Zinger Key Points
- Contract revenue rose 9.3% Y/Y to $1.142 billion, beating the $1.093 billion consensus.
- EPS of $2.12 exceeded the street view of $1.51.
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Dycom Industries, Inc. DY shares are trading higher after the company reported its first quarter FY25 results.
Contract revenue increased 9.3% Y/Y to $1.142 billion, beating the consensus of $1.093 billion.
Adjusted EBITDA increased to $130.9 million from $113.5 million a year ago.
EPS of $2.12 surpassed the street view of $1.51.
In the quarter, the company repurchased 210,000 shares for $29.8 million.
Outlook: For the second quarter, Dycom expects organic contract revenues to grow by high-single digits as a percentage of contract revenues and adjusted EBITDA margin to increase 25 to 75 basis points Y/Y.
In addition, the company expects around $70 million of acquired contract revenues for the quarter.
As of April 27, cash and equivalents stood at $26.1 million.
Investors can gain exposure to the stock via First Trust RBA American Industrial Renaissance ETF AIRR and Hilton Small-MidCap Opportunity ETF SMCO.
Price Action: DY shares are up 9.72% at $169.40 premarket at the last check Wednesday.
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