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Apr 29, 2023
Dycom Q1 2024 Earnings Report
Dycom's first quarter of fiscal year 2024 resulted in revenue growth and increased profitability.
Key Takeaways
Dycom Industries, Inc. announced its first quarter results for fiscal year 2024. Contract revenues increased by 19.3% to $1.045 billion compared to the year-ago period. Net income was $51.5 million, or $1.73 per diluted share, compared to $19.5 million, or $0.65 per diluted share, in the year-ago period.
Contract revenues reached $1.045 billion, reflecting a 19.3% increase.
Non-GAAP Adjusted EBITDA was $113.5 million, representing 10.9% of contract revenue.
Net income amounted to $51.5 million, or $1.73 per diluted common share.
The company repurchased 225,000 common shares for $20.3 million during the quarter.
Forward Guidance
The Company expects contract revenues for the quarter ending July 29, 2023 to increase mid-single digit as a percentage of contract revenues as compared to the quarter ended July 30, 2022. Non-GAAP Adjusted EBITDA as a percentage of contract revenues for the quarter ending July 29, 2023 is expected to increase 50 to 100 basis points as compared to the quarter ended July 30, 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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