Dycom Industries Inc

Latest Results (05.01.2026):

Dycom Industries, Inc. — Fiscal 2026 third quarter (ended October 25, 2025): the company reported record contract revenues of $1.452 billion (up 14.1% year-over-year; organic +7.2%), GAAP net income of $106.4 million and GAAP diluted EPS of $3.63 (up ~35%), Non-GAAP Adjusted EBITDA of $219.4 million (15.1% of contract revenues, up 28.5%), strong operating cash flow of $220.0 million, and a record backlog of $8.2 billion. Management raised the midpoint of its fiscal 2026 revenue outlook and provided Q4 guidance reflecting a 53-week fiscal year.

Revenue

Contract revenues were a record $1.452 billion for Q3 FY2026 (+14.1% vs Q3 FY2025). On an organic basis (excluding revenues from recent acquisitions of $110.9 million this quarter), contract revenues increased 7.2%. Year‑to‑date contract revenues were $4.088 billion (+13.0% YoY; organic +3.9%).

Profitability

GAAP net income for the quarter was $106.4 million and GAAP diluted EPS was $3.63. Non‑GAAP Adjusted EBITDA was $219.4 million (15.1% margin), up 28.5% versus the prior-year quarter.

Cash Flow & Backlog

Operating cash flow was strong at $220.0 million for the quarter, and backlog reached a record $8.2 billion as of October 25, 2025, supporting sustained demand visibility for future work.

Outlook

Dycom increased the midpoint of its FY2026 revenue outlook to a range of $5.350 billion to $5.425 billion (13.8%–15.4% growth). Q4 FY2026 guidance: contract revenues $1.26B–$1.34B; Non‑GAAP Adjusted EBITDA $140M–$155M; diluted EPS $1.30–$1.65; Non‑GAAP adjusted diluted EPS $1.62–$1.97. The company noted FY2026 includes a 53rd week (seasonally slower Q4).

Balance Sheet & Liquidity

Cash and equivalents were $110.1 million and accounts receivable were $1.587 billion at quarter end. Current portion of debt was $20.0 million and long‑term debt was $919.5 million (approx. $939.5M total principal outstanding), with total stockholders’ equity of $1.483 billion.

Non‑GAAP Adjustments

Non‑GAAP measures exclude items such as gain on sale of fixed assets, stock‑based compensation, and certain acquisition integration costs. Beginning in Q4 FY2026, the company will also exclude intangible amortization from its Non‑GAAP adjusted earnings per share calculation.