Dycom Industries Announces Fiscal 2021 2Q Results

  • Dycom

PALM BEACH GARDENS, FL — Dycom Industries, a provider of specialty contract services for telecommunications providers, announced its results for the second quarter and six months ended July 25, 2020.

Second Quarter Fiscal 2021 Highlights

  • Contract revenues of $823.9 million for the quarter ended July 25, 2020, compared to $884.2 million for the quarter ended July 27, 2019, a decrease of 6.8% on an organic basis.

Year-to-Date Fiscal 2021 Highlights

  • Contract revenues of $1.638 billion for the six months ended July 25, 2020, compared to $1.718 billion for the six months ended July 27, 2019. Contract revenues for the six months ended July 25, 2020 decreased 4.4% on an organic basis after excluding $4.7 million in contract revenues from storm restoration services for the six months ended July 27, 2019.

Outlook

The Company continues to closely monitor the impact of the COVID-19 pandemic on all aspects of its business. Based on current conditions, the Company anticipates contract revenues and margins to range from in-line to modestly lower on a sequential basis for the quarter ending October 24, 2020, as compared to the quarter ended July 25, 2020. The Company believes the impact of the COVID-19 pandemic on its operating results, cash flows and financial condition is uncertain, unpredictable and may be outside of its control.

 

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