Dycom Q3 2021 Earnings Report
Key Takeaways
Dycom Industries reported a decrease in contract revenues for the third quarter of fiscal year 2021, but experienced an increase in Non-GAAP Adjusted EBITDA and net income compared to the same period last year. The company also reduced its notional net debt during the quarter.
Contract revenues decreased by 9.4% to $810.3 million compared to the quarter ended October 26, 2019.
Non-GAAP Adjusted EBITDA increased to $92.8 million, representing 11.5% of contract revenues.
GAAP net income increased to $33.9 million, or $1.05 per diluted common share.
Notional net debt was reduced by $110.1 million during the quarter.
Dycom
Dycom
Forward Guidance
For the quarter ending January 30, 2021, Dycom expects modestly lower contract revenues with margins that range from in-line to modestly higher, as compared to the quarter ended January 25, 2020.
Challenges Ahead
- The Company believes the impact of the COVID-19 pandemic on its operating results, cash flows and financial condition is uncertain, unpredictable and could affect its ability to achieve these expected financial results.