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Oct 30, 2021
Dycom Q3 2022 Earnings Report
Dycom's Q3 2022 results were announced, showcasing revenue growth and strategic financial maneuvers.
Key Takeaways
Dycom Industries reported a revenue increase of 5.4% to $854.0 million for the quarter ended October 30, 2021. Net income was $28.7 million, or $0.94 per diluted share, compared to $33.9 million, or $1.05 per diluted share, for the quarter ended October 24, 2020. The company also repaid $58.3 million in convertible senior notes at maturity.
Contract revenues increased to $854.0 million, a 5.4% increase compared to the same period last year.
Net income decreased to $28.7 million, or $0.94 per diluted share, compared to $33.9 million, or $1.05 per diluted share, in the prior year.
Non-GAAP Adjusted EBITDA was $83.1 million, representing 9.7% of contract revenues.
The company successfully repaid $58.3 million in convertible senior notes at maturity.
Forward Guidance
The Company expects contract revenues for the quarter ending January 29, 2022 to increase modestly from Non-GAAP Organic Contract Revenues of $691.8 million for the quarter ended January 30, 2021. Non-GAAP Adjusted EBITDA is expected to range from in-line to modestly higher as a percentage of contract revenues for the quarter ending January 29, 2022 as compared to the quarter ended January 30, 2021.
Positive Outlook
- Contract revenues expected to increase modestly.
- Non-GAAP Adjusted EBITDA expected to range from in-line to modestly higher.
- Strategic financial maneuvers completed.
- Leading provider of specialty contracting services.
- Focus on telecommunications, electric, and gas utilities.
Challenges Ahead
- Subject to risks and uncertainties.
- Impact of a pandemic caused by COVID-19.
- Customer capital budgets and spending priorities.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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