Dycom Inds Inc Stock Price, News & Analysis

Dycom Industries has authorized a $150 million stock repurchase program, aimed at enhancing shareholder value. This program will be executed over the next 18 months through open market purchases or negotiated transactions. As of March 2, 2021, the company had 30,615,908 shares outstanding, not including options and unvested restricted stock. Timing and amounts will depend on market conditions, with no obligation to repurchase a specific quantity of shares. This move reflects confidence in the company’s financial health and future performance.

Dycom Industries reported its fourth quarter results for the fiscal year ended January 30, 2021, showing contract revenues of $750.7 million, up from $737.6 million a year prior.

Despite a 6.2% organic revenue decline, Non-GAAP Adjusted EBITDA improved to 6.1% of revenues. The company reported a net loss of $4.2 million, an improvement from a loss of $11.2 million in the previous year. For the fiscal year, total revenues dropped to $3.199 billion from $3.340 billion. Looking ahead, contract revenues are expected to be stable to slightly lower in the upcoming quarter.

Dycom Industries, Inc. (NYSE: DY) will host a conference call on March 3, 2021, at 9:00 a.m. Eastern time to discuss its fiscal 2021 fourth quarter results. A press release detailing the results will be issued earlier that morning. Interested parties can join the call by dialing (833) 519-1313 in the U.S. or (914) 800-3879 internationally, using conference ID 2407007. A live webcast and related materials will be available on the Company's Investor Center website, with a replay accessible for approximately 120 days post-event.

Dycom Industries, Inc. (NYSE: DY) will participate in the Truist 2020 Industrials and Services Virtual Summit on December 8, 2020. Senior management will present, and presentation materials will be accessible on Dycom's Investor Center website until January 7, 2021. Dycom is a leading provider of specialty contracting services, including program management, planning, and construction for telecommunications and utility companies. For more information, visit dycomind.com.

Dycom Industries, a key player in specialty contracting services in the U.S., announced its participation in the Credit Suisse 8th Annual Virtual Industrials Conference on December 3, 2020. Senior management will share insights, and presentation materials will be available on Dycom's Investor Center website until January 4, 2021. Their services encompass program management, engineering, construction for various utilities, and more. For further details, visit their website at dycomind.com.

Dycom Industries, Inc. (NYSE: DY) will present at the Wells Fargo TMT Summit 2020 on December 2, 2020, at 10:00 a.m. ET. This presentation will take the form of a virtual fireside chat, with senior management participating in additional one-on-one meetings throughout the day. Investors can access a live audio webcast of the chat via the Events and Presentations section on Dycom's Investor Center website. A replay will be available until January 4, 2021.

Dycom provides specialized contracting services, including engineering and construction for telecommunications and utility sectors.

Dycom Industries reported Q3 results for FY2021, with contract revenues of $810.3 million, a 9.4% decline year-over-year. Despite the drop, non-GAAP Adjusted EBITDA increased to $92.8 million, representing 11.5% of revenues. Net income surged to $33.9 million or $1.05 per share, up from $24.2 million and $0.76 per share last year. Year-to-date revenues were $2.449 billion, down 6.1%. A significant goodwill impairment charge of $53.3 million negatively affected GAAP net income. Looking forward, Dycom anticipates lower revenues but stable margins for Q4.

Dycom Industries, Inc. (NYSE: DY) announced it will host a conference call to discuss its fiscal 2021 third-quarter results on November 24, 2020, at 9:00 a.m. Eastern time. A press release detailing the results will be issued earlier that day. Investors can join by dialing (833) 519-1313 for US participants or (914) 800-3879 for international callers, using conference ID 1388665. A live webcast will also be available on the Company's Investor Center website.

Dycom Industries, Inc. (NYSE: DY) announced the appointment of Jennifer Fritzsche as a new director, effective October 27, 2020. Fritzsche, currently the Chief Financial Officer at Canopy Spectrum, LLC, brings extensive experience from her 25-year tenure as a Senior Equity Analyst at Wells Fargo Securities, where she specialized in telecommunications and cable services. The Board approved increasing its membership from seven to eight to accommodate this change. Her term will last until the 2021 Annual Meeting of Shareholders.