Dycom Industries, Inc. · NYSE:DY
Dycom Industries — Q4 FY2019 Earnings Presentation
20 slides from Dycom Industries's earnings presentation, Feb 27, 2019
Slide 1: 4th Quarter Fiscal 2019 Results Conference Call
4th Quarter Fiscal 2019 February 27, 2019 Results Conference Call
Slide 2: Forward Looking Statements, Non-GAAP Financial Measures and Other Information
Forward Looking Statements, Non-GAAP Financial Measures and Other Information 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, fut
Slide 3: Participants and Agenda
Participants Steven E. Nielsen President & Chief Executive Officer Timothy R. Estes Chief Operating Officer H. Andrew DeFerrari Chief Financial Officer Richard B. Vilsoet Chief Legal Officer Agenda Opening Comments & Q4-19 Overview Industry Update Financial & Operational Highlights Outlook Conclusio
Slide 4: Introduction & Opening Comments
Introduction & Opening Comments Q4-19 Results Despite strong revenues, results were disappointing and gross margin underperformed compared to the Company’s previously announced guidance for Q4-19 Large customer program with growing revenues experienced costs that were more than expected reflec
Slide 5: Q4-19 Overview
Q4-19 Overview Strong organic revenue growth of 13.7% Contract revenues of $748.6 million for the quarter ended January 26, 2019, compared to $655.1 million for the quarter ended January 27, 2018 $20.4 million from storm restoration services for the quarter ended January 26, 2019, compared to
Slide 6: 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 dep
Slide 7: Revenue Highlights
Revenue Highlights Organic % adjusted for revenues from acquired businesses and storm restoration services, when applicable. Non-GAAP Organic Growth (Decline) % Q4-19 organic growth of 13.7% 30% 25% Top 5 customers increased 19.4% 20% 14.9% 13.7% organically 12.9% 15% 10% All other customers d
Slide 8: Backlog and Awards
Backlog and Awards Financial charts - $ in millions (a) (a) (a) (a) (a) Due to the change in the Company’s fiscal year end, the Company’s fiscal 2018 six month transition period consisted of Q1-18 and Q2-18. Selected Current Awards and Extensions Approximate Customers Description Area Term (in years
Slide 9: Financial Highlights
Financial Highlights Financial charts - $ in millions, except earnings per share amounts As a % of Contract Revenues 9.1% 8.0% Revenues of $748.6 million in Q4-19 increased organically 13.7% from the comparable prior period Storm restoration services contributed $20.4 million of revenues during
Slide 10: Liquidity Overview
Liquidity Overview Financial tables - $ in millions Financial profile remains strong Cash flows support scale of operations Liquidity Summary As of Cash Flow Summary Quarter Ended October 27, 2018 January 26, 2019 January 27, 2018 January 26, 2019 Cash and equivalents $ 21.5 $ 128.3 Cash provided by
Slide 11: Outlook for Quarter Ending April 27, 2019 (Q1-2020)
Outlook for Quarter Ending April 27, 2019 (Q1-2020) Financial tables - $ in millions, except earnings per share amounts (% as a percent of contract revenues, except as noted for Effective income tax rate) Q1-20 Outlook Other Expectations Outlook Outlook Quarter Ended Quarter Ending Quarter Ended Qua
Slide 12: Looking Ahead to the Quarter Ending July 27, 2019 (Q2-2020)
Looking Ahead to the Quarter Ending July 27, 2019 (Q2-2020) Financial tables - $ in millions, except earnings per share amounts (% as a percent of contract revenues, except as noted for Effective income tax rate) Q2-20 Outlook Other Expectations Outlook Quarter Outlook Quarter Ended Ending Quarter E
Slide 13: 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
Slide 14: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Explanation of Non-GAAP Measures The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). In the Company’s quarterly results releases, trend schedules, conference calls, slide presentations, and webcasts, it
Slide 15: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Organic Contract Revenues Unaudited ($ in millions) NON-GAAP ADJUSTMENTS Revenue Growth (Decline)% Revenues from Additional week Non-GAAP - Contract Revenues from storm as a
Slide 16: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Organic Contract Revenues – Certain Customers Unaudited ($ in millions) All Other Customers Total Top 5 (excluding Contract Customers Top 5 (a) Revenues Combined Customers)
Slide 17: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Adjusted EBITDA Unaudited ($ in thousands) Quarter Ended Quarter Ended January 26, 2019 January 27, 2018 July 28, 2018 April 28, 2018 Q4-19 Q2-18 Q2-19 Q1-19 Reconciliation
Slide 18: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Adjusted Net Income and Non-GAAP Adjusted Diluted Earnings Per Share Unaudited ($ in thousands, except per share amounts) Quarter Ended Quarter Ended January 26, 2019 Januar
Slide 19: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Outlook – Non-GAAP Diluted Earnings per Common Share Unaudited Quarter Ending April 27, 2019 GAAP Diluted Earnings per common share $0.23 - $0.45 Adjustment (a) Addback of after-tax
Slide 20: 4th Quarter Fiscal 2019 Results Conference Call
4th Quarter Fiscal 2019 February 27, 2019 Results Conference Call