Dycom Industries, Inc. · NYSE:DY
Dycom Industries — Q3 2021 Earnings Presentation
12 slides from Dycom Industries's earnings presentation, Nov 24, 2020
Slide 1: Dycom Q3 2021 Results
Dycom Q3 2021 Results November 24, 2020
Slide 2: Participants and Agenda
Participants Agenda Steven E. Nielsen • Q3 2021 Overview President & Chief Executive Officer • Industry Update H. Andrew DeFerrari Chief Financial Officer • Financial & Operational Highlights Ryan F. Urness General Counsel • Outlook • Closing Remarks • Q&A 2
Slide 3: Important Information
Important Information Caution Concerning Forward-Looking Statements This presentation contains forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act. These statements include those related to the outlook for the quarter ending January 30, 2021 found within t
Slide 4: Q3 2021 Overview
Contract Revenues Q3 2021 Overview Contract Revenues Q3 2021 revenues of $810.3 million decreased 9.4% on an organic basis after excluding $8.9 million of revenues from storm restoration services for Q3 2021 Operating performance Non-GAAP Adjusted EBITDA for Q3 2021 of $92.8 million, or 11.5% of con
Slide 5: Industry Update
Industry Update Industry Increasing Network Bandwidth Dramatically Major industry participants constructing or upgrading significant wireline networks across broad sections of the country generally designed to provision 1 gigabit network speeds directly to consumers or wirelessly using 5G technologi
Slide 6: Contract Revenues
Contract Revenues 2 Formerly known as CenturyLink, Inc. Q3 2021 Organic growth (decline): Top 5 customers represented 71.6% and 77.3% of contract (9.4)% (15.4)% 11.1% revenues in Q3 2021 and Q3 2020, respectively Total Customers Top 5 Customers All Other Customers Q3 2021 % of contract revenues from
Slide 7: Backlog and Awards
Backlog and Awards Selected Q3 2021 Awards and Extensions: Contracts executed subsequent to Q3 2021 resulted Customer Description Area Term in bookings in excess of $740 million of backlog that AT&T Maintenance Services IN, OH, KY, TN, AL, GA, FL 3 years will be incorporated in the Q4 2021 calculati
Slide 8: Financial Highlights
Financial Highlights As % of Contract Revenues Q3 2021 revenues of $810.3 million decreased 9.4% on an organic basis after excluding $8.9 million of revenues from storm restoration services for Q3 2021 Non-GAAP Adjusted EBITDA of $92.8 million, or 11.5% of revenue, and Non-GAAP Adjusted Diluted EPS
Slide 9: Liquidity Overview
Liquidity Overview $ Millions Q2 2021 Q3 2021 Debt Summary 0.75% Convertible Senior Notes, mature Sept 2021: $ 58.3 $ 58.3 Senior Credit Facility, matures Oct 2023:4 Term Loan Facilities 433.1 427.5 Revolving Facility 200.0 85.0 Total Notional Amount of Debt $ 691.4 $ 570.8 Less: Cash and Equivalent
Slide 10: Outlook
Outlook For the quarter ending January 30, 2021 (which includes an additional week of operations due to the Company’s 52/53 week fiscal year), the Company expects modestly lower contract revenues with margins that range from in-line to modestly higher, as compared to the quarter ended January 25, 20
Slide 11: Closing Remarks
Closing Remarks Solid end market activity despite challenging economic backdrop Fiber deployments enabling new wireless technologies are underway in many regions of the country Telephone companies are deploying FTTH to enable 1 gigabit high speed connections Cable operators are deploying fiber to sm
Slide 12: Notes
Notes 1) Organic growth (decline) % adjusted for revenues from acquired businesses and storm restoration services, when applicable. 2) Formerly known as CenturyLink, Inc. 3) The Company’s backlog represents an estimate of services to be performed pursuant to master service agreements and other contr