Dycom Industries, Inc. · NYSE:DY
Dycom Industries — Investor Presentation (March 2025)
33 slides from Dycom Industries's investor presentation, Mar 3, 2025
Slide 1: Investor Presentation March 2025
Exhibit 99.1 Investor Presentation March 2025
Slide 2: Important Information: Caution Concerning Forward-Looking Statements
2 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 outlook for the fiscal year ending Januar
Slide 3: Who We Are
3 Who We Are Nationwide footprint with 15,000+ employees across field offices throughout all 50 states Significant scale $4.7 Billion of contract revenues & $576 Million of Adjusted EBITDA in fiscal 2025 Durable customer relationships with well established, leading telecommunications providers that
Slide 4: Program Management, Engineering, Construction, Maintenance, Locating and Fulfillment Services
4 Program Management From the smallest town to the largest city, we manage telecommunications projects that connect America Engineering Our integrated engineering teams work hand-in-hand with construction and logistics teams throughout the full lifecycle of a project Wireline and Wireless Constructi
Slide 5: Financial Highlights
5 Financial Highlights Delivered strong revenue growth and margin expansion “Dycom’s strong fourth quarter and fiscal year results reflect the successful execution of our strategy and our ability to meet growing industry demand while sustaining the highest level of quality in our work.” - Dan Peyovi
Slide 6: Strong Secular Trend Around High-Speed Connectivity
6 Strong Secular Trend Around High-Speed Connectivity Dramatically increased speeds for consumers are being provisioned and consumer data usage is growing • In 4Q24, the percentage of Power Users consuming 1 TB or more per month increased 13% year-over-year to 24.3% • The category of Super Power Use
Slide 7: Multiple Industry Tailwinds Driving Sustainable Growth
7 Multiple Industry Tailwinds Driving Sustainable Growth Increasing amounts of capital in the industry for the deployment and operation of high-capacity telecommunications and digital infrastructure Multi-Year Capital Commitments for Fiber-to-the-Home Deployments Continued State and Federal Program
Slide 8: Key Driver: Fiber-to-the-Home
8 76.5 76.5 0 50 100 150 First Passings as of 2024 Homes Available - Urban, Suburban & Rural U.S. Homes Fiber First Passings In Millions Key Driver: Fiber-to-the-Home • Private capital estimated to fund fiber deployments that ultimately address ~80% of homes in the U.S. • Certain urban and suburban
Slide 9: Key Driver: Fiber Infrastructure to Support AI-Enabled DC Growth
9 Key Driver: Fiber Infrastructure to Support AI-Enabled DC Growth Increasing demand for fiber infrastructure to support AI-enabled data center growth • In 2025, MAMAA(a) is set to invest $320 billion in CapEx, primarily fueling AI infrastructure. This marks a $100 billion increase from last year, u
Slide 10: Key Driver: State and Federal Spending on Communications Infrastructure
10 Key Driver: State and Federal Spending on Communications Infrastructure Select US Government Programs: State Broadband Programs Substantial state level broadband expansion programs, such as California’s $6 billion broadband investment that includes middle mile and last mile projects(a) Rural Digi
Slide 11: Local Credibility, National Capability
11 Local Credibility, National Capability Dycom combines local knowledge with national reach Operating Subsidiaries Corporate headquarters Subsidiary headquarters Branch location
Slide 12: Durable Customer Relationships
12 Durable Customer Relationships Reduced customer concentration and increased revenues demonstrates the depth and breadth of our business serving well-established investment grade customers Total Revenues in Millions and % of Total Revenues
Slide 13: Anchored by Long-Term Agreements
13 Anchored by Long-Term Agreements • Dycom is party to hundreds of MSA’s and other agreements with customers that extend for periods of one or more years • Generally multiple agreements maintained with each customer • Master Service Agreements (MSA’s) are multi-year, multi-million dollar arrangemen
Slide 14: 10+ Years of Robust Cash Flow Generation
14 10+ Years of Robust Cash Flow Generation Robust cash flow generation and prudent capital allocation provide strong foundation for returns Strong operating cash flows of $2.466 billion over 10+ years Prudent approach to capital allocation: • $707 million invested in share repurchases • $541 millio
Slide 15: Financial Update
Financial Update
Slide 16: Annual Trends
Annual Trends Contract Revenues $4,702 $4,176 2 $3,808 = FY 2023 FY 2024 FY 2025 Contract Revenue Growth %? 21.7% 21.7% 96% 12.6% 6.9% 6.8% FY 2023 FY 2024 FY 2025 Total Revenue Growth —-Orgenic Revenue Growth Non-GAAP Adjusted EBITDA $ Millions FY 2023 FY2024 FY 2025 mmm Non-GAAP Adjusted EBITDA —=
Slide 17: Quarterly Trends
Quarterly Trends Contract Revenues S Millions $1,136 guaaz $1203 Se 045 $1, $1,085 [ | ] l l L | | | 912024 Q22024 Q32024 942024 Q12025 922025 Q32025 Q42025 Contract Revenue Growth (Decline) %? mee 15.5% ttn 8% 9.2% 9.6%" 7 40 (2.5)% @12024 Q22024 Q32024 Q42024 Q12025 Q22025 Q32025 Q42025 —TotelReve
Slide 18: Debt and Liquidity Overview
18 Debt and Liquidity Overview Debt maturity profile and strong liquidity position provide financial flexibility Debt Summary Q3 2025 Q4 2025 $ Millions 4.50% Senior Notes, mature April 2029 $ 500.0 $ 500.0 Senior Credit Facility, matures January 2029:5 Term Loan Facility 450.0 450.0 Revolving Facil
Slide 19: Cash Flow Overview
19 Cash Flow Overview Operating Cash Flow Capital allocation prioritizes organic growth, followed by M&A and opportunistic share repurchases, within the context of the Company’s historical range of net leverage Cash Flow Summary Q4 2024 Q4 2025 $ Millions Operating cash flow $ 325.1 $ 328.2 Capital
Slide 20: Capital Allocated to Maximize Returns
20 Capital Allocated to Maximize Returns Invest in Organic Growth Focus on organic growth opportunities through strategic capital investments in the business Pursue Complementary Acquisitions Selectively acquire businesses that further strengthen our customer relationships, geographic scope, and tec
Slide 21: Outlook (slide used February 26, 2025)
21 This slide was used on February 26, 2025 in connection with the Company’s conference call for its fiscal 2025 fourth quarter and annual results. This information is provided for your reference only and should not be interpreted as a reiteration of these projections by the Company at any time afte
Slide 22: Outlook (slide used February 26, 2025)
22 This slide was used on February 26, 2025 in connection with the Company’s conference call for its fiscal 2025 fourth quarter and annual results. This information is provided for your reference only and should not be interpreted as a reiteration of these projections by the Company at any time afte
Slide 23: Non-GAAP Reconciliations
Non-GAAP Reconciliations
Slide 24: Explanation of Non-GAAP Financial Measures
24 Explanation of Non-GAAP Financial 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 may use or discuss No
Slide 25: Quarterly Non-GAAP Organic Contract Revenues
25 Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Quarterly Non-GAAP Organic Contract Revenues2 Unaudited Contract Revenues - GAAP Revenues from acquired businesses Impacts of a change order and closeout of several projects3 Non-GAAP - Organic Revenues Growth %$
Slide 26: Annual Non-GAAP Organic Contract Revenues
26 Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures (continued) Annual Non-GAAP Organic Contract Revenues2 Amounts above may not add due to rounding. Unaudited Contract Revenues - GAAP Revenues from acquired businesses Impacts of a change order and closeout of seve
Slide 27: Quarterly Non-GAAP Adjusted EBITDA
27 Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures (continued) Quarterly Non-GAAP Adjusted EBITDA Unaudited $ Millions Quarter Ended Quarter Ended Quarter Ended Quarter Ended Quarter Ended Quarter Ended Quarter Ended Quarter Ended January 25, 2025 October 26, 2024
Slide 28: Annual Non-GAAP Adjusted EBITDA
28 Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures (continued) Annual Non-GAAP Adjusted EBITDA Unaudited $ Millions Fiscal Year Ended Fiscal Year Ended Fiscal Year Ended January 25, 2025 January 27, 2024 January 28, 2023 Net income $ 233.4 $ 218.9 $ 142.2 Interest
Slide 29: Quarterly Non-GAAP Adjusted Net Income
29 Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures (continued) Quarterly Non-GAAP Adjusted Net Income Unaudited $ and Shares Millions, Except EPS Quarter Ended Quarter Ended Quarter Ended Quarter Ended Quarter Ended Quarter Ended Quarter Ended Quarter Ended Januar
Slide 30: Annual Non-GAAP Adjusted Net Income
30 Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures (continued) Annual Non-GAAP Adjusted Net Income Unaudited $ and Shares Millions, Except EPS Fiscal Year Ended Fiscal Year Ended Fiscal Year Ended January 25, 2025 January 27, 2024 January 28, 2023 Net income $ 233
Slide 31: Calculation of Cumulative Cash Flows
31 Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures (continued) Calculation of Cumulative Cash Flows Fiscal 2015 through Fiscal 2025 Unaudited $ Millions Net Cash Provided by Operating Activities Capital Expenditures, net of Proceeds from Asset Sales Cash Paid for
Slide 32: Footnotes
32 1. 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 those contracts. These estimates are based on contract terms and evaluations regarding the timing of the services to be provided. In
Slide 33: The People Connecting America
® The People Connecting America
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