290 billion and $5.425 billion, indicating a growth of 12.5% to 15.4% over the prior year [6][8] - A record backlog of $8.127 billion was reported as of April 26, 2025, reflecting the company's strong market position and demand outlook [9] Financial Performance - Contract revenues for the quarter ended April 26, 2025, were $1.259 billion, up from $1.142 billion in the same quarter last year, marking a 10.2% increase [3][19] - Non-GAAP Adjusted EBITDA rose to $150.4 million, representing 11.9% of contract revenues, compared to $130.9 million or 11.5% in the prior year [4][22] - Net income for the quarter was $61.0 million, or $2.09 per diluted share, slightly down from $62.6 million, or $2.12 per diluted share, in the previous year [4][19] Share Repurchase and Outlook - During the first quarter, the company repurchased 200,000 shares for $30.2 million at an average price of $150.93 per share [5][9] - For the second quarter of fiscal 2026, Dycom expects contract revenues between $1.38 billion and $1.43 billion, with Non-GAAP Adjusted EBITDA projected at $185 million to $200 million [8][9]