Dycom Industries, Inc. · NYSE:DY
Dycom Industries — Q3 2026 Earnings Presentation
30 slides from Dycom Industries's earnings presentation, Nov 19, 2025
Slide 1: 3rd Quarter 2026 Results
THE PEOPLE CONNECTING AMERICA ® 3RD QUARTER 2026 RESULTS November 19, 2025
Slide 2: Important Information
IMPORTANT INFORMATION CAUTION CONCERNING FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include those related to the Company’s current assumptions regarding
Slide 3: Financial Highlights
FINANCIAL HIGHLIGHTS Delivered strong revenue growth and margin expansion “ We delivered an exceptional third quarter with record revenue, profitability $ MILLIONS, except EPS Q3 2026 Q3 2025 Y/Y and backlog, reinforcing our industry leadership and operational discipline. Total Contract Revenues1 $
Slide 4: Industry Drivers
INDUSTRY DRIVERS Increasing amounts of capital in the industry for the deployment and operation of high-capacity telecommunications and digital infrastructure Expansion Multi-Year Increasing Continued State Wireless of Core Capital Demand and Federal Network Maintenance Commitments for Fiber Program
Slide 5: Backlog
BACKLOG $ BILLIONS Next 12 Month Backlog Key wins across diverse demand $8.127 $8.222 $7.856 $7.989 drivers support backlog quality $7.760 Total Backlog2 and Next 12 Months Backlog increased 4.7% and 11.8% $4.994 $4.642 $4.685 $4.604 year-over-year, respectively $4.467 Subsequent to the quarter, we
Slide 6: Debt and Liquidity Overview
DEBT SUMMARY Q3 2026 Q2 2026 $ MILLIONS 4.50% Senior Notes, mature April 2029 $ 500.00 $ 500.0 Senior Credit Facility, matures January 2029:3 DEBT AND Term Loan Facility 445.0 450.0 LIQUIDITY Revolving Facility - 85.0 OVERVIEW Total Notional Amount of Debt $ 945.0 $ 1,035.0 Debt maturity profile and
Slide 7: Cash Flow Overview
CASH FLOW SUMMARY Q3 2026 Q3 2025 $ MILLIONS Operating cash flows $ 220.0 $ 65.8 Capital expenditures, net of proceeds from $ (47.6) $ (66.4) sale of assets CASH FLOW Cash paid for acquisitions, net of cash $ - $ (150.1) OVERVIEW acquired Capital allocation prioritizes organic (Repayments) Borrowing
Slide 8: Fiscal 2026 Outlook
FISCAL 2026 OUTLOOK FISCAL YEAR ENDING JANUARY 31, 2026 As a result of our strong performance and favorable demand outlook, the Company is increasing the midpoint of its revenue guidance. We now expect total contract revenues for fiscal 2026 to range from $5.350 billion to $5.425 billion, representi
Slide 9: Q4 2026 Outlook
Q4 2026 OUTLOOK This outlook excludes any results from the pending acquisition and related financing. While we expect to close in Q4 2026, QUARTER ENDING JANUARY 31, 2026 impacts are dependent on the timing of completion. TOTAL CONTRACT REVENUES Amortization Expense $1.26 BILLION to $1.34 BILLION $1
Slide 10: Dycom to Acquire Power Solutions, LLC
DYCOM TO ACQUIRE POWER SOLUTIONS, LLC
Slide 11: Dycom Acquisition of Power Solutions
DYCOM ACQUISITION OF POWER SOLUTIONS Positions Dycom at the Center of Durable, Long-Term Infrastructure Trends 1 Expands Exposure to Rapidly Growing, Mission-Critical Data Center Demand 2 Extends Platform for Long-Term Growth and Diversification + 3 Unlocks Significant Opportunity to Scale Operation
Slide 12: Transaction Overview
TRANSACTION OVERVIEW • Total purchase price of $1.95 billion, consisting of approximately $293 million payable in Dycom common stock and the remainder of the consideration payable in cash, subject to certain closing and post-closing adjustments Transaction • Purchase price represents a multiple of a
Slide 13: Power Solutions Overview
POWER SOLUTIONS OVERVIEW Premier Leader in Data Center Electrical Contracting 27 2,800+ 90% Founded in 1998, Power Solutions is one of the largest electrical contractors in the Mid-Atlantic. The Company of revenues specializes in mission-critical years in highly skilled from data electrical construc
Slide 14: Power Solutions Overview: A Strong Track Record of Performance
POWER SOLUTIONS OVERVIEW A Strong Track Record of Performance Power Solutions has ~$1.0B 15%+ $1.0B+ Revenues Revenue CAGR Current consistently generated CY2025E 2020-2024 Backlog strong top and bottom- line growth, while increasing project size and scope due to high demand for its services Mid-to-H
Slide 15: Power Solutions Overview: Differentiated in Ability to Scale
POWER SOLUTIONS OVERVIEW Differentiated in Ability to Scale and Deliver the Highest Level of Service in a Highly Complex, Technical Space MV Power LV Power Distribution Distribution LV switchgear & MCCs MV switchgear & MCCs Intelligent PDUs Protection relays Active filters Distribution transformer P
Slide 16: Expands Dycom's Exposure to Rapidly Growing Data Center End Market
EXPANDS DYCOM’S EXPOSURE TO RAPIDLY GROWING DATA CENTER END MARKET Immediately Deepens Exposure to one of the Fastest-Growing Infrastructure Sectors Data center infrastructure is poised for significant CURRENT AND EXPECTED DATA CENTER CAPACITY (GW) growth. While traditional non-gen-AI drivers, like
Slide 17: Diversifies Business and Extends Platform into Compelling Adjacency
DIVERSIFIES BUSINESS AND EXTENDS PLATFORM INTO COMPELLING ADJACENCY FOR LONG-TERM GROWTH Power Solutions Brings Leading Electrical Contracting Capabilities, Diversifying Business and Extending Platform For Long-Term Growth POWER SOLUTIONS DYCOM COMBINED* Robust electrical contracting capabilities De
Slide 18: Unlocks Opportunity to Scale Operations and Cross-Sell Services
UNLOCKS SIGNIFICANT OPPORTUNITY TO SCALE POWER SOLUTIONS’ OPERATIONS AND CROSS-SELL SERVICES Primed to Deliver an Expanded Solutions Set to Customers Across a Nationwide Footprint DYCOM NATIONWIDE FOOTPRINT POWER SOLUTIONS REGIONAL FOOTPRINT 37 3 WA COMPANIES MT ME STATES ND MN OR VT 50 4 ID NY WI N
Slide 19: Adds Substantial Skilled Labor Capacity, Combining Two Workforces
ADDS SUBSTANTIAL SKILLED LABOR CAPACITY, COMBINING TWO LEADING WORKFORCES 2,800+ Highly Skilled Employees Provide Self-Perform Electrical Contracting Capabilities, Extending Capacity to Execute Large, Complex Projects Preserves what A proven culture Deepens bench and Unites two people- makes Power o
Slide 20: Enhances Dycom's Positioning at Center of Infrastructure Trends
ENHANCES DYCOM’S POSITIONING AT THE CENTER OF DURABLE, LONG-TERM INFRASTRUCTURE TRENDS Poised to Capture Outsized Share of Digital Infrastructure Spending with Diversified Offering As the digital economy expands, the demand for robust and reliable infrastructure – from high-speed fiber networks acro
Slide 21: Power Solutions Is Immediately Accretive to Dycom's Performance
POWER SOLUTIONS IS IMMEDIATELY ACCRETIVE TO DYCOM’S PERFORMANCE Power Solutions Financial Outlook: Immediate Expected • Power Solutions CY2025 annual revenue expected to Financial Benefits: be approximately $1.0 billion • Incremental revenue growth • Company’s 4-year revenue CAGR trajectory of ~15%
Slide 22: Power Solutions Is a Key Step in Dycom's Strategic Vision
POWER SOLUTIONS IS A KEY STEP IN THE EXECUTION OF DYCOM’S STRATEGIC VISION FOR SIGNIFICANT LONG-TERM GROWTH Expands Dycom’s exposure to rapidly-growing, mission- critical data center demand Extends platform for long-term growth and diversification + as a natural extension of current operations
Slide 23: Non-GAAP Reconciliations Q3 2026
NON-GA AP RECONCILIATIONS Q3 2026
Slide 24: Explanation of Non-GAAP Financial Measures
EXPLANATION OF NON-GA AP FINANCIAL MEASURES The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). In the Company’s quarterly results releases, slide presentations, conference calls and webcasts, it may use or discuss Non-GAAP financial mea
Slide 25: Contract Revenues and Non-GAAP Organic Contract Revenues
RECONCILIATION OF NON-GA AP FINANCIAL MEASURES TO COMPARABLE GA AP FINANCIAL MEASURES CONTRACT REVENUES AND NON-GAAP ORGANIC CONTRACT REVENUES UNAUDITED $ MILLIONS Quarter Quarter Nine Months Nine Months Ended Ended Ended Ended October 25, 2025 October 26, 2024 October 25, 2025 October 26, 2024 Cont
Slide 26: Net Income and Non-GAAP Adjusted EBITDA
RECONCILIATION OF NON-GA AP FINANCIAL MEASURES TO COMPARABLE GA AP FINANCIAL MEASURES NET INCOME AND NON-GAAP ADJUSTED EBITDA UNAUDITED $ MILLIONS Quarter Quarter Nine Months Nine Months Ended Ended Ended Ended October 25, 2025 October 26, 2024 October 25, 2025 October 26, 2024 Net income $ 106.4 $
Slide 27: Net Income and Non-GAAP Adjusted Net Income
RECONCILIATION OF NON-GA AP FINANCIAL MEASURES TO COMPARABLE GA AP FINANCIAL MEASURES NET INCOME AND NON-GAAP ADJUSTED NET INCOME UNAUDITED $ MILLIONS Quarter Quarter Nine Months Nine Months Ended Ended Ended Ended October 25, 2025 October 26, 2024 October 25, 2025 October 26, 2024 Net income $ 106.
Slide 28: Notes
NOTES 1. AT&T and Lumen each exceeded 10% of total revenues for Q3 2026. Customers exceeding 5% of total revenues for Q3 2026 were Brightspeed, Charter, Comcast, Frontier and Verizon. 2. The Company’s backlog represents an estimate of services to be performed pursuant to master service agreements an
Slide 29: Contact Us
CONTACT US Callie Tomasso Investor VP Investor Relations & Corporate and Media Communications Contact (561) 799-2260 InvestorRelations@dycomind.com Corporate 300 Banyan Boulevard, Suite 1101 West Palm Beach, FL 33401 Office (561) 627-7171 dycomind.com dycom-industries 29
Slide 30: The People Connecting America
THE PEOPLE CONNECTING AMERICA ®