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Investing.com - Dycom Industries, Inc. (NYSE:DY) on Wednesday reported a 10.2% increase in first quarter revenue and raised its full-year outlook, sending shares up 6.9% in early trading Wednesday.
The specialty contracting services provider posted revenue of $1.259 billion for the quarter ended April 26, 2025, up from $1.142 billion in the same period last year. Adjusted EBITDA rose 14.9% to $150.4 million, or 11.9% of revenue.
Net income came in at $61.0 million, or $2.09 per diluted share, compared to $62.6 million, or $2.12 per share, in the prior year quarter. The company noted that results included tax benefits of $0.08 per share from share-based awards, down from $0.20 per share last year.
Dycom raised its fiscal 2026 revenue outlook, now expecting $5.290 billion to $5.425 billion, representing growth of 12.5% to 15.4% YoY. This is up from its previous guidance of 10.0% to 13.0% growth.
For the second quarter, Dycom forecasts revenue between $1.38 billion and $1.43 billion, with adjusted EBITDA of $185 million to $200 million.
"Dycom had a strong start to fiscal 2026 with continued progress against our goals, excellent financial and operational performance, and a record backlog," said CEO Dan Peyovich.
The company reported a record backlog of $8.127 billion as of April 26, 2025. During the quarter, Dycom repurchased 200,000 shares for $30.2 million.
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