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Jan 28, 2023
Dycom Q4 2023 Earnings Report
Dycom's Q4 2023 earnings demonstrated strong growth with a 20.5% increase in contract revenues and improved profitability.
Key Takeaways
Dycom Industries reported a strong fourth quarter in fiscal year 2023, with significant growth in contract revenues and Non-GAAP Adjusted EBITDA. Contract revenues increased by 20.5% to $917.5 million, while Non-GAAP Adjusted EBITDA rose to $83.1 million, representing 9.1% of contract revenues. Net income also saw a substantial increase, reaching $24.8 million, or $0.83 per diluted share.
Contract revenues increased by 20.5% to $917.5 million compared to the previous year.
Non-GAAP Adjusted EBITDA was $83.1 million, or 9.1% of contract revenues, compared to $43.3 million in the year-ago period.
Net income reached $24.8 million, or $0.83 per diluted share, a significant increase from $0.8 million, or $0.03 per diluted share, in the previous year.
The company purchased 210,000 shares of its own common stock for $20.2 million during the quarter.
Forward Guidance
The Company expects contract revenues for the quarter ending April 29, 2023 to increase mid- to high-single digit as a percentage of contract revenues as compared to the quarter ended April 30, 2022. Non-GAAP Adjusted EBITDA as a percentage of contract revenues is expected to increase modestly for the quarter ending April 29, 2023 as compared to the quarter ended April 30, 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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