DY earnings analysis
What we found in DY's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue exceeded consensus
- Revenue was $2.006 billion, $31.1 million above the $1.975 billion consensus estimate, a 1.6% beat.
- 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.
- 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.
- 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.
- 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.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- 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.
- 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.
- 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.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $3.81
What they said about what is next.
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.
The filing reads about the same as the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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