- Dycom Industries (DY +20.8%) soars after FQ3 earnings and revenues beat expectations, continuing its streak of higher sales since 2010 and offering upbeat guidance.
- In February, DY had projected FQ3 EPS to come in below the previous year's $0.28 while revenue was seen at $390M-$415M; the actual results were $0.58 EPS on $492M in revenue.
- DY's contract revenue for the quarter jumped 48% Y/Y and 6.2% Q/Q to $437.4M, but gross margin narrowed to 3.9% from 4.1% as total costs increased 48%.
- DY sees FQ4 EPS of $0.74-$0.82 vs. $0.58 analyst consensus estimate and revenues of $550M-$570M vs. $522M consensus.