Dycom Industries, Inc. · NYSE:DY
Dycom Industries — Q4 2020 Earnings Presentation
14 slides from Dycom Industries's earnings presentation, Feb 26, 2020
Slide 1: Dycom Q4 2020 Results
Dycom Q4 2020 Results February 26, 2020
Slide 2: Participants and Agenda
Participants Agenda Steven E. Nielsen • Opening Comments & Q4 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 Co
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: Opening Comments
Opening Comments Strong Operating Cash Flows Operating cash flows of $191.8 million funded net debt reduction of $176.3 million and capital expenditures during Q4 2020 Liquidity of $337.3 million at Q4 2020 Solid Backlog Total backlog of $7.314 billion at Q4 2020 increased sequentially from $6.349 a
Slide 5: Contract Revenues Q4 2020 Overview
Contract Revenues Q4 2020 Overview Contract revenues Organic revenue growth of 1.3%, excluding $20.4 million in prior year storm restoration services during Q4 2019 Increased demand from 3 of the Company’s top 5 customers Operating performance Non-GAAP Adjusted EBITDA for Q4 2020 of $44.5 million, o
Slide 6: Industry Update
Industry Update Industry increasing network bandwidth dramatically Major industry participants constructing or upgrading significant wireline networks across broad sections of the country generally designed to provision 1 gigabit network speeds directly to consumers or wirelessly using 5G technologi
Slide 7: Contract Revenues: Organic Growth and Top Customers
Contract Revenues Non-GAAP Organic Growth (Decline) %1 Top 5 Customers Q4 2020 Organic growth (decline): 1.3% (1.2)% 10.6% Top 5 customers represented 77.2% and 79.7% of contract revenues in Q4 2020 and Q4 2019, respectively Total Customers Top 5 Customers All Other Customers Q4 2020 % of contract r
Slide 8: Backlog and Awards
Backlog and Awards Backlog2 Employee Headcount Selected Q4 2020 Awards and Extensions: Customer Description Area Term CenturyLink Construction & Utah, Colorado, South Dakota, Nebraska, Kansas, Minnesota, Iowa, 3 years Maintenance Services Missouri, Louisiana, Ohio, Virginia, Tennessee, North Carolin
Slide 9: Financial Highlights
Financial Highlights As % of Contract Revenues Revenues of $737.6 million in Q4 2020 increased organically 1.3% from the comparable prior period after excluding $20.4 million in prior year storm restoration services during Q4 2019 Increased demand from 3 of the Company’s top 5 customers 9
Slide 10: Liquidity Overview
Liquidity Overview $ Millions October 26, 2019 January 25, 2020 $ Millions Q4 2019 Q4 2020 Cash and equivalents $ 11.8 $ 54.6 Cash Flow Summary Cash provided by operating activities $ 142.8 $ 191.8 Senior Credit Facility, matures Oct 2023:3 Capital expenditures, net of disposals $ (33.8) $ (15.8) Re
Slide 11: Outlook for Quarter Ending April 25, 2020 (Q1 2021)
Outlook for Quarter Ending April 25, 2020 (Q1 2021) $ Millions (except per share amounts) Q1 2020 Outlook Outlook Outlook Q1 2020 Q1 2021 Q1 2020 Q1 2021 Contract revenues $833.7 $730 - $780 Depreciation $41.0 $41.1 - $41.9 GAAP Diluted Earnings (Loss) per Common $0.45 $(0.20) - $(0.03) Amortization
Slide 12: Looking Ahead to the Quarter Ending July 25, 2020 (Q2 2021)
Looking Ahead to the Quarter Ending July 25, 2020 (Q2 2021) $ Millions (except per share amounts) Q1 2020 Outlook Outlook Outlook Q2 2020 Q2 2021 Q2 2020 Q2 2021 Contract revenues $884.2 Range from Depreciation $41.9 $41.2 - $42.0 low-single digit decrease to Amortization $5.3 $5.2 low- single digit
Slide 13: 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 continued to grow through the deployment of enhanced macro cells and
Slide 14: 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