Dycom Q3 2024 Earnings Report
Key Takeaways
Dycom Industries reported a strong third quarter with a 4.6% increase in organic contract revenues, reaching $1.136 billion. Non-GAAP Adjusted EBITDA improved to $166.8 million, representing 14.7% of contract revenues, and net income rose to $83.7 million, or $2.82 per diluted share.
Contract revenues reached $1.136 billion, demonstrating 4.6% organic growth year-over-year.
Non-GAAP Adjusted EBITDA was $166.8 million, or 14.7% of contract revenues.
Net income amounted to $83.7 million, translating to $2.82 per diluted share.
The impacts of a change order and the closeout of several projects increased contract revenues by $26.5 million.
Dycom
Dycom
Forward Guidance
The Company expects organic contract revenues for the quarter ending January 27, 2024 to be in line with contract revenues for the quarter ended January 28, 2023. In addition, the Company expects approximately $50 million of acquired contract revenues for the quarter ending January 27, 2024. Non-GAAP Adjusted EBITDA as a percentage of contract revenues for the quarter ending January 27, 2024 is expected to increase 75 to 125 basis points as compared to the quarter ended January 28, 2023.