Dycom Industries Inc

Latest Results (20.11.2025):

Dycom Industries, Inc.'s fiscal 2026 third quarter (ended October 25, 2025) delivered record results: contract revenues, GAAP net income and diluted EPS, adjusted EBITDA, and backlog all set new highs, prompting an increase to the midpoint of the company’s full-year revenue outlook.

Revenue & Growth

Record contract revenues of $1.452 billion, up 14.1% year-over-year (organic increase 7.2% after excluding acquired businesses).

Profitability

Record GAAP diluted EPS of $3.63 and GAAP net income of $106.4 million (up 35.4% and 34.4%, respectively, versus Q3 FY2025); Non-GAAP Adjusted EBITDA was a record $219.4 million (15.1% of contract revenues, up from 13.4%).

Cash Flow & Backlog

Strong operating cash flows of $220.0 million and record backlog of $8.2 billion as of October 25, 2025.

Impact of Acquisitions

Contract revenues from acquired businesses totaled $110.9 million in the quarter (vs. $21.0 million prior year); year-to-date acquired revenues were $377.6 million (vs. $47.6 million prior year).

Year-to-Date Performance

For the nine months ended October 25, 2025, contract revenues were $4.088 billion (up 13.0% YoY; organic growth 3.9%); GAAP net income was $264.9 million, or $9.05 per diluted share; Non-GAAP Adjusted EBITDA was $575.3 million (14.1% of revenues).

Fiscal 2026 Outlook

The company raised the midpoint of its fiscal 2026 revenue outlook to a range of $5.350 billion to $5.425 billion (13.8% to 15.4% growth over prior year). FY2026 includes a 53rd week in Q4.

Q4 Fiscal 2026 Guidance

For the quarter ending January 31, 2026, Dycom expects contract revenues of $1.26B–$1.34B, Non-GAAP Adjusted EBITDA $140M–$155M, diluted EPS $1.30–$1.65, and Non-GAAP adjusted diluted EPS $1.62–$1.97.

Non-GAAP Presentation Change

Beginning in Q4 FY2026, the company will exclude intangible amortization expense when calculating Non-GAAP Adjusted EPS.