Dycom Beats on Q4 Earnings, Contract Revenues Up Marginally - Analyst Blog

By Zacks Equity Research,

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Leading specialty contracting-services provider, Dycom Industries Inc. ( DY ) recently reported fourth-quarter and fiscal 2014 results.  Quarterly adjusted earnings of 48 cents per share beat the Zacks Consensus Estimate by a penny, while increasing 9.1% from 44 cents earned in the prior-year quarter. The company's adjusted earnings of $1.16 per share for fiscal 2014 also surpassed the Zacks Consensus Estimate by a penny. However, it declined 1.7% year over year.

Dycom Industries Inc - Earnings Surprise | FindTheBest

Including the one-time items, quarterly earnings increased 9.3% year over year to 47 cents a share, whereas for the full year, it rose 10.6% to $1.15 a share.

This Zacks Rank #3 (Hold) stock's quarterly contract revenues inched up 0.7% year over year to $482.1 million, but fell short of the Zacks Consensus Estimate of $487 million. For fiscal 2014, Dycom reported contract revenues of $1,811.6 million, marking a year over year increase of 12.6%. However, the reported figure fell slightly short of the Zacks Consensus Estimate of $1,816 million. On an organic basis, contract revenues for the full year rose 4.7%.

The company reported adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $57.5 million for the quarter, down 1.1% year over year. However, the adjusted EBITDA for full-year 2014 increased 4.8% to $188.4 million.

Other Financial Details

Dycom ended the quarter with cash and cash equivalents of $20.7 million, long-term debt of $446.9 million, and shareholders' equity of $484.9 million.


The company also provided guidance for the first quarter of fiscal 2015. Earnings are expected to be in the range of 45-52 cents per share, while revenues are projected within $490-$510 million.

The Zacks Consensus Estimate for first-quarter 2015 earnings is currently pegged at 55 cents per share. However, it could witness a downward revision in the coming days.

Performance of Other Stocks in the Same Industry

Chicago Bridge & Iron ( CBI ) posted second-quarter 2014 adjusted earnings of $1.36 per share, surpassing the Zacks Consensus Estimate of $1.27 by 7.1%.

EMCOR Group Inc. ( EME ) reported second-quarter results with non-GAAP earnings of 61 cents per share which surpassed the Zacks Consensus Estimate by a penny.

MasTec, Inc. ( MTZ ) reported second-quarter adjusted earnings from continuing operations of 37 cents per share, in line with the Zacks Consensus Estimate.

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DYCOM INDS (DY): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Business , Earnings , Stocks
Referenced Stocks: CBI , EME , MTZ , DY

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