Dycom(US:DY)2023-08-29 09:50Financial Performance - Contract revenues reached $1042 billion, a 71% year-over-year increase[5] - Non-GAAP Adjusted EBITDA was $1308 million, representing 126% of contract revenues, compared to 108% in the previous year's quarter[5] - Diluted earnings per common share were $203, compared to $146 in the year-ago quarter[5] - The company maintains strong liquidity of $6859 million[5, 21] Strategic Initiatives - The company acquired Bigham Cable Construction, Inc on August 18, 2023, for $1270 million[5, 21] - A share repurchase program of $150 million was authorized through February 2025[5, 21] Market Dynamics - High-capacity fiber networks are viewed as cost-effective, enabling multiple revenue streams[6] - Fiber network deployment opportunities are increasing in rural America due to federal and state support programs[6, 25] - The industry expects demand to fluctuate among customers, with some increasing deployments into next year and others managing budgets closely[6]