Slide 1: Fiscal 2013 3rd Quarter Presentation
Fiscal 2013 3rd Quarter Presentation May 22, 2013 Exhibit 99.2
Slide 2: Participants
2 Participants Steven E. Nielsen President & Chief Executive Officer H. Andrew DeFerrari Chief Financial Officer Richard B. Vilsoet General Counsel
Slide 3: Forward-Looking Statements and Non-GAAP Information
3 Forward-Looking Statements and Non-GAAP Information Fiscal 2013 third quarter results are unaudited. This presentation contains “forward-looking statements” which are statements relating to future events, future financial performance, strategies, expectations, and the competitive environment. All
Slide 4: Q3-2013 Overview
4 Q3-2013 Overview Contract revenue of $437.4 million as compared to $296.1 million in the prior year quarter After excluding revenues from acquired subsidiaries of $122.9 million, contract revenues grew 6.2% organically Adjusted EBITDA of $44.0 million, or 10.1% of revenue, grew 47.3% year ov
Slide 5: Revenue Summary
5 Revenue Summary Top 5 customers represented 59.1% of revenue in Q3-13 compared to 59.0% in Q3-12 AT&T, Dycom’s largest customer, grew organically 86.8% year over year CenturyLink, Dycom’s second largest customer, at 14.3% of revenue Comcast, Dycom’s third largest customer, grew organically
Slide 6: Backlog and Awards
6 Backlog and Awards Current Awards and Extensions Customers Description Area Approximate Term (in years) AT&T Construction and Maintenance Services Georgia, Tennessee, Kentucky 3 Time Warner Cable Construction and Maintenance Services Maine, New Hampshire, Massachusetts, New York, North Carolina
Slide 7: Contract Revenues and Summary Results
7 $296.1 $314.5 $100 $150 $200 $250 $300 $350 $400 $450 Q3-12 Q3-13 Contract Revenues ($ in millions) $437.4 Acquired Subsidiaries $122.9 86.5% 10.9% 2.6% 88.0% 7.3% 4.7% 0% 20% 40% 60% 80% 100% Telecommunications Underground Facility Locating Electric and Gas Utilities and Other Construction Mainte
Slide 8: Selected Information
8 Selected Information ($ in millions)(a)(b) Q3-13 Q3-12 Change Contract Revenues $ 437.4 $ 296.1 $ 141.3 Cost of Earned Revenues $ 357.7 81.8% $ 241.4 81.5% $ 116.3 General & Administrative $ 38.2 8.7% $ 27.0 9.1% $ 11.2 Depreciation & Amortization $ 24.5 $ 15.6 $ 9.0 Interest Expense, net $ 6.6 $
Slide 9: Cash Flow and Liquidity
9 $(8.2) $19.4 $51.4 $(2.4) $(3.3) $27.7 $63.5 $0.1 $26.6 $14.4 $20.1 $7.8 $10.6 $10.5 $15.7 $15.1 -$15 -$5 $5 $15 $25 $35 $45 $55 $65 $75 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13 Q2-13 Q3-13 Cash Flows from Operating Activities and Cap-ex, net of disposals ($ in millions) Cash Flows from Operating Activ
Slide 10: Summary
10 Summary Firm end market opportunities Industry participants aggressively extending or deploying fiber networks to provide wireless backhaul services Cable operators continuing to deploy fiber to small and medium businesses Wireless carriers upgrading from 3G to 4G technologies Telephone
Slide 11: Looking Ahead: Outlook
11 Looking Ahead Outlook Contract Revenues Continued total and organic revenue growth as services to wireless carriers remain robust, cable construction strengthens and customers maintain growing expenditures Gross Margin % Improving margin trends as legacy margins remain solid and integration activ
Slide 12: Looking Ahead: Q4-2013 Outlook
12 Looking Ahead Q4-2013 Outlook (all amounts are estimates - actual amounts may differ) ($ in millions) Q4-2012 Q4-2013 Y-O-Y Comments Contract Revenues- (Non-GAAP for Q4-12) $315.8 (excluding $2.3 million of storm revenues) $455.0 - $475.0 (including $120.0 - $130.0 from acquired subsidiaries) Mid
Slide 13: Appendix: Regulation G Disclosure
13 Appendix: Regulation G Disclosure The above table presents the Non-GAAP financial measure of Adjusted EBITDA for the three months and nine months ended April 27, 2013 and April 28, 2012, and a reconciliation of Adjusted EBITDA to the most directly comparable GAAP measure. Adjusted EBITDA is a Non
Slide 14: Appendix: Regulation G Disclosure
14 Appendix: Regulation G Disclosure The items reconciling "GAAP" to “Non-GAAP” financial measures are specifically described below: (a) Acquisition related costs. (b) Write-off of deferred financing costs. (c) Provision for income taxes includes the tax effect of the other reconciling items identif
Slide 15: Appendix: Regulation G Disclosure
15 (a) Year-over-year growth (decline) percentage is calculated as follows: (i) revenues in the quarterly period less (ii) revenues in the comparative prior year quarter period; divided by (iii) revenues in the comparative prior year quarter period. (b) Revenues from subsidiaries acquired has been i
Slide 16: Appendix: Regulation G Disclosure
16 Appendix: Regulation G Disclosure (a) Year-over-year growth percentage is calculated as follows: (i) revenues in the quarterly period less (ii) revenues in the comparative prior year quarter period; divided by (iii) revenues in the comparative prior year quarter period. Amounts may not foot due t
Slide 17: Additional Information - Acquired Subsidiaries
17 Additional Information - Acquired Subsidiaries (a) Estimated future amortization are based on the Company’s preliminary allocation of the purchase price which is subject to revision as additional information about fair value of intangible assets becomes available. Amortization of Intangibles of A
Slide 18: Fiscal 2013 3rd Quarter Presentation
Fiscal 2013 3rd Quarter Presentation May 22, 2013