DYCOM INDUSTRIES INC (DY) Earnings History

DYCOM INDUSTRIES INC - Q3 FY2026 Earnings

Filed at: Nov 19, 2025, 7:00 AM EST|Read from source

EXECUTIVE SUMMARY

Dycom Industries reported a strong third quarter with record contract revenues, profitability, and backlog, driven by robust demand in telecommunications and digital infrastructure. The company is increasing its full-year revenue outlook based on this performance and favorable market conditions.

POSITIVE HIGHLIGHTS

  • •

    Record contract revenues of $1.452 billion, up 14.1% year-over-year.

    positive
  • •

    Record GAAP diluted EPS of $3.63, up 35.4% compared to Q3 2025 Non-GAAP Diluted EPS.

    positive
  • •

    Record net income of $106.4 million, up 34.4% compared to Q3 2025 Non-GAAP Net Income.

    positive
  • •

    Record Adjusted EBITDA of $219.4 million, up 28.5% and representing 15.1% of contract revenues.

    positive
  • •

    Strong operating cash flows of $220.0 million.

    positive
  • •

    Record backlog of $8.2 billion as of October 25, 2025.

    positive

CONCERNS & RISKS

  • •

    Organic contract revenues increased 7.2%, significantly lower than the total contract revenue growth of 14.1%, indicating a substantial contribution from acquisitions.

    attention
  • •

    Contract revenues from acquired businesses were $110.9 million for the quarter, a significant increase from $21.0 million in the prior year, highlighting reliance on M&A for growth.

    attention

FINANCIAL METRICS

Revenue
Quarterly
$1.45B
+14.1%
Prior year: $1.27B
Annual (YTD)
$4.09B
N/A
Prior year: $3.62B
Net Income
Quarterly
$106.36M
+52.4%
Prior year: $69.79M
Annual (YTD)
$264.90M
N/A
Prior year: $200.74M
EPS (Diluted)
Quarterly
$3.63
+53.2%
Prior year: $2.37
Annual (YTD)
$9.05
N/A
Prior year: $6.81
Operating Income
Quarterly
N/A
N/A
EPS (Basic)
Quarterly
$3.67
+53.5%
Prior year: $2.39
Annual (YTD)
$9.15
N/A
Prior year: $6.89

MARGIN ANALYSIS

Net Margin
Current Quarter
7.3%
Prior Year
5.5%
YoY Change
+184 bps

Margin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.

MANAGEMENT GUIDANCE

FY 2026

revenue
$5350000.0B—$5425000.0B
Mid-point: $5387500.0B
"Increasing midpoint of revenue outlook, representing 13.8% to 15.4% total growth over prior year. Fiscal 2026 includes 53 weeks."

Q4 FY2026

revenue
$1260000.0B—$1340000.0B
Mid-point: $1300000.0B
non-gaap_adjusted_ebitda
140,000,000—155,000,000
Mid-point: 147,500,000
eps_diluted
$1.30—$1.65
Mid-point: $1.48
non-gaap_adjusted_eps_diluted
$1.62—$1.97
Mid-point: $1.79
"Beginning in Q4 FY2026, will exclude intangible amortization expense."

Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.

MANAGEMENT COMMENTARY

Demand drivers for telecommunications and digital infrastructure are stronger than ever, fueled by fiber builds, data center needs, and BEAD funding.

— DYCOM INDUSTRIES INC, Q3 FY2026 2026 Earnings Call

Dycom's scale, expertise, and customer relationships position it to lead digital infrastructure deployment.

— DYCOM INDUSTRIES INC, Q3 FY2026 2026 Earnings Call

The company is increasing its full-year revenue outlook due to strong performance and favorable demand.

— DYCOM INDUSTRIES INC, Q3 FY2026 2026 Earnings Call

Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.

OPERATIONAL METRICS

Adjusted Ebitda Margin
15.1
Prior year: 13.4
percent

Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.