Dycom Q1 2021 Earnings Report
Key Takeaways
Dycom Industries reported a decrease in contract revenues to $814.3 million compared to $833.7 million in the same quarter last year. The company experienced a net loss of $32.4 million, or $1.03 per share, compared to a net income of $14.3 million, or $0.45 per share diluted, in the prior year.
Contract revenues totaled $814.3 million, compared to $833.7 million for the quarter ended April 27, 2019.
Organic contract revenues decreased by 1.8% after excluding $4.7 million in storm restoration services revenues from the previous year's quarter.
Net loss was $32.4 million, or a loss of $1.03 per common share, compared to a net income of $14.3 million, or $0.45 per common share diluted, for the quarter ended April 27, 2019.
The company had cash and equivalents of approximately $643.9 million as of April 25, 2020.
Dycom
Dycom
Forward Guidance
Given the significant uncertainty related to the duration and scope of the impact of COVID-19, the Company is not providing detailed financial guidance for the quarter ending July 25, 2020 or subsequent quarters at this time.