Dycom Industries announces varied Q3 performance; begins Q4 guidance and revises full-year forecast
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 19 2025
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Should l Buy DY?
Source: SeekingAlpha
Q3 Financial Performance: Dycom Industries reported a Q3 Non-GAAP EPS of $2.68, missing expectations by $0.53, while revenue reached $1.45 billion, exceeding estimates by $40 million and reflecting a 14.2% year-over-year increase.
Record Financial Metrics: The company achieved a record Adjusted EBITDA of $219.4 million, up 28.5%, and strong operating cash flows of $220 million, alongside a record backlog of $8.2 billion as of October 25, 2025.
Fiscal 2026 Revenue Outlook: Dycom is increasing the midpoint of its fiscal 2026 revenue outlook to a range of $5.350 billion to $5.425 billion, indicating a growth of 13.8% to 15.4% over the previous year, with an additional operational week due to the fiscal calendar.
Fourth Quarter Projections: For the quarter ending January 31, 2026, the company anticipates contract revenues between $1.26 billion and $1.34 billion, with Non-GAAP Adjusted EBITDA expected to be between $140 million and $155 million, and diluted earnings per share projected at $1.30 to $1.65.
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Analyst Views on DY
Wall Street analysts forecast DY stock price to rise
9 Analyst Rating
9 Buy
0 Hold
0 Sell
Strong Buy
Current: 403.490
Low
360.00
Averages
409.56
High
510.00
Current: 403.490
Low
360.00
Averages
409.56
High
510.00
About DY
Dycom Industries, Inc. is a provider of specialty contracting services to the telecommunications infrastructure and utility industries throughout the United States. These services include program management, planning, engineering and design; aerial, underground, and wireless construction; maintenance; and fulfillment services for telecommunications providers. The Company also provides electrical contracting services for data centers and other vital industries, underground facility locating services for various utilities, including telecommunications providers, as well as other construction and maintenance services for electric and gas utilities. The Company provides engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems that extend from the telephone company hub location, or cable operator headend, to a consumer’s home or business.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
DYCOM STOCK INCREASES 1.4% FOLLOWING STRONG Q4 REVENUE REPORT
Stock Performance: DYC shares have increased by 1.4% following a strong performance in the fourth quarter.
Revenue Growth: The rise in stock price is attributed to higher revenue reported for Q4.
See More
Dycom Industries to Announce Q4 Earnings on March 4
- Earnings Announcement: Dycom Industries is set to announce its Q4 earnings on March 4 before market open, with a consensus EPS estimate of $1.78, reflecting a significant 52.1% year-over-year increase, indicating strong profitability.
- Strong Revenue Expectations: The revenue for Q4 is projected to reach $1.35 billion, representing a 25.0% year-over-year growth, showcasing the company's robust performance and ongoing growth potential in the market.
- Historical Performance Review: Over the past two years, Dycom has beaten EPS and revenue estimates 75% of the time, demonstrating stability in financial performance and building market confidence.
- Forecast Revision Trends: In the last three months, EPS estimates have seen four upward revisions and one downward, while revenue estimates have experienced six upward revisions with no downward adjustments, reflecting analysts' optimistic outlook on the company's future performance.
See More
Dycom Industries Reports Record Q4 Results and Strong 2027 Outlook
- Significant Revenue Growth: Dycom Industries (DY) reported a 34.4% year-over-year increase in contract revenues to $1.46 billion for Q4, surpassing Wall Street's expectation of $1.35 billion, indicating strong market performance and growth potential.
- Improved Profitability: Adjusted earnings per share reached $2.03, exceeding market expectations of $1.78, although net income fell to $16.3 million year-over-year; however, adjusted EBITDA rose to $162.4 million, reflecting enhanced profitability.
- Cash Flow and Backlog Growth: Operating cash flow was $419 million and free cash flow was $367.1 million, with total backlog increasing from $7.76 billion to $9.54 billion year-over-year, demonstrating strong future growth potential and market demand.
- Strategic Acquisition and Outlook: Dycom completed the acquisition of Power Solutions on December 23, expanding into electrical infrastructure, and forecasts contract revenues of $6.85 billion to $7.15 billion for fiscal 2027, showcasing confidence in future growth.
See More
Stock Index Futures Rise Amid Middle East Developments
- CoreWeave Partnership: AI search firm Perplexity has signed a deal with cloud computing company CoreWeave to utilize its data centers for new AI services, resulting in a 5.80% premarket gain, aimed at diversifying its customer base and enhancing market competitiveness.
- Novo Nordisk Regulatory Warning: Despite the FDA warning Novo Nordisk for “false or misleading” claims in its Ozempic advertisement, the stock rose 3.14% in premarket trading, indicating market confidence in its long-term prospects.
- Meta AI Organization Formation: Meta's stock increased by 0.61% in premarket trading as it plans to establish a new applied AI engineering organization to bolster its superintelligence capabilities, partnering with its Superintelligence Lab to accelerate model optimization and enhance technological competitiveness.
- Dycom Strong Earnings: Dycom Industries saw a 6.1% rise in premarket trading after reporting record fiscal fourth-quarter results and projecting fiscal 2027 contract revenues of $6.85 billion to $7.15 billion, exceeding market expectations and reflecting strong growth and margin expansion potential.
See More
Dycom Industries Reports Decline in Q4 Earnings
- Earnings Decline: Dycom Industries reported a net income of $16.29 million for Q4, translating to $0.55 per share, which is a significant drop from last year's $32.67 million and $1.11 per share, indicating pressure on profitability.
- Adjusted Earnings Performance: Excluding special items, Dycom's adjusted earnings were $60.49 million, or $2.03 per share, demonstrating resilience in core operations despite the overall earnings decline.
- Revenue Growth: The company experienced a 34.4% year-over-year revenue increase to $1.457 billion, up from $1.084 billion last year, indicating strong market demand even though profitability did not keep pace with revenue growth.
- Future Guidance: Dycom's guidance for the next quarter projects EPS between $1.64 and $1.71, with revenue expectations ranging from $2.57 billion to $2.90 billion, reflecting a cautiously optimistic outlook for future performance despite current earnings challenges.
See More
Dycom Shares Rise Following Earnings Report; Data Center Demand Surges Significantly.
- Stock Performance: Dycom Industries' stock experienced an increase early Wednesday following the release of its fiscal fourth-quarter results.
- Earnings Report: The company reported better-than-expected earnings for the quarter, contributing to positive investor sentiment.
- Future Outlook: Dycom provided strong guidance for the upcoming year, indicating confidence in continued growth.
- Market Reaction: The combination of solid earnings and optimistic forecasts led to a favorable market reaction for Dycom Industries.
See More
DYCOM STOCK INCREASES 1.4% FOLLOWING STRONG Q4 REVENUE REPORT
Stock Performance: DYC shares have increased by 1.4% following a strong performance in the fourth quarter.
Revenue Growth: The rise in stock price is attributed to higher revenue reported for Q4.
See More
Dycom Industries to Announce Q4 Earnings on March 4
- Earnings Announcement: Dycom Industries is set to announce its Q4 earnings on March 4 before market open, with a consensus EPS estimate of $1.78, reflecting a significant 52.1% year-over-year increase, indicating strong profitability.
- Strong Revenue Expectations: The revenue for Q4 is projected to reach $1.35 billion, representing a 25.0% year-over-year growth, showcasing the company's robust performance and ongoing growth potential in the market.
- Historical Performance Review: Over the past two years, Dycom has beaten EPS and revenue estimates 75% of the time, demonstrating stability in financial performance and building market confidence.
- Forecast Revision Trends: In the last three months, EPS estimates have seen four upward revisions and one downward, while revenue estimates have experienced six upward revisions with no downward adjustments, reflecting analysts' optimistic outlook on the company's future performance.
See More
Dycom Industries Reports Record Q4 Results and Strong 2027 Outlook
- Significant Revenue Growth: Dycom Industries (DY) reported a 34.4% year-over-year increase in contract revenues to $1.46 billion for Q4, surpassing Wall Street's expectation of $1.35 billion, indicating strong market performance and growth potential.
- Improved Profitability: Adjusted earnings per share reached $2.03, exceeding market expectations of $1.78, although net income fell to $16.3 million year-over-year; however, adjusted EBITDA rose to $162.4 million, reflecting enhanced profitability.
- Cash Flow and Backlog Growth: Operating cash flow was $419 million and free cash flow was $367.1 million, with total backlog increasing from $7.76 billion to $9.54 billion year-over-year, demonstrating strong future growth potential and market demand.
- Strategic Acquisition and Outlook: Dycom completed the acquisition of Power Solutions on December 23, expanding into electrical infrastructure, and forecasts contract revenues of $6.85 billion to $7.15 billion for fiscal 2027, showcasing confidence in future growth.
See More
Stock Index Futures Rise Amid Middle East Developments
- CoreWeave Partnership: AI search firm Perplexity has signed a deal with cloud computing company CoreWeave to utilize its data centers for new AI services, resulting in a 5.80% premarket gain, aimed at diversifying its customer base and enhancing market competitiveness.
- Novo Nordisk Regulatory Warning: Despite the FDA warning Novo Nordisk for “false or misleading” claims in its Ozempic advertisement, the stock rose 3.14% in premarket trading, indicating market confidence in its long-term prospects.
- Meta AI Organization Formation: Meta's stock increased by 0.61% in premarket trading as it plans to establish a new applied AI engineering organization to bolster its superintelligence capabilities, partnering with its Superintelligence Lab to accelerate model optimization and enhance technological competitiveness.
- Dycom Strong Earnings: Dycom Industries saw a 6.1% rise in premarket trading after reporting record fiscal fourth-quarter results and projecting fiscal 2027 contract revenues of $6.85 billion to $7.15 billion, exceeding market expectations and reflecting strong growth and margin expansion potential.
See More
Dycom Industries Reports Decline in Q4 Earnings
- Earnings Decline: Dycom Industries reported a net income of $16.29 million for Q4, translating to $0.55 per share, which is a significant drop from last year's $32.67 million and $1.11 per share, indicating pressure on profitability.
- Adjusted Earnings Performance: Excluding special items, Dycom's adjusted earnings were $60.49 million, or $2.03 per share, demonstrating resilience in core operations despite the overall earnings decline.
- Revenue Growth: The company experienced a 34.4% year-over-year revenue increase to $1.457 billion, up from $1.084 billion last year, indicating strong market demand even though profitability did not keep pace with revenue growth.
- Future Guidance: Dycom's guidance for the next quarter projects EPS between $1.64 and $1.71, with revenue expectations ranging from $2.57 billion to $2.90 billion, reflecting a cautiously optimistic outlook for future performance despite current earnings challenges.
See More
Dycom Shares Rise Following Earnings Report; Data Center Demand Surges Significantly.
- Stock Performance: Dycom Industries' stock experienced an increase early Wednesday following the release of its fiscal fourth-quarter results.
- Earnings Report: The company reported better-than-expected earnings for the quarter, contributing to positive investor sentiment.
- Future Outlook: Dycom provided strong guidance for the upcoming year, indicating confidence in continued growth.
- Market Reaction: The combination of solid earnings and optimistic forecasts led to a favorable market reaction for Dycom Industries.
See More
