Slide 1: Dycom Q2 2020 Results
Dycom Q2 2020 Results August 28, 2019
Slide 2: Participants and Agenda
Participants Agenda Steven E. Nielsen • Q2 2020 Overview President & Chief Executive Officer • Industry Update Timothy R. Estes Chief Operating Officer • Financial & Operational Highlights H. Andrew DeFerrari Chief Financial Officer • Outlook Ryan F. Urness • Conclusion General Counsel • Q&A 2
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: Contract Revenues Q2 2020 Overview
Contract Revenues Q2 2020 Overview Contract revenues Strong organic revenue growth of 11.1% Entered into contract modification that increases revenue produced by a large customer program. As a result, recognized $11.8 million of contract revenues for services performed in prior periods and $1.8 mill
Slide 5: Industry Update
Industry Update Industry increasing network bandwidth dramatically Major industry participants constructing or upgrading significant wireline networks generally designed to provision 1 gigabit network speeds directly to consumers or wirelessly using 5G technologies Emerging wireless technologies are
Slide 6: Contract Revenues
Contract Revenues Non-GAAP Organic Growth (Decline) %1 Top 5 Customers Q2 2020 Organic growth: 11.1% 12.7% 5.5% Top 5 customers represented 78.6% and 77.9% of contract Total Customers Top 5 Customers All Other Customers revenues in Q2 2020 and Q2 2019, respectively3 Q2 2020 % of contract revenues fr
Slide 7: Backlog and Awards
Backlog and Awards Backlog4 Employee Headcount Selected Q2 2020 Awards and Extensions: Customer Description Area Term (years) AT&T Construction Services Kentucky, Tennessee, North Carolina, South Carolina 3 CenturyLink Construction Services Wyoming, Colorado, Nebraska, Iowa, Missouri, Florida 3-6 Co
Slide 8: Financial Highlights
Financial Highlights As % of Contract Revenues Revenues of $884.2 million in Q2 2020 increased organically 11.1% from the comparable prior period Entered into contract modification that increases revenue produced by a large customer program. As a result, recognized $11.8 million of contract revenues
Slide 9: Liquidity Overview
Liquidity Overview $ Millions April 27, 2019 July 27, 2019 $ Millions Q2 2019 Q2 2020 Cash and equivalents $ 33.6 $ 12.6 Cash Flow Summary Cash provided by operating activities $ 12.6 $ (53.6) 5 Capital expenditures, net of disposals Senior Credit Facility, matures Oct 2023: $ (39.1) $ (32.8) Revolv
Slide 10: Outlook for Quarter Ending October 26, 2019 (Q3 2020)
Outlook for Quarter Ending October 26, 2019 (Q3 2020) Q1 2020 Outlook $ Millions (except per share amounts) Outlook Outlook Q3 2019 Q3 2020 Q3 2019 Q3 2020 Contract revenues $848.2 $ 820 - $ 870 Depreciation $39.8 $41.8 - $42.6 GAAP Diluted Earnings per Common Share $0.87 $0.48 - $0.68 Amortization
Slide 11: Looking Ahead to the Quarter Ending January 25, 2020 (Q4 2020)
Looking Ahead to the Quarter Ending January 25, 2020 (Q4 2020) Q1 2020 Outlook $ Millions (except per share amounts) Outlook Outlook Q4 2019 Q4 2020 Q4 2019 Q4 2020 Contract revenues $748.6 Organic revenue Depreciation $40.5 $41.9 - $42.7 ranging from in-line Amortization $5.4 $5.2 For comparative p
Slide 12: Conclusion
Conclusion Firm and strengthening end market opportunities Fiber deployments enabling new 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 enhanced macro cel
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) Top 5 customers includ