Slide 1: Dycom Q2 2021 Results
Dycom Q2 2021 Results August 26, 2020
Slide 2: Participants and Agenda
Participants Agenda Steven E. Nielsen • Q2 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 October 24, 2020 found within t
Slide 4: Q2 2021 Overview
Contract Revenues Q2 2021 Overview Contract Revenues Q2 2021 revenues reflected stable demand despite challenging economic backdrop Strong growth from 2 of the Company’s top 5 customers Operating performance Non-GAAP Adjusted EBITDA for Q2 2021 of $102.7 million, or 12.5% of contract revenues, compa
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 Non-GAAP Organic Growth (Decline) %2 Top 5 Customers Q2 2021 Organic growth (decline): Top 5 customers represented 76.6% and 78.6% of contract (6.8)% (9.2)% 2.0% revenues in Q2 2021 and Q2 2020, respectively Total Customers Top 5 Customers All Other Customers Q2 2021 % of contract
Slide 7: Backlog and Awards
Backlog and Awards Backlog3 Employee Headcount Selected Q2 2021 Awards and Extensions: Customer Description Area Term AT&T Wireless Construction Services TX, LA, KY, TN, NC, SC, AL, GA, FL 3 years Construction & Maintenance Services MS 3 years Charter Construction & Maintenance Services CA, MO, AL 2
Slide 8: Financial Highlights
Financial Highlights As % of Contract Revenues Revenues of $823.9 million in Q2 2021 reflected stable demand despite challenging economic backdrop Solid growth from 2 of our top 5 customers Adjusted EBITDA of $102.7 million, or 12.5% of revenue, and Non-GAAP Adjusted Diluted EPS of $1.18 for Q2 2021
Slide 9: Liquidity Overview
Liquidity Overview $ Millions Q1 2021 Q2 2021 Debt Summary 0.75% Convertible Senior Notes, mature Sept 2021: $ 293.0 $ 58.3 4 Senior Credit Facility, matures Oct 2023: Term Loan Facilities 438.8 433.1 Revolving Facility 675.0 200.0 Total Notional Amount of Debt $ 1,406.7 $ 691.4 Less: Cash and Equiv
Slide 10: Outlook
Outlook The Company continues to closely monitor the impact of the COVID-19 pandemic on all aspects of its business Based on current conditions, the Company anticipates contract revenues and margins to range from in-line to modestly lower on a sequential basis for Q3 2021 as compared to Q2 2021 The
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 Fiber deep deployments to expand capacity
Slide 12: Notes
Notes 1) During the quarter ended July 27, 2019, the Company entered into a contract modification that increased revenue produced by a large customer program. As a result, the Company recognized $11.8 million of contract revenues for services performed in prior periods, $0.8 million of related perfo