Slide 1: 2nd Quarter 2026 Results
THE PEOPLE CONNECTING AMERICA ® 2ND QUARTER 2026 RESULTS AUGUST 20, 2025
Slide 2: Important Information
IMPORTANT INFORMATION CAUTION CONCERNING FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of the 1995 Private Securities Litigation Reform Act. These forward-looking statements include those related to the Company’s current assumptions regarding fut
Slide 3: Financial Highlights
FINANCIAL HIGHLIGHTS Delivered strong revenue growth and margin expansion “ Dycom’s first-half performance confirms the strength of our $ MILLIONS, except EPS Q2 2026 Q2 2025 Y/Y strategy, disciplined execution and ability to capitalize on a rapidly Total Contract Revenues1 $ 1,377.9 $ 1,203.1 14.5%
Slide 4: Industry Drivers
INDUSTRY DRIVERS Increasing amounts of capital in the industry for the deployment and operation of high-capacity telecommunications and digital inf rastructure Expansion Multi-Year Increasing Continued State Wireless of Core Capital Demand and Federal Network Maintenance Commitments for Fiber Progra
Slide 5: Backlog
BACKLOG $ BILLIONS Key wins across diverse demand Next 12 Month Backlog drivers support backlog quality $8.127 $7.989 $7.856 $7.760 Total Backlog2 and Next 12 Months $6.834 Backlog increased 16.9% and 20.2% year-over-year, respectively $4.642 $4.685 $4.604 Subsequent to the quarter, we $4.467 $3.830
Slide 6: Debt and Liquidity Overview
DEBT SUMMARY Q2 2026 Q1 2026 $ MILLIONS 4.50% Senior Notes, mature April 2029 $ 500.0 $ 500.0 Senior Credit Facility, matures January 2029:3 DEBT AND Term Loan Facility 450.0 450.0 LIQUIDITY Revolving Facility 85.0 89.0 OVERVIEW Total Notional Amount of Debt $ 1,035.0 $ 1,039.0 Debt maturity prof il
Slide 7: Cash Flow Overview
CASH FLOW SUMMARY Q2 2026 Q2 2025 $ MILLIONS Operating cash flows $ 57.4 $ (7.5) Capital expenditures, net of proceeds from $ (39.1) $ (55.9) sale of assets CASH FLOW Cash paid for acquisitions, net of cash $ - $ (20.8) OVERVIEW acquired Capital allocation prioritizes organic (Repayments) Borrowings
Slide 8: Fiscal 2026 Outlook
FISCAL 2026 OUTLOOK FISCAL YEAR ENDING JANUARY 31, 2026 We are reaffirming our Fiscal 2026 revenue outlook range of $5.290 billion to $5.425 billion, representing a range of 12.5% to 15.4% total growth over the prior year. We continue to see a marketplace of unprecedented opportunity as our customer
Slide 9: Q3 2026 Outlook
Q3 2026 OUTLOOK QUARTER ENDING OCTOBER 25, 2025 TOTAL CONTRACT NON-GAAP DILUTED REVENUES ADJUSTED EBITDA EPS $1.38 BILLION $198 MILLION $3.03 to $3.36 to $1.43 BILLION to $213 MILLION Amortization Stock-Based Interest Non-GAAP Diluted Expense Compensation Expense, Net Effective Income Shares Expense
Slide 10: Non-GAAP Reconciliations
NON-GA AP RECONCILIATIONS Q2 2026
Slide 11: Explanation of Non-GAAP Financial Measures
EXPLANATION OF NON-GA AP FINANCIAL MEASURES The Company reports its f inancial 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 f inancial m
Slide 12: Reconciliation: 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 Six Months Six Months Ended Ended Ended Ended July 26, 2025 July 27, 2024 July 26, 2025 July 27, 2024 Contract Revenues
Slide 13: Reconciliation: 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 Six Months Six Months Ended Ended Ended Ended July 26, 2025 July 27, 2024 July 26, 2025 July 27, 2024 Net income $ 97.5 $ 68.4 $ 158.5 $
Slide 14: Reconciliation: 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 Six Months Six Months Ended Ended Ended Ended July 26, 2025 July 27, 2024 July 26, 2025 July 27, 2024 Net income $ 97.5 $ 68.4 $ 158.
Slide 15: Notes
NOTES 1. AT&T and Lumen each exceeded 10% of total revenues for Q2 2026. Customers exceeding 5% of total revenues for Q2 2026 were Brightspeed, Charter, Comcast, Frontier, Verizon and an unnamed customer. 2. The Company’s backlog represents an estimate of services to be performed pursuant to master
Slide 16: The People Connecting America
THE PEOPLE CONNECTING AMERICA ®