Dycom Industries, Inc. · NYSE:DY
Dycom Industries — Q3 2020 Earnings Presentation
13 slides from Dycom Industries's earnings presentation, Nov 26, 2019
Slide 1: Dycom Q3 2020 Results
Exhibit 99.2 Dycom Q3 2020 Results November 26, 2019
Slide 2: Participants and Agenda
Participants Agenda Steven E. Nielsen • Q3 2020 Overview President & Chief Executive Officer • Industry Update Timothy R. Estes Chief Operating Officer • Financial & Operational Highlights H. Andrew DeFerrari Chief Financial Officer • Outlook Ryan F. Urness • Conclusion General Counsel • Q&A 2
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: Q3 2020 Overview
Contract Revenues Q3 2020 Overview Contract revenues Organic revenue growth of 4.7% Operating performance Non-GAAP Adjusted EBITDA for Q3 2020 of $91.7 million, or 10.4% of contract revenues, compared to $98.6 million, or 11.6% of contract revenues, for Q3 2019 Non-GAAP Adjusted Diluted EPS of $0.88
Slide 5: Industry Update
Industry Update Industry increasing network bandwidth dramatically Major industry participants constructing or upgrading significant wireline networks generally designed to provision 1 gigabit network speeds directly to consumers or wirelessly using 5G technologies Wireline deployments are the found
Slide 6: Contract Revenues and Top Customers
Contract Revenues Non-GAAP Organic Growth (Decline) %1 Top 5 Customers Q3 2020 Organic growth: 4.7% 3.4% 9.6% Top 5 customers represented 77.3% and 78.4% of contract Total Customers Top 5 Customers All Other Customers revenues in Q3 2020 and Q3 2019, respectively Q3 2020 % of contract revenues from
Slide 7: Backlog and Awards
Backlog and Awards Backlog3 Employee Headcount Selected Q3 2020 Awards and Extensions: Customer Description Area Term Contracts executed subsequent to Q3 2020 resulted in CenturyLink Construction & Washington, Oregon, Wyoming, 3 years bookings in excess of $1.5 billion of backlog that will be Mainte
Slide 8: Financial Highlights
Financial Highlights As % of Contract Revenues Revenues of $884.1 million in Q3 2020 increased organically 4.7% from the comparable prior period Q3 2020 reflected increased demand from 3 of our top 5 customers 8
Slide 9: Liquidity Overview
Liquidity Overview $ Millions July 27, 2019 October 26, 2019 $ Millions Q3 2019 Q3 2020 Cash and equivalents $ 12.6 $ 11.8 Cash Flow Summary Cash used in operating activities $ (55.5) $ (24.0) Senior Credit Facility, matures Oct 2023:4 Capital expenditures, net of disposals $ (42.6) $ (14.5) Revolvi
Slide 10: Outlook for Quarter Ending January 25, 2020 (Q4 2020)
Outlook for Quarter Ending January 25, 2020 (Q4 2020) $ MillionsQ1 (except 2020 per Outlookshare amounts) Outlook Outlook Q4 2019 Q4 2020 Q4 2019 Q4 2020 Contract revenues $748.6 $700 - $740 Depreciation $40.5 $41.2 - $42.0 GAAP Diluted Earnings (Loss) per Common $(0.38) $(0.27) - $(0.10) Amortizati
Slide 11: Looking Ahead to the Quarter Ending April 25, 2020 (Q1 2021)
Looking Ahead to the Quarter Ending April 25, 2020 (Q1 2021) $ MillionsQ1 (except 2020 per Outlookshare amounts) Outlook Outlook Q1 2020 Q1 2021 Q1 2020 Q1 2021 Contract revenues $833.7 Total revenue Depreciation $41.0 $41.6 - $42.4 decreases low- to Amortization $5.3 $5.0 mid-single digits as a % o
Slide 12: Conclusion
Conclusion Firm and strengthening end market opportunities Fiber deployments enabling new 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 of enhanced macro cel
Slide 13: Notes
Notes 1) Organic growth (decline) % adjusted for revenues from acquired businesses and storm restoration services, when applicable. 2) Due to the change in the Company’s fiscal year end, the Company’s fiscal 2018 six month transition period consisted of Q1 2018 and Q2 2018. 3) Our backlog represents