Dycom Industries, Inc. · NYSE:DY

Dycom Industries — Q1 2019 Earnings Presentation

22 slides from Dycom Industries's earnings presentation, May 22, 2018

  1. Slide 1: 1st Quarter Fiscal 2019 Results Conference Call

    Exhibit 99.2 1st Quarter Fiscal 2019 May 22, 2018 Results Conference Call

  2. 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

  3. Slide 3: Participants and Agenda

    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 General Counsel Agenda Introduction and Q1‐19 Overview Industry Update Financial & Operational Highlights

  4. Slide 4: Q1-19 Overview and Highlights

    Q1‐19 Overview and Highlights  Strengthening market opportunities despite near‐term revenue declines  Contract revenues of $731.4 million in Q1‐19, included $14.8 million of revenue from storm restoration services. Excluding revenues from storm restoration services and acquired businesses, revenue

  5. Slide 5: 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 depl

  6. Slide 6: Revenue Highlights

    Revenue Highlights Organic % adjusted for revenues from acquired businesses and storm restoration services, when applicable.  Q1‐19 organic decline of 10.0%  Top 5 customers decreased 8.8% organically, impacted by the moderation in spending by two large customers  All other customers decreased 14

  7. Slide 7: 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

  8. Slide 8: Financial Highlights

    Financial Highlights Financial charts ‐ $ in millions, except earnings per share amounts As a % of Contract Revenues 13.8% 10.1%  Revenues of $731.4 million in Q1‐19 declined organically 10.0% from the year‐ago quarterly period  Moderation in Q1‐19 from two large customers and declines from certai

  9. Slide 9: Liquidity Overview

    Liquidity Overview Financial tables ‐ $ in millions Strong balance sheet and liquidity Robust operating cash flows * (a) Availability on Revolver presented net of $48.6 million L/C’s under the Senior Credit Facility at each of January 27, 2018 and April 28, 2018  Balance sheet reflects the strength

  10. Slide 10: Annual Outlook for Fiscal Year Ending January 26, 2019

    Annual Outlook for Fiscal Year Ending January 26, 2019 (Fiscal 2019) Financial table‐ $ in millions, except earnings per share amounts (% as a percent of contract revenues, except as noted for Effective Income Tax Rate) Fiscal 2019 Outlook Other Expectations Trailing 4 Trailing 4 Quarters Ended Outl

  11. Slide 11: Looking Ahead to the Quarter Ending July 28, 2018 (Q2-2019)

    Looking Ahead to the Quarter Ending July 28, 2018 (Q2‐2019) Financial table‐ $ in millions, except earnings per share amounts (% as a percent of contract revenues, except as noted for Effective Income Tax Rate) Q2‐19 Outlook Other Expectations Outlook ‐ Outlook ‐ Quarter Ending Quarter Ending Quarte

  12. Slide 12: Conclusion

    Conclusion Firm and strengthening end market opportunities  Fiber deployments in contemplation of emerging wireless technologies have begun in many regions of the country. A significant number of new project initiations are occurring.  Wireless construction activity in support of expanded coverage

  13. Slide 13: Explanation of Non-GAAP Measures

    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

  14. Slide 14: Non-GAAP Organic Contract Revenue

    Appendix: Regulation G Disclosure Reconciliation of Non‐GAAP Financial Measures to Comparable GAAP Financial Measures Non‐GAAP Organic Contract Revenue Unaudited ($ in millions) (a) Q4‐16 contained 14 weeks as a result of our 52/53 week fiscal year as compared to 13 weeks in all other quarterly peri

  15. Slide 15: Non-GAAP Organic Contract Revenue – certain customers

    Appendix: Regulation G Disclosure Reconciliation of Non‐GAAP Financial Measures to Comparable GAAP Financial Measures Non‐GAAP Organic Contract Revenue – certain customers Unaudited ($ in millions) All customers Total Contract Top 5 Customers (excluding Top 5 Revenue combined* Customers) Verizon GAA

  16. Slide 16: Non-GAAP Adjusted EBITDA

    Appendix: Regulation G Disclosure Reconciliation of Non‐GAAP Financial Measures to Comparable GAAP Financial Measures Non‐GAAP Adjusted EBITDA Unaudited ($ in 000's) Quarter Ended April 28, 2018 April 29, 2017 Q1‐19 Q3‐17 Reconciliation of net income to Non‐GAAP Adjusted EBITDA: Net income $ 17,231

  17. Slide 17: Non-GAAP Adjusted Net Income and Adjusted Diluted EPS

    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 000's, except per share amounts) Quarter Ended April 28, 2018 April 29, 2017 Q1‐19 Q3‐17

  18. Slide 18: Non-GAAP Adjusted EBITDA – Trailing 4 Quarters

    Appendix: Regulation G Disclosure Reconciliation of Non‐GAAP Financial Measures to Comparable GAAP Financial Measures Non‐GAAP Adjusted EBITDA Unaudited ($ in 000's) Trailing 4 Quarter Ended Quarters Ended January 27, 2018 October 28, 2017 July 29, 2017 April 29, 2017 January 27, 2018 Q2‐18 Q1‐18 Q4

  19. Slide 19: Non-GAAP Adjusted Net Income and Adjusted Diluted EPS

    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 000's, except per share amounts) Note: Amounts above may not add due to rounding. a) Amo

  20. Slide 20: Outlook – Non-GAAP Diluted Earnings per Common Share

    Appendix: Regulation G Disclosure Reconciliation of Non‐GAAP Financial Measures to Comparable GAAP Financial Measures Outlook –Non‐GAAP Diluted Earnings per Common Share for Fiscal 2019 and Quarter Ending July 28, 2018 (Q2-19) Unaudited Quarter Ending July 28, 2018 Fiscal 2019 (Q2‐19) Diluted earnin

  21. Slide 21: Reconciliation of Net Income to Non-GAAP Adjusted EBITDA Guidance

    Appendix: Regulation G Disclosure Reconciliation of Non‐GAAP Financial Measures to Comparable GAAP Financial Measures Reconciliation of Net Income to Non‐GAAP Adjusted EBITDA based on the Midpoint of Earnings per Common Share ("EPS") Guidance for Fiscal 2019 and Quarter Ending July 28, 2019 (Q2‐19)

  22. Slide 22: 1st Quarter Fiscal 2019 Results Conference Call

    1st Quarter Fiscal 2019 May 22, 2018 Results Conference Call

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