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NEW YORK - Dycom Industries, Inc. (NYSE:DY) reported first quarter earnings that handily beat analyst estimates and raised its full-year revenue outlook on Wednesday.
The specialty contracting services provider saw its shares jump over 11.30% in pre-market trading after the earnings release.
The company reported Q1 adjusted earnings per share of $2.09, surpassing the analyst consensus of $1.65 by $0.44. Revenue for the quarter came in at $1.26 billion, topping expectations of $1.19 billion and representing a 10.2% increase from the same period last year.
Dycom’s strong performance was driven by continued progress on its strategic goals and favorable industry demand. The company’s backlog reached a record $8.13 billion as of April 26, 2025.
"Dycom had a strong start to fiscal 2026 with continued progress against our goals, excellent financial and operational performance, and a record backlog," said Dan Peyovich, Dycom’s President and CEO.
Based on the solid Q1 results and positive outlook, Dycom raised its full year fiscal 2026 revenue guidance. The company now expects total contract revenues to range from $5.29 billion to $5.43 billion, up from its prior forecast of 10-13% growth.
For Q2, Dycom projects revenue between $1.38 billion to $1.43 billion and adjusted EPS of $2.74 to $3.05.
The company also repurchased 200,000 shares for $30.2 million during the first quarter.
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