Dycom Industries, Inc. Reports Strong Third Quarter Results for Fiscal 2026

Dycom Industries, Inc. (NYSE: DY) has announced impressive results for its third quarter, which ended on October 25, 2025. The company reported record revenue and profitability, alongside a robust backlog that underscores its leadership in the telecommunications and digital infrastructure sectors. President and CEO Dan Peyovich expressed confidence in the company's performance, stating, “We delivered an exceptional third quarter... reinforcing our industry leadership and operational discipline.”

This positive momentum has prompted Dycom to increase the midpoint of its full-year revenue outlook, highlighting the strong demand for telecommunications services driven by a surge in fiber builds, escalating data center requirements, and the anticipated rollout of the Broadband Equity, Access, and Deployment (BEAD) program.

Dycom's contract revenues reached $1.452 billion for the third quarter, marking a significant 14.1% increase compared to $1.272 billion in the same quarter last year. Notably, the organic growth rate, which excludes revenues from acquired businesses, was a healthy 7.2%. The contributions from newly acquired businesses added $110.9 million to the quarter’s revenues, a substantial increase from the $21.0 million reported in the previous year.

The company's Non-GAAP Adjusted EBITDA for the quarter rose to $219.4 million, representing 15.1% of contract revenues, compared to $170.7 million or 13.4% of revenues in the prior year. This impressive performance reflects Dycom's operational efficiency and effective cost management.

On a GAAP basis, Dycom reported net income of $106.4 million, equivalent to $3.63 per diluted share, up from $69.8 million or $2.37 per diluted share in the previous year. The Non-GAAP Adjusted Net Income also saw an increase, amounting to $79.2 million, or $2.68 per diluted share, compared to the prior year’s $214.2 million or $7.26 per diluted share.

For the nine months ending October 25, 2025, Dycom's contract revenues increased by 13.0%, totaling $4.088 billion, up from $3.617 billion in the prior year. Organic growth for this period, excluding revenues from acquisitions, was 3.9%. The contributions from acquired businesses amounted to $377.6 million, compared to $47.6 million in the previous year.

The year-to-date Non-GAAP Adjusted EBITDA increased to $575.3 million, or 14.1% of contract revenues, compared to $460.0 million, or 12.7% of revenues in the prior year. GAAP net income for the nine-month period reached $264.9 million, or $9.05 per diluted share, compared to $200.7 million or $6.81 per diluted share for the same period last year.

In light of the company’s strong performance and favorable market conditions, Dycom has revised its fiscal 2026 revenue outlook. The company now anticipates total contract revenues to range between $5.350 billion and $5.425 billion, which signifies a growth rate of 13.8% to 15.4% over the previous year. It is worth noting that fiscal 2026 includes an additional week of operations due to the company’s fiscal calendar.

For the upcoming quarter ending January 31, 2026, Dycom projects contract revenues to be between $1.26 billion and $1.34 billion. The company expects Non-GAAP Adjusted EBITDA to fall within the range of $140 million to $155 million, with diluted earnings per share anticipated to be between $1.30 and $1.65. Furthermore, the Non-GAAP Adjusted Diluted Earnings per Share is projected to be between $1.62 and $1.97.

Starting in the fiscal fourth quarter, Dycom plans to exclude intangible amortization expense from its Non-GAAP Adjusted Earnings per Share calculation, which could further enhance its reported earnings.

Dycom Industries, Inc. continues to demonstrate robust growth and a strong operational performance, positioning itself as a key player in the telecommunications and digital infrastructure market. The company’s strategic focus on expanding its service offerings and leveraging its expertise will be critical as it navigates a rapidly evolving industry landscape. As demand for digital infrastructure escalates, Dycom is well-positioned to deliver substantial value to its shareholders and capitalize on future opportunities.