Dycom Industries, Inc. · NYSE:DY
Dycom Industries — Q1 2021 Earnings Presentation
13 slides from Dycom Industries's earnings presentation, May 19, 2020
Slide 1: Dycom Q1 2021 Results
Dycom Q1 2021 Results May 19, 2020
Slide 2: Participants and Agenda
Participants Agenda Steven E. Nielsen • Dycom’s COVID-19 Response President & Chief Executive Officer • Industry Impacts from the COVID-19 Pandemic H. Andrew DeFerrari Chief Financial Officer • Q1 2021 Overview Ryan F. Urness General Counsel • Financial & Operational Highlights • Outlook • Closing R
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: Dycom's COVID-19 Response
Dycom’s COVID-19 Response Employees Customers Operating Plans Keeping employees safe our first priority Intense focus remained unchanged Decisive and proactive adjustments Adopted enhanced protection protocols and Continued to serve our customers as they Reduced general and administrative PPE guidel
Slide 5: Industry Impacts from the COVID-19 Pandemic
Industry Impacts from the COVID-19 Pandemic Intermediate to Longer Term Impacts Prior investments by major industry participants to construct or upgrade wireline networks have enabled astounding increases in peak demands on telecommunication networks; programs are likely to accelerate Our customers’
Slide 6: Q1 2021 Overview
Contract Revenues Q1 2021 Overview Contract Revenues Reflected increased demand from 2 of the Company’s top 5 customers despite challenging economic backdrop Operating performance Non-GAAP Adjusted EBITDA for Q1 2021 of $69.9 million, or 8.6% of contract revenues, compared to $73.6 million, or 8.8%
Slide 7: Contract Revenues
Contract Revenues Non-GAAP Organic Growth (Decline) %1 Top 5 Customers Q1 2021 Organic growth (decline): Top 5 customers represented 78.5% and 80.4% of contract (1.8)% (3.9)% 7.0% revenues in Q1 2021 and Q1 2020, respectively Total Customers Top 5 Customers All Other Customers Q1 2021 % of contract
Slide 8: Backlog and Awards
Backlog and Awards Backlog2 Employee Headcount Selected Q1 2021 Awards and Extensions: Customer Description Area Term CenturyLink Engineering Services OR, MT, AZ, NJ, PA, VA, NC 1 year AT&T Construction & Maintenance Services AL 3 years Verizon Engineering & Construction Services Various 3 years Cha
Slide 9: Financial Highlights
Financial Highlights As % of Contract Revenues Revenues of $814.3 million in Q1 2021 decreased organically 1.8% from the comparable prior period after excluding $4.7 million in prior year storm restoration services during Q1 2020 Revenues reflected increased demand from 2 of our top 5 customers desp
Slide 10: Liquidity Overview
Liquidity Overview $ Millions Q4 2020 Q1 2021 Net Debt Summary 0.75% Convertible Senior Notes, mature Sept 2021: $ 460.0 $ 293.0 3 Senior Credit Facility, matures Oct 2023: Term Loan Facilities 444.4 438.8 Revolving Facility - 675.0 Total Notional Amount of Debt $ 904.4 $ 1,406.7 Less: Cash and equi
Slide 11: Outlook
Outlook Closely monitoring impact of COVID-19 pandemic on all aspects of our business We have taken proactive measures to maintain business continuity, manage costs and preserve the solid financial position of our company Encouraged by Q1 2021 performance after the onset of the pandemic Seeing stabl
Slide 12: Closing Remarks
Closing Remarks Firm end market activity despite challenging economic backdrop Fiber deployments enabling new wireless technologies are underway in many regions of the country Wireless construction activity in support of expanded coverage and capacity continued to grow through the deployment of enha
Slide 13: Notes
Notes 1) Organic growth (decline) % adjusted for revenues from acquired businesses and storm restoration services, when applicable. 2) The Company’s backlog represents an estimate of services to be performed pursuant to master service agreements and other contractual agreements over the terms of tho