Mon, Nov. 23, 4:15 PM
Tue, Sep. 8, 6:56 PM
- With its big customers awash in $1.5B in federal funds (for the first year) to build rural broadband, network builder Dycom (DY +5%) stands to see revenue gains on the way as construction starts in earnest.
- AT&T, CenturyLink, Verizon, Windstream and Frontier are accepting that total in phase two of Connect America Fund monies, funds with strings attached to spread broadband Internet to harder-to-reach rural areas. AT&T and CenturyLink combined for more than $933M of that -- some large chunk of which should outsource to Dycom as the projects begin, Sean Buckley notes.
- The impact is likely to be felt in 2016 as companies pursue the goal of bringing 10 Mbps down / 1 Mbps upstream speeds to target parts of their footprints.
- Many of the grants will hit locations Dycom already serves, Wells Fargo notes: "We estimate that $676MM of the $1.5B in accepted grants will be in states where DY has a current construction agreement in place with an existing customer," writes Jennifer Fritzsche. "Furthermore, DY recently announced 2 acquisitions it stated would expand its footprint among the CAF 2 recipients, making the potential opportunity even larger."
- Meanwhile, shares have fallen 1.7% after hours as the company announces plans to offer $400M in convertible senior notes via private placement. Dycom has authorized up to $75M in buybacks in connection with the notes offering.
Tue, Aug. 25, 5:40 PM
Tue, Aug. 25, 4:46 PM
- Specialty contracting firm Dycom (NYSE:DY) is zooming in aftermarket trading, +9.5%, after beating fiscal Q4 expectations soundly on top and bottom lines and guiding to the high side of consensus for Q1, with the help of acquisitions.
- Contract revenues grew 20% and 18.2% on an organic basis. Total revenues from acquired businesses were $11.8M, of the total revenue of $578.5M.
- Adjusted EBITDA was $88.5M (up 54%), beating an expected $79.7M.
- Dycom is guiding to Q1 revenue of $615M-$635M, well ahead of an expected $567.6M, and diluted EPS of $0.96-$1.04 vs. expectations of $0.76.
- Conference call to come tomorrow at 9 a.m. ET.
- Press Release
Wed, May 20, 12:45 PM
Wed, May 20, 11:58 AM
- 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.
Nov. 25, 2014, 12:45 PM
Nov. 12, 2014, 5:36 PM
Nov. 10, 2014, 12:59 PM
Aug. 28, 2013, 4:07 PM
Aug. 28, 2013, 11:57 AM
- Dycom Industries (DY -8.5%) falls after reporting FQ4 results Tuesday evening.
- Organic contract growth for the period was 7.5%, while total revenue (includes businesses acquired) came in ahead of the Street and ahead of the high end of company guidance.
- Q1 2014 outlook: EPS of $0.42-0.49 on revenue of $475-495M against consensus of $0.47/ share on $471.5M in revenue. (PR)
- See also: DY announces new buyback plan
May 22, 2013, 8:13 AMDycom Industries (DY) looks set to be one of today's big winners after its FQ3 earnings and sales beat expectations Tuesday evening. Contract revenues rose 47.7% Y/Y during the quarter although net income was down from the year ago period. The company guided ahead of the Street's estimates for FQ4 saying it sees EPS of $0.40-0.47 on revenue of $455-475M against consensus of $0.38/share on sales of $441M. Shares +22.5% premarket. (PR) | May 22, 2013, 8:13 AM | Comment!
May 21, 2013, 6:00 PM
Nov. 20, 2012, 11:27 AMDycom Industries (DY +9.2%) moves up today after its FQ2 beat estimates across the board late yesterday. Net actually fell 8.5% however, as margins weakened amid soft capital spending trends in the telecom sector. Separately, the telecommunications contractor announced plans to buy assets of Quanta Services (PWR -0.5%) for around $275M in cash, in a deal that DY says will strengthen it's customer base, geographic scope and technical service offerings. | Nov. 20, 2012, 11:27 AM | Comment!
Aug. 29, 2012, 9:10 AM
Aug. 28, 2012, 5:17 PM
Dycom Industries Inc provides specialty contracting services throughout the United States and in Canada. Its services includes engineering, construction, maintenance and installation services to telecommunications providers.
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