Dycom Inds Inc Stock Price, News & Analysis

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.

Dycom Industries (NYSE: DY) will present in a virtual format at the D.A. Davidson 19th Annual Diversified Industrials & Services Conference on September 22, 2020, at 10:15 a.m. ET. Senior management will also engage in one-on-one virtual meetings. The event's live audio webcast can be accessed through the Investor Center on Dycom's website, with a replay available until October 22, 2020. Dycom specializes in specialty contracting services for telecommunications providers and utilities across the United States.

Dycom Industries, Inc. (NYSE: DY) announced its participation in the 2020 Morgan Stanley Virtual 8th Annual Laguna Conference on September 16, 2020. Senior management will present, and materials will be available on Dycom's Investor Center website until October 16, 2020. Dycom is a leading provider of specialty contracting services across the U.S., offering program management, engineering, and construction services for telecommunications and utility sectors. For further details, visit dycomind.com.

Dycom Industries, Inc. (NYSE: DY) announced a new $100 million stock repurchase program authorized by its Board of Directors. The repurchases will occur over the next 18 months through open market or privately-negotiated transactions, depending on market conditions. As of August 26, 2020, Dycom has 31,839,247 shares outstanding. This initiative aims to enhance shareholder value, though the company is not obligated to repurchase a specific number of shares and may suspend or discontinue the program at any time.

Dycom Industries, Inc. (NYSE: DY) reported second-quarter results for fiscal 2021, with contract revenues at $823.9 million, down 6.8% year-over-year. Non-GAAP Adjusted EBITDA rose to $102.7 million, or 12.5% of contract revenues, from 10.2% the previous year. GAAP net income increased to $37.0 million ($1.15 per share) versus $29.9 million ($0.94 per share) in the prior year. The company anticipates sequentially lower contract revenues for the next quarter due to COVID-19 uncertainty, with year-to-date contract revenues of $1.638 billion, a 4.4% decrease.

Dycom Industries, Inc. (NYSE: DY) will host a conference call on August 26, 2020, at 9:00 a.m. ET to discuss its fiscal 2021 second quarter results. A press release will precede the call, providing details on earnings and financial performance. Interested participants can access the live webcast on the Company's Investor Center website. For telephone participation, dial (833) 519-1313 (US) or (914) 800-3879 (International), using conference ID 1448697. A replay will be available until September 25, 2020.