Dycom stock rises 13% as FQ1 revenue soars Y/Y

May 25, 2022 11:13 AM ETDycom Industries, Inc. (DY)By: Ravikash, SA News Editor

Rolled newspaper with the headline Quarterly Results

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  • Dycom Industries (NYSE:DY) stock rose ~13% on May 25 after FQ1 results beat analysts' estimates.
  • Contract revenues grew +20.45% Y/Y to $876.3M.
  • Non-GAAP adjusted EBITDA rose +44.56% to $63.72M.
  • Q1 non-GAAP adjusted net loss was $1.2M, or -$0.04 per share.
  • GAAP net income increased to $19.5M, compared to $0.9M in Q1 2021.
  • Outlook:
  • Dycom expects contract revenues for the quarter ending July 30, to increase mid-teens to 20% as a percentage of contract revenues, as compared to the same period a year ago.
  • The company noted that non-GAAP adjusted EBITDA as a percentage of contract revenues is expected to range from in-line to modestly higher for FQ2, compared to the same period a year ago.

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