Core Viewpoint - Bornite Capital Management LP has established a new position in Dycom, acquiring 150,000 shares valued at approximately $43.76 million, which now represents 4.1% of the fund's reportable U.S. equity assets [2][6]. Company Overview - Dycom is a leading provider of specialty contracting services to the telecommunications and utility sectors, with nearly $5.0 billion in trailing twelve-month revenue as of July 26, 2025 [5]. - The company specializes in network design, construction, and maintenance, supporting the expansion and modernization of critical infrastructure for large national clients [5][9]. Financial Performance - As of September 30, 2025, Dycom reported a revenue of $4.99 billion and a net income of $260.99 million [3]. - The company's stock price was $282.92 as of November 6, 2025, reflecting a one-year price change of 57.8%, outperforming the S&P 500 by 21.6 percentage points [3][10]. - Dycom's fiscal second quarter ended July 26, 2025, showed record contract revenue of $1.4 billion, up 14.5% year over year, leading to a record net income of $97.5 million, a strong 42.5% year-over-year increase [11]. Growth Prospects - Dycom expects its fiscal 2026 revenue to increase by 12.5% to 15.4% year over year, projecting a range between $5.3 billion to $5.4 billion [12]. - The company is positioned to benefit from over $42 billion in federal funding allocated for broadband expansion in the U.S., which provides a favorable environment for growth [11][12]. - The rise of artificial intelligence is anticipated to lead to upgrades in telecommunications equipment, potentially driving further growth for Dycom in the coming years [12].