10-Q · May 28, 2026
Dycom Industries reported a strong first quarter of fiscal 2027 with contract revenues of $1.965 billion, which exceeds expectations of $1.670 billion and marks a remarkable 56% increase from $1.259 billion in the prior…
Earnings analysis · 10-Q
DY earnings analysis
Filed August 27, 2026 · Our reading of the company's report
The latest report
Dycom delivered a $2.006 billion revenue beat and adjusted diluted EPS of $5.29, but GAAP diluted EPS was $3.81 and the quarter included higher amortization expense. Management raised fiscal 2027 contract revenue…
Read full summary
Dycom delivered a $2.006 billion revenue beat and adjusted diluted EPS of $5.29, but GAAP diluted EPS was $3.81 and the quarter included higher amortization expense. Management raised fiscal 2027 contract revenue outlook to $7.48 billion-$7.66 billion, while approximately $150 million of wireless revenue was deferred into fiscal 2028 and Communications margins face pressure. The filing reports no material changes to risk-factor disclosures, but acquisition-control exclusions and a two-year ERP rollout add execution considerations.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $3.81
What stood out
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Revenue exceeded consensus
Revenue was $2.006 billion, $31.1 million above the $1.975 billion consensus estimate, a 1.6% beat.
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Adjusted EPS beat estimates
Adjusted diluted EPS was $5.29 versus the $4.62 consensus estimate, a 14.5% beat. GAAP diluted EPS was $3.81, reflecting the impact of higher amortization expense.
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Contract revenue outlook raised
Fiscal 2027 contract revenue outlook was raised to $7.48 billion-$7.66 billion, indicating an improved quantitative outlook despite near-term wireless timing pressure.
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Acquisition expands capabilities
The company issued $45.0 million of common stock, representing 95,550 shares, as partial consideration for the National Technology Integrators acquisition.
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New buyback authorization
A new $150.0 million share-repurchase authorization was approved on August 26, 2026, replacing the prior authorization's remaining $83.9 million capacity.
What to watch
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Wireless revenue deferral
Approximately $150 million of wireless program revenue was deferred into fiscal 2028, creating timing risk to fiscal 2027 results and contributing to expected Communications margin pressure.
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Acquisition controls not yet assessed
Management excluded National Technology Integrators from its internal-control assessment; the acquisition represented 1.8% of total assets and 0.6% of six-month contract revenues as of August 1, 2026.
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ERP implementation risk
The company is implementing an ERP system in phases over the next two years, increasing execution and financial-reporting implementation risk during the transition.
Management's outlook
Fiscal 2027 contract revenue outlook was raised to $7.48 billion-$7.66 billion. Third-quarter adjusted diluted EPS outlook is $4.33-$4.79. Approximately $150 million of wireless program revenue was deferred into fiscal 2028.
Earlier filings 4
10-K · March 9, 2026
Dycom positions itself to capture digital infrastructure demand by leveraging scale across 38 operating companies and expanding into data center/building infrastructure with the acquisition of Power Solutions (added as…
10-Q · May 22, 2025
Dycom reported Q1 contract revenues of $1,258,608,000 (up $116,185,000 or +10.2% vs. $1,142,423,000 in the prior-year quarter) and diluted EPS of $2.09. Gross margin (as defined by revenue less costs of earned revenues,…
10-K · February 28, 2025
Dycom positions itself as a national specialty contractor for telecommunications and utilities, emphasizing scale (40 operating companies, service across all 50 states) and growth from fiber and wireless network…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.