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
0mins
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 fall
9 Analyst Rating
9 Buy
0 Hold
0 Sell
Strong Buy
Current: 417.330
Low
360.00
Averages
409.56
High
510.00
Current: 417.330
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.
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- Conference Call Announcement: Dycom Industries will host a conference call on March 4, 2026, at 9:00 a.m. ET to discuss its fiscal 2026 fourth quarter and annual results, with a press release to be issued earlier that morning for investor analysis.
- Participation Details: Interested parties must register in advance to receive a dial-in number and unique PIN, with a recommendation to join approximately ten minutes early to ensure smooth participation in the Q&A session, enhancing engagement.
- Live Webcast and Replay: The call will feature a live audio webcast along with a slide presentation, and participants can access a replay through the company's Investor Center website, with materials available for approximately 120 days for later review.
- Company Overview: Dycom Industries is a leading provider of specialty contracting services to the telecommunications infrastructure and utility industries in the U.S., offering services such as program management, engineering design, and construction to support telecommunications providers' operations and maintenance.
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- Conference Call Announcement: Dycom Industries will host a conference call on March 4, 2026, at 9:00 a.m. ET to discuss its fiscal 2026 fourth quarter and annual results, with a press release to be issued earlier that morning for investor analysis.
- Participation Details: Interested parties must register in advance to receive a dial-in number and unique PIN, with a recommendation to join approximately ten minutes early to ensure smooth participation in the Q&A session, enhancing engagement.
- Live Webcast and Replay: The call will feature a live audio webcast along with a slide presentation, and participants can access a replay through the company's Investor Center website, with materials available for approximately 120 days for later review.
- Company Overview: Dycom Industries is a leading provider of specialty contracting services to the telecommunications infrastructure and utility industries in the U.S., offering services such as program management, engineering design, and construction to support telecommunications providers' operations and maintenance.
See More
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- Palantir Soars on Earnings: Following the release of strong earnings, Palantir's stock surged, reflecting the company's ongoing growth and profitability in the data analytics sector, which may enhance market expectations for its future performance.
- SpaceX and xAI Merger Confirmed: Elon Musk confirmed the merger between SpaceX and xAI, a strategic move that could strengthen both companies' competitive positions in AI and aerospace, driving technological innovation and market expansion.
- Improving Market Sentiment: With the rebound of major indexes and improved performance of individual stocks, market sentiment is gradually warming, and the optimistic outlook on future economic prospects may encourage more capital to flow into the stock market.
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- Market Rebound: Stocks rebounded following President Trump's announcement to halt tariffs on Greenland, reflecting a renewed optimism in the market that could restore investor confidence and stimulate economic activity.
- Future Deal Framework: The “framework” mentioned by Trump suggests potential future trade agreements, which may positively influence trade relations between the U.S. and other nations, thereby impacting global market dynamics.
- New Buying Opportunities: Google and Eli Lilly emerge as leaders in new buying opportunities, indicating sustained investor confidence in the technology and pharmaceutical sectors, which could drive stock prices higher.
- Improved Market Sentiment: Trump's statement not only alleviates concerns over trade tensions but may also create more investment opportunities for other companies, enhancing overall economic growth expectations.
See More
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- Market Rebound: Stocks rebounded as President Trump announced he would not proceed with tariffs on Greenland, indicating investor optimism about a potential future trade deal, which could stimulate economic recovery.
- New Investment Opportunities: Google and Eli Lilly emerged as leading new buys, reflecting investor confidence in the technology and pharmaceutical sectors, potentially driving stock prices higher.
- Trade Framework Established: Trump's mention of a 'framework' for future agreements lays the groundwork for subsequent trade negotiations, which may improve trade relations between the U.S. and other countries.
- Investor Sentiment Improvement: With reduced uncertainty surrounding tariff policies, investor sentiment has improved, likely leading to increased capital inflows into the stock market, thereby enhancing overall market performance.
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- Market Opportunity: Dycom Industries is poised to significantly benefit from the acceleration of fiber builds through the $29.5 billion Broadband Equity, Access, and Deployment (BEAD) program, particularly in underserved rural areas.
- Funding Allocation: Approximately $26 billion of the BEAD funding is specifically directed toward fiber or HFC infrastructure, directly aligning with Dycom's core capabilities and expected to expand its addressable market.
- Competitive Advantage: With over a decade of experience in large-scale fiber deployment and diversified end-market exposure, Dycom holds an edge over smaller contractors, especially with government incentives driving rural deployments.
- Earnings Outlook: Dycom's earnings estimates for fiscal 2026 and 2027 have been revised upward in the past 60 days, with projected year-over-year growth rates of 26.9% and 35%, indicating strong market demand and growth potential for the company.
See More
Trump Threatens Tariffs on Eight NATO Members Over Greenland Deal
- Escalating Tariff Threat: President Trump has announced plans to impose tariffs on eight NATO members unless a deal is reached for the U.S. to purchase Greenland, which could escalate international trade tensions and undermine global market confidence.
- Market Reaction Uncertainty: The uncertainty surrounding tariff policies may induce panic among investors, leading to increased volatility in stock markets, particularly in sectors that trade heavily with NATO member countries.
- Diplomatic Tensions: This move could exacerbate diplomatic tensions between the U.S. and NATO allies, potentially impacting future military and economic cooperation and posing risks to global security dynamics.
- Economic Impact Assessment: Should tariffs be enacted, they may negatively affect economic growth in both the U.S. and NATO member countries, particularly in nations with high trade dependencies, potentially resulting in economic slowdowns and rising unemployment rates.
See More
