Dycom Industries, Inc. · NYSE:DY
Dycom Industries — Investor Presentation (May 2022)
24 slides from Dycom Industries's investor presentation, May 26, 2022
Slide 1: Investor Presentation June 2022
Investor Presentation June 2022 1 Exhibit 99.1
Slide 2: 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 July 30, 2022 found within this
Slide 3: Dycom Overview
Dycom Overview • Leading supplier of specialty contracting services to telecommunication providers throughout the US • Intensely focused on the telecommunications market providing our customers with critical network infrastructure that is fundamental to economic progress • Durable customer relations
Slide 4: Financial Overview
Financial Overview Fiscal 2022 Annual Operating Performance • Contract Revenues of $3.131 billion • Non-GAAP Adjusted EBITDA of $244.3 million, or 7.8% of contract revenues Backlog and Headcount as of April 30, 2022 (Q1 2023) • Total Backlog of $5.593 billion • Employee headcount of 15,200+ Liquidit
Slide 5: Strong Secular Trend
Strong Secular Trend 5 • The monthly weighted average data consumed by subscribers in 4Q-21 was a record of 536.3 GB, up 11% from 4Q-20 • 83% of these subscribers are provisioned at speeds of 100+ Mbps • The gigabit subscriber tier exceeded 12% of all subscribers for the first time in 4Q-21, up from
Slide 6: Industry Update
Industry Update The industry 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
Slide 7: Intensely Focused on Telecommunications Market
Intensely Focused on Telecommunications Market Dycom’s extensive market presence and complete lifecycle services offering have allowed the Company to be at the forefront of evolving industry opportunities • Telephone companies are deploying FTTH to enable gigabit high speed connections and, increasi
Slide 8: Strong Tailwinds For Fiber Deployments
“Attaining and sustaining total revenue and EBITDA growth is our most critical milestone. And as we’ve said, we’ll generate both in 2023… It starts with scaling the fiber build. We doubled our build rates by second quarter 2021, and it has continued to scale rapidly since then. Look for us to double
Slide 9: 5G Deployment
5G Deployment 9 Over $80 billion in 5G Spectrum Investments • Wireless carriers are increasing 4G capacity and augmenting 4G with new 5G technologies creating growth opportunities in the near to intermediate term • Emerging wireless technologies driving significant wireline deployments • Wireline de
Slide 10: Local Credibility, National Capability
Local Credibility, National Capability Nationwide footprint with more than 40 operating subsidiaries and 15,000+ employees 10 Operating Subsidiaries
Slide 11: Durable Customer Relationships
Durable Customer Relationships 11 4 Quarters Ended Jan 20181
Slide 12: Anchored by Long-Term Agreements
Anchored by Long-Term Agreements 12 FY 2022 Revenue by Contract Type Backlog2 • Dycom is party to hundreds of MSA’s and other agreements with customers that extend for periods of one or more years • Generally multiple agreements maintained with each customer • Master Service Agreements (MSA’s) are m
Slide 13: 10+ Years of Robust Cash Flow Generation
10+ Years of Robust Cash Flow Generation 13 Prudent approach to capital allocation: • $581 million invested in share repurchases • $582 million invested in business acquisitions • $1,155 million in CapEx, net of disposals Robust cash flow generation and prudent capital allocation provide strong foun
Slide 14: Capital Allocated to Maximize Returns
Capital Allocated to Maximize Returns Invest in Organic Growth • Focus on organic growth opportunities through strategic capital investments in the business Pursue Complementary Acquisitions • Selectively acquire businesses that further strengthen our customer relationships, geographic scope, and te
Slide 15: Committed to Sustainability
Working together, we strive to continually reduce our environmental impact by embracing advancements in sustainable technologies optimized by core business practices and a highly skilled workforce. Committed to Sustainability 15 • Built a program anchored to three core pillars – People, Safety and E
Slide 16: Financial Update
FINANCIAL UPDATE — X.
Slide 17: Annual Trends
Annual Trends 17 $2,978 $3,128 $3,340 $3,199 $3,131 4 Qtrs Ended Jan 2018 FY 2019 FY 2020 FY 2021 FY 2022 Contract Revenues $ M il li o n s $383 $330 $310 $311 $244 12.9% 10.5% 9.3% 9.7% 7.8% 4 Qtrs Ended Jan 2018 FY 2019 FY 2020 FY 2021 FY 2022 Non-GAAP Adjusted EBITDA Non-GAAP Adjusted EBITDA Non-
Slide 18: Quarterly Trends
Quarterly Trends OpDYCcCOM Contract Revenues $876 ‘| | j ; [ I 22021 032021 042021 12022 22022 032022 Q42022 Q12023 Non-GAAP Adjusted EBITDA $103 2.2021 32021 Q42021 Q12022 22022 32022 42022 Qi 2023 ME Non-GAAP Adjusted EBITDA —=®=Non-GAAP Adjusted EBITDA % Non-GAAP Organic Growth (Decline) %° 213%
Slide 19: Debt and Liquidity Overview
Debt and Liquidity Overview Debt maturity profile and liquidity provide financial flexibility 19 • Solid liquidity of $309.5 million at Q1 2023 • Sound credit metrics and no near term debt maturities • Capital allocation prioritizes organic growth, followed by opportunistic share repurchases and M&A
Slide 20: Cash Flow Overview
Cash Flow Overview 20 Operating Cash Flow • Operating cash flow used to support strong organic growth during Q1 2023 • Repurchased 200,000 common shares for $18.5 million during Q1 2023 • Total DSOs of 105 days improved 3 days sequentially 4 Qtrs Ended Q1 2023 $ Millions Q1 2022 Q1 2023 Cash Flow Su
Slide 21: Questions and Answers
QUESTIONS AND ANSWERS 21
Slide 22: Outlook slide used on May 25, 2022 conference call
22 This slide was used on May 25, 2022 in connection with the Company’s conference call for its fiscal 2023 first quarter results. This information is provided for your reference only and should not be interpreted as a reiteration of these projections by the Company at any time after the date origin
Slide 23: Notes
Notes 1. 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. Amounts provided for the Four Quarters Ended January 2018 represent the aggregate of Q3 2017, Q4 2017, Q1 2018, and Q2 2018 for comparative purposes to
Slide 24: The people connecting America
The people connecting America® 24