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Jul 31, 2021
Dycom Q2 2022 Earnings Report
Dycom's second quarter fiscal 2022 results were announced, with a decrease in contract revenues but maintained cash and equivalents.
Key Takeaways
Dycom Industries reported a decrease in contract revenues for the second quarter of fiscal year 2022, alongside a decrease in Non-GAAP Adjusted EBITDA. The company repurchased common shares and maintained a solid cash position.
Contract revenues decreased by 4.4% to $787.6 million compared to the same quarter last year.
Non-GAAP Adjusted EBITDA was $73.8 million, representing 9.4% of contract revenues, down from $102.7 million, or 12.5% of contract revenues, in the prior year quarter.
GAAP net income was $18.2 million, or $0.59 per diluted share, compared to $37.0 million, or $1.15 per diluted share, in the prior year quarter.
The Company repurchased 631,638 common shares for $50.0 million during the quarter.
Forward Guidance
For the quarter ending October 30, 2021, the Company expects contract revenues to be in-line and Non-GAAP Adjusted EBITDA to decrease as a percentage of contract revenues.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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