Dycom Industries, Inc. Reports Fiscal 2026 Third Quarter Results

Core Insights - Dycom Industries, Inc. reported record revenue, profitability, and backlog for the third quarter of fiscal 2026, leading to an increase in the midpoint of its full-year revenue outlook [2][11]. Financial Performance - Contract revenues for the third quarter increased by 14.1% to $1.452 billion compared to $1.272 billion in the same quarter of the previous year, with organic growth of 7.2% after excluding revenues from acquired businesses [4][26]. - Non-GAAP Adjusted EBITDA rose to $219.4 million, representing 15.1% of contract revenues, compared to $170.7 million or 13.4% of contract revenues in the prior year [5][27]. - GAAP net income increased to $106.4 million, or $3.63 per diluted share, compared to $69.8 million, or $2.37 per diluted share, in the prior year [6][28]. Year-to-Date Results - For the nine months ended October 25, 2025, contract revenues increased by 13.0% to $4.088 billion, with organic growth of 3.9% [7][26]. - Non-GAAP Adjusted EBITDA for the nine months was $575.3 million, or 14.1% of contract revenues, compared to $460.0 million, or 12.7% of contract revenues, in the prior year [8][27]. - GAAP net income for the nine months was $264.9 million, or $9.05 per diluted share, compared to $200.7 million, or $6.81 per diluted share, in the prior year [9][28]. Outlook - The company expects total contract revenues for fiscal 2026 to range from $5.350 billion to $5.425 billion, indicating a growth of 13.8% to 15.4% over the prior year [12]. - For the fourth quarter ending January 31, 2026, the company anticipates contract revenues between $1.26 billion and $1.34 billion, with Non-GAAP Adjusted EBITDA expected to be between $140 million and $155 million [13].