Dycom Industries (DY) Tops Q3 EPS by 16c, Revenues Beat; Offers Q4 EPS/Revenue Guidance Below Consensus

Dycom Industries (NYSE: DY) reported Q3 EPS of $0.88, $0.16 better than the analyst estimate of $0.72. Revenue for the quarter came in at $884.1 million versus the consensus estimate of $849.9 million.

• Contract revenues of $884.1 million for the quarter ended October 26, 2019, compared to $848.2 million for the quarter ended October 27, 2018. Contract revenues for the quarter ended October 26, 2019 increased 4.7% on an organic basis after excluding $3.9 million in contract revenues from storm restoration services for the quarter ended October 27, 2018.
• Non-GAAP Adjusted EBITDA of $91.7 million, or 10.4% of contract revenues, for the quarter ended October 26, 2019, compared to Non-GAAP Adjusted EBITDA of $98.6 million, or 11.6% of contract revenues, for the quarter ended October 27, 2018.
• On a GAAP basis, net income was $24.2 million, or $0.76 per common share diluted, for the quarter ended October 26, 2019, compared to net income of $27.8 million, or $0.87 per common share diluted, for the quarter ended October 27, 2018. Non-GAAP Adjusted Net Income was $28.1 million, or $0.88 per common share diluted, for the quarter ended October 26, 2019, compared to Non-GAAP Adjusted Net Income of $31.3 million, or $0.98 per common share diluted, for the quarter ended October 27, 2018.

GUIDANCE:

Dycom Industries sees Q4 2020 EPS of ($0.15)-$0.02, versus the consensus of $0.10. Dycom Industries sees Q4 2020 revenue of $700-740 million, versus the consensus of $747.28 million.

• The Company also announced its outlook for the fiscal quarter ending January 25, 2020. The Company currently expects total contract revenues for the fiscal quarter ending January 25, 2020 to range from $700 million to $740 million.
• On a GAAP basis, diluted loss per common share for the fiscal quarter ending January 25, 2020 is expected to range from $(0.27) to $(0.10) and Non-GAAP Adjusted Diluted Earnings (Loss) per Common Share is expected to range from $(0.15) to $0.02

For earnings history and earnings-related data on Dycom Industries (DY) click here.

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