Dycom Industries, Inc. Reports Fiscal 2026 Second Quarter Results

Core Insights - Dycom Industries reported record revenue and earnings for the second quarter of fiscal 2026, driven by strong demand for digital infrastructure and effective operational execution [2][10]. Financial Performance - Contract revenues increased by 14.5% to $1.378 billion for the quarter ended July 26, 2025, compared to $1.203 billion for the same quarter last year [4][10]. - On an organic basis, contract revenues rose by 3.4%, excluding revenues from acquired businesses [4][25]. - Non-GAAP Adjusted EBITDA for the quarter was $205.5 million, representing 14.9% of contract revenues, up from $158.3 million or 13.2% of contract revenues in the prior year [5][10]. - Net income on a GAAP basis increased to $97.5 million, or $3.33 per diluted share, compared to $68.4 million, or $2.32 per diluted share, in the prior year [6][10]. Year-to-Date Results - For the six months ended July 26, 2025, contract revenues increased by 12.4% to $2.637 billion compared to $2.345 billion for the same period last year [7][10]. - Non-GAAP Adjusted EBITDA for the six months was $355.9 million, or 13.5% of contract revenues, compared to $289.2 million, or 12.3% of contract revenues, in the prior year [8][10]. - Year-to-date net income was $158.5 million, or $5.42 per diluted share, compared to $131.0 million, or $4.44 per diluted share, in the prior year [9][10]. Outlook - The company expects total contract revenues for fiscal 2026 to range from $5.290 billion to $5.425 billion, indicating a growth of 12.5% to 15.4% over the previous year [12]. - For the third quarter of fiscal 2026, the company anticipates contract revenues between $1.38 billion and $1.43 billion, with Non-GAAP Adjusted EBITDA projected at $198 million to $213 million [13]. Market Position - Dycom is well-positioned to capitalize on the growing demand for digital infrastructure, with a strong backlog of $8.0 billion as of July 26, 2025 [10][3]. - The company emphasizes its ability to meet customer needs through its scale and national reach, aiming to create long-term value for shareholders [3][2].