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Jul 29, 2023
Dycom Q2 2024 Earnings Report
Dycom's financial performance increased in the second quarter of fiscal year 2024.
Key Takeaways
Dycom Industries reported a 7.1% increase in contract revenues, reaching $1.042 billion for the quarter ended July 29, 2023. Net income also increased to $60.2 million, or $2.03 per diluted share. Non-GAAP Adjusted EBITDA was $130.8 million, representing 12.6% of contract revenues.
Contract revenues increased by 7.1% year over year, reaching $1.042 billion.
Non-GAAP Adjusted EBITDA was $130.8 million, or 12.6% of contract revenues.
Net income was $60.2 million, or $2.03 per common share diluted.
The company expects organic contract revenues for the next quarter to be in line with the same quarter last year, with an additional $30 million from acquisitions.
Forward Guidance
The Company expects organic contract revenues for the quarter ending October 28, 2023 to be in line with contract revenues for the quarter ended October 29, 2022. In addition, the Company expects approximately $30 million of acquired contract revenues for the quarter ending October 28, 2023. Non-GAAP Adjusted EBITDA as a percentage of contract revenues for the quarter ending October 28, 2023 is expected to increase 50 to 100 basis points as compared to the quarter ended October 29, 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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