Dycom Industries Inc

Latest Results (03.04.2026):

Dycom Industries Inc reported results for the fourth quarter of fiscal 2026 (quarter ended January 31, 2026). The quarter closed a record fiscal year: strong revenue growth, margin expansion on a non‑GAAP basis, and robust cash generation, while the company completed the strategic acquisition of Power Solutions and introduced a two‑segment reporting structure (Communications and Building Systems).

Revenue

Q4 contract revenues were $1.458 billion, up 34.4% year‑over‑year (16.6% organic after adjusting for acquisitions and the extra week). Full‑year contract revenues were a record $5.546 billion, up 17.9% (6.5% organic).

Profitability — GAAP vs. Non‑GAAP

GAAP net income in Q4 was $16.3 million ($0.55 diluted), depressed by transaction and acquisition‑related items. Non‑GAAP Adjusted Net Income was $60.5 million ($2.03 diluted). Q4 Non‑GAAP Adjusted EBITDA was $162.4 million (11.1% of contract revenues), a 39.6% increase vs. prior year.

Cash Flow and Liquidity

Operating cash flow in Q4 was $419.0 million and Free Cash Flow was $367.1 million. For the full year, operating cash flow totaled $642.5 million and Free Cash Flow was a record $435.3 million.

Acquisition and Segment Update

Dycom completed the acquisition of Power Solutions on December 23, 2025. Beginning in Q4 fiscal 2026 Dycom reports two segments: Communications (Q4 revenue $1.362B) and Building Systems (Q4 revenue $95.8M). Building Systems (including Power Solutions) contributed $11.1M of Non‑GAAP Adjusted EBITDA in the quarter (11.6% segment margin).

Backlog

Total backlog at quarter end was $9.542 billion (up 23% year‑over‑year), with $6.358 billion of that work expected in the next 12 months.

Outlook — Fiscal 2027 and Q1

Fiscal 2027 guidance: contract revenues of $6.85B–$7.15B (Communications $5.70B–$5.90B; Building Systems $1.15B–$1.25B) with continued Adjusted EBITDA margin expansion. Q1 FY2027 guidance: contract revenues $1.64B–$1.71B, Non‑GAAP Adjusted EBITDA $202M–$218M, and Non‑GAAP Adjusted Diluted EPS (excl. amortization) $2.57–$2.90.

Balance Sheet / Notable Items

Balance sheet changes reflect the acquisition: cash and equivalents rose to $709.2M and goodwill/intangibles increased to $2.369B at Jan 31, 2026. Long‑term debt increased to $2.810B; total stockholders’ equity was $1.859B. Q4 included a ~$7.3M loss on debt extinguishment and acquisition/integration costs (~$18.8M) excluded from non‑GAAP measures.