Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Akanksha Bakshi

Dycom Industries Shares Surge On Q1 Earnings Beat

  • Dycom Industries, Inc. (NYSE:DY) reported a first-quarter FY23 contract revenue growth of 20.5% year-over-year to $876.3 million, up 21.1% organically, beating the consensus of $779.5 million.
  • EPS improved to $0.65 from $0.03 in 1Q22.
  • Adjusted EBITDA improved by 44.6% Y/Y to $63.72 million, and margin expanded by 121 bps to 7.3%.
  • The company repurchased 0.20 million common shares for $18.5 million at an average price of $92.70 per share during Q1.
  • Dycom had cash and equivalents of $185.6 million as of April 30, 2022.
  • 2Q23 Outlook: Dycom expects contract revenues to increase mid-teens to 20% Y/Y.
  • It expects Non-GAAP Adjusted EBITDA as a percentage of contract revenues to range from in-line to modestly higher.
  • Price Action: DY shares are trading higher by 14.5% at $91.82 on the last check Wednesday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.