Dycom Industries, Inc. · NYSE:DY
Dycom Industries — Q1 2020 Earnings Presentation
13 slides from Dycom Industries's earnings presentation, May 21, 2019
Slide 1: Dycom Q1 2020 Results
Exhibit 99.2 Dycom Q1 2020 Results May 21, 2019
Slide 2: Participants and Agenda
Participants Agenda Steven E. Nielsen • Q1 2020 Overview President & Chief Executive Officer • Industry Update Timothy R. Estes Chief Operating Officer • Financial & Operational Highlights H. Andrew DeFerrari Chief Financial Officer • Outlook Richard B. Vilsoet • Conclusion Chief Legal Officer • Q&A
Slide 3: Important Information
Important Information Caution Concerning Forward-Looking Statements This presentation contains “forward-looking statements”. Other than statements of historical facts, all statements contained in this presentation, including statements regarding the Company’s future financial position, future revenu
Slide 4: Q1 2020 Overview
Contract Revenues Q1 2020 Overview Contract revenues Strong organic revenue growth of 15.8% $4.7 million from storm restoration services for Q1 2020, compared to $14.8 million for Q1 2019 $6.1 million of contract revenues for Q1 2020 from a previously acquired business, compared to $5.8 million for
Slide 5: Industry Update
Industry Update Industry increasing network bandwidth dramatically Major industry participants deploying significant 1 gigabit wireline networks Emerging wireless technologies are driving significant wireline deployments Wireline deployments necessary to facilitate expected decades long deployment o
Slide 6: Contract Revenues Organic Growth and Top Customers
Contract Revenues Non-GAAP Organic Growth (Decline) %1 Top 5 Customers Q1 2020 Organic growth: Q1 2020 Organic growth with the following customers: 15.8% 19.4% 3.0% 28.7% 47.2% 17.8% 38.0% Total Customers Top 5 Customers All Other Customers AT&T Verizon CenturyLink Windstream Top 5 customers represe
Slide 7: Backlog and Awards
Backlog and Awards Backlog3 Employee Headcount Selected Q1 2020 Awards and Extensions: Customer Description Area Term (years) AT&T Construction Services California, Ohio, Kentucky, South Carolina, Georgia 3 Comcast Fulfillment Services Pennsylvania, New Jersey 1 Charter Fulfillment Services Nationwi
Slide 8: Financial Highlights
Financial Highlights As % of Contract Revenues Revenues of $833.7 million in Q1 2020 increased organically 15.8% from the comparable prior period Recognized a $8.2 million pre-tax charge for estimated warranty costs for work performed for a customer in prior periods Recognized a $10.3 million pre-ta
Slide 9: Liquidity Overview
Liquidity Overview $ Millions January 26, 2019 April 27, 2019 $ Millions Q1 2019 Q1 2020 Cash and equivalents $ 128.3 $ 33.6 Cash Flow Summary Cash provided by operating activities $ 24.6 $ (56.1) Senior Credit Facility, matures Oct 2023:4 Capital expenditures, net of disposals $ (26.5) $ (38.4) Rev
Slide 10: Outlook for Quarter Ending July 27, 2019 (Q2 2020)
Outlook for Quarter Ending July 27, 2019 (Q2 2020) $ MillionsQ1 (except2020 per Outlook share amounts) Other Expectations Outlook Outlook Q2 2019 Q2 2020 Q2 2019 Q2 2020 Contract revenues $799.5 $835 - $885 Depreciation $39.0 $41.1 - $41.9 GAAP Diluted Earnings per Common Share $0.94 $0.59 - $0.81 A
Slide 11: Looking Ahead to the Quarter Ending October 26, 2019 (Q3 2020)
Looking Ahead to the Quarter Ending October 26, 2019 (Q3 2020) $ MillionsQ1 (except2020 per Outlook share amounts) Other Expectations Outlook Outlook Q3 2019 Q3 2020 Q3 2019 Q3 2020 Contract revenues $848.2 Total revenue Depreciation $39.8 $41.7 - $42.5 growth % of Amortization $5.8 $5.3 low- to mid
Slide 12: Conclusion
Conclusion Firm and strengthening end market opportunities Fiber deployments in contemplation of emerging wireless technologies are underway in many regions of the country Wireless construction activity in support of expanded coverage and capacity has begun to accelerate through the deployment of en
Slide 13: Notes
Notes 1) Organic growth (decline) % adjusted for revenues from acquired businesses and storm restoration services, when applicable. 2) Due to the change in the Company’s fiscal year end, the Company’s fiscal 2018 six month transition period consisted of Q1 2018 and Q2 2018 3) Our backlog represents