Dycom Industries, Inc. · NYSE:DY
Dycom Industries — Q4 FY2022 Earnings Presentation
14 slides from Dycom Industries's earnings presentation, Mar 2, 2022
Slide 1: Quarter 4 | Fiscal 2022 Results
Quarter 4 | Fiscal 2022 Results March 2, 2022
Slide 2: Participants and Agenda
• Q4 2022 Overview • Industry Update • Financial & Operational Highlights • Outlook • Closing Remarks • Q&A 2 Participants and Agenda Steven E. Nielsen President and Chief Executive Officer H. Andrew DeFerrari Chief Financial Officer Ryan F. Urness General Counsel
Slide 3: Important Information
Important Information Caution Concerning Forward-Looking Statements This presentation contains forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act. These statements include those related to the outlook for the quarter ending April 30, 2022 found within thi
Slide 4: Q4 2022 Overview
Q4 2022 Overview Contract Revenues • Contract revenues of $761.5 million increased 10.1% organically after excluding $5.7 million of contract revenues from storm restoration services in the year ago period and adjusting for the additional week of operations in the year ago period as a result of our
Slide 5: Industry Update
Industry Update The industry effort to deploy high-capacity fiber networks continues to meaningfully broaden the set of opportunities for our industry • Major industry participants are constructing or upgrading significant wireline networks across broad sections of the country • High-capacity fiber
Slide 6: Contract Revenues
Contract Revenues 6 Q4 2022 Organic Growth: 10.1% 5.4% 20.8% Total Customers Top 5 Customers2 All Other Customers3 73.6% 97.2% AT&T Frontier Top 5 customers represented 66.6% and 69.4% of contract revenues in Q4 2022 and Q4 2021, respectively2 Fiber construction revenue from electric utilities incre
Slide 7: Backlog, Awards and Employees
Backlog, Awards and Employees 7 Customer Description of Services Area Term AT&T Construction & Maintenance CA, NV, TX, MO, WI, IN, OH 3 years Lumen Construction & Maintenance WA, OR, CA, AZ, AR 3 years Comcast Engineering MI, MA, PA, DE, MD, GA 1 year Ziply Fiber Fiber Construction WA, OR, ID 1 year
Slide 8: Financial Highlights
Financial Highlights 8 Contract Revenues Non-GAAP Adjusted EBITDA Non-GAAP Adjusted Diluted EPS • Contract revenues of $761.5 million increased 10.1% organically after excluding $5.7 million of contract revenues from storm restoration services in the year ago period and adjusting for the additional
Slide 9: Debt and Liquidity Overview
Debt and Liquidity Overview Debt maturity profile and liquidity provide financial flexibility 9 • Solid liquidity of $351.5 million at Q4 2022 • Capital allocation prioritizes organic growth, followed by opportunistic share repurchases and M&A, within the context of the Company’s historical range of
Slide 10: Cash Flow Overview
Cash Flow Overview 10 Operating Cash Flow • Robust operating cash flows of $145.5 million during Q4 2022 • Repurchased 600,000 common shares for $56.1 million at an average price of $93.55 per share during Q4 2022 • Capital expenditures, net of disposals, for fiscal 2023 anticipated at $180 - $190 m
Slide 11: Outlook for Quarter Ending April 30, 2022 (Q1 2023)
Outlook for Quarter Ending April 30, 2022 (Q1 2023) 11 Q1 2023 Outlook: CONTRACT REVENUES Increase mid-to-high single digits as a percentage of contract revenues compared to Q1 2022 NON-GAAP ADJUSTED EBITDA % OF CONTRACT REVENUES Increases modestly as compared to Q1 2022 NON-GAAP ADJUSTED EFFECTIVE
Slide 12: Closing Remarks
Closing Remarks We maintain significant customer presence throughout our markets and are encouraged by the breadth in our business Our extensive market presence has allowed us to be at the forefront of evolving industry opportunities • Telephone companies are deploying FTTH to enable gigabit high sp
Slide 13: Notes
Notes 1. Organic growth (decline) % adjusted for contract revenues from storm restoration services, and for the additional week of operations during the fourth quarter as a result of the Company’s 52/53 week fiscal year, when applicable. 2. Top 5 customers included AT&T, Comcast, Lumen, Verizon, and
Slide 14: The people connecting America
The people connecting America® 14