Dycom Industries, Inc. · NYSE:DY
Dycom Industries — Q3 2024 Earnings Presentation
14 slides from Dycom Industries's earnings presentation, Nov 21, 2023
Slide 1: Q3 Fiscal 2024 Results
Q3 Fiscal 2024 Results November 21, 2023
Slide 2: Participants and Agenda
Participants and Agenda Steven E. Nielsen President and Chief Executive Officer H. Andrew DeFerrari Chief Financial Officer Ryan F. Urness General Counsel • Q3 2024 Overview • Industry Update • Financial & Operational Highlights • Outlook • Closing Remarks • Q&A 2
Slide 3: Important Information
Important Information Caution Concerning Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the 1995 Private Securities Litigation Reform Act. These forward-looking statements include those related to the outlook for the quarter ending January 27,
Slide 4: Q3 2024 Overview
Q3 2024 Overview Financial Highlights • Contract revenues of $1.136 billion increased 9.0% year over year; On Contract an organic basis, contract revenues increased 4.6% year over year after Revenues excluding $45.2 million of contract revenues from an acquired business • Non-GAAP Adjusted EBITDA of
Slide 5: Industry Update
Industry Update The effort to deploy high-capacity fiber networks continues to meaningfully broaden the set of opportunities for our industry • Major industry participants are constructing or upgrading significant wireline networks across broad sections of the country • High-capacity fiber networks
Slide 6: Contract Revenues
Contract Revenues Non-GAAP Organic Growth %1 Top 5 Customers - % of Total Contract Revenues Q3 2023 Q3 2024 Q3 2024 Organic Growth: Total Top 5 All Other Customers Customers4 Customers2 4.6% (8.8)% 29.8% Top 5 customers represented 54.4% and 66.5% of contract revenues in Q3 2024 and Q3 2023, respect
Slide 7: Backlog, Awards and Employees
Backlog, Awards and Employees Backlog5 Employee Headcount Selected Q3 2024 Customer Description of Services Area Term Awards and Extensions: AT&T Construction & Maintenance WI, KY, TN, AL, NC, SC, GA 3 Frontier Fiber Construction OH 2 Charter Construction CA, OH, NY 2 Various Rural Fiber Constructio
Slide 8: Financial Highlights
Financial Highlights Contract Revenues Non-GAAP Adjusted EBITDA Diluted EPS 11.0% 14.7% Non-GAAP Adjusted EBITDA % of Contract Revenues • Contract revenues of $1.136 billion increased 4.6% year over year on an organic basis • Non-GAAP Adjusted EBITDA of $166.8 million, or 14.7% of contract revenues
Slide 9: Debt and Liquidity Overview
Debt and Liquidity Overview Debt Summary Q2 2024 Q3 2024 $ Millions 4.50% Senior Notes, mature April 2029 $ 500.0 $ 500.0 6 Senior Credit Facility, matures April 2026: Debt maturity profile and Term Loan Facility 323.8 319.4 liquidity provide financial Revolving Facility - 154.0 Total Notional Amoun
Slide 10: Cash Flow Overview
Cash Flow Overview Cash Flow Summary Q3 2023 Q3 2024 Operating Cash Flow $ Millions Operating cash flow $ (4.5) $ (37.3) Capital expenditures, net of disposals $ (49.2) $ (57.0) Acquisition payment, net of cash acquired $ - $ (122.9) Borrowings (Payments) on Senior Credit Facility $ (4.4) $ 149.6 Ot
Slide 11: Outlook for Quarter Ending January 27, 2024 (Q4 2024)
Outlook for Quarter Ending January 27, 2024 (Q4 2024) Q4 2024 Outlook: CONTRACT REVENUES AMORTIZATION EXPENSE Organic contract revenues expected to be in line $6.8 million with Q4 2023 contract revenues In addition, we expect approximately $50 million of acquired revenues in Q4 2024 INTEREST EXPENSE
Slide 12: Closing Remarks
Closing Remarks We maintain significant customer presence throughout our markets and are encouraged by the increasing breadth in our business Our extensive market presence has allowed us to be at the forefront of evolving industry opportunities • Telephone companies are deploying FTTH to enable giga
Slide 13: Notes
Notes 1. Organic growth (decline) % from businesses that are included for the entire period in both the current and comparable prior period, adjusted for contract revenues from storm restoration services, and for the additional week of operations during the fourth quarter as a result of the Company’
Slide 14: Dycom - The people connecting America
VYDYCOM The people connecting America®