Dycom Industries, Inc. · NYSE:DY
Dycom Industries — Q4 2025 Earnings Presentation
19 slides from Dycom Industries's earnings presentation, Feb 26, 2025
Slide 1: The People Connecting America
A ( THE PEOPLE CONNECTING AMERICA‘ February 26, 2025
Slide 2: Important Information
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 January
Slide 3: Financial Highlights
Financial Highlights Delivered strong revenue growth and margin expansion “Dycom’s strong fourth $ Millions, Except EPS Q4-25 Q4-24 Y/Y quarter and fiscal year Contract Revenues $1,084.5 $952.5 13.9% Organic Revenue Growth1 7.4% results reflect the Adjusted EBITDA $116.4 $93.7 24.2% successful execu
Slide 4: Industry Drivers
Industry Drivers 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 Increasing Demand for Fiber Infrastructure to Support AI-Enabled Data Center
Slide 5: Contract Revenues
Contract Revenues Q4 2025 19.3% Revenue Growth 15.5% 19.3% 13.9% 12.0% Total Top 5 All Other Contract 7.1% 9.0% 9.3% Customers Customers4 Customers4 Revenue 3.8% 9.2% 9.6% 3 7.1% 7.4% Growth1 4.6% 2.5% Total: -2.5% Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 3 Q4 2025 13.9% 14.2% 13.5% T
Slide 6: Backlog and Headcount
Backlog and Headcount Backlog5 $ Billions Employee Headcount 6
Slide 7: Debt and Liquidity Overview
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 2029:6 Term Loan Facility 450.0 450.0 Revolving Facility
Slide 8: Cash Flow Overview
Cash Flow Overview 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 Operating Cash Flow $ Millions Operating cash flow $ 325.1 $ 328.2 $ Millions
Slide 9: Fiscal 2026 Outlook
Fiscal 2026 Outlook Fiscal Year Ending January 31, 2026 For the fiscal year ending January 31, 2026, the Company currently expects total contract revenues to increase 10% to 13% compared to fiscal 2025. Fiscal 2026 will include 53 weeks of operations due to our fiscal calendar, with the extra week o
Slide 10: Q1 2026 Outlook
Q1 2026 Outlook Quarter Ending April 26, 2025 Total Contract Non-GAAP Diluted Revenues Adjusted EBITDA Earnings Per Share $1.16 BILLION $130.6 MILLION $1.50 to $1.73 to $1.20 BILLION to $140.6 MILLION Stock-Based Non-GAAP Amortization Interest Diluted Compensation Effective Income Expense Expense, N
Slide 11: Non-GAAP Reconciliations
Non-GAAP Reconciliations Q4 2025
Slide 12: Explanation of Non-GAAP Financial Measures
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 Non-G
Slide 13: Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Quarterly Non-GAAP Organic Contract Revenues1 Unaudited Revenues Impacts of a $ Millions Growth % Contract from change order and Non-GAAP - Revenues - acquired closeout of Organic Non-GAAP - Quarter Ended GAAP busine
Slide 14: Reconciliation of Non-GAAP Financial Measures (continued)
Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures (continued) Annual Non-GAAP Organic Contract Revenues1 Unaudited Revenues Impacts of a $ Millions Growth % Contract from change order and Non-GAAP - Revenues - acquired closeout of Organic Non-GAAP - Fiscal Year Ende
Slide 15: Reconciliation of Non-GAAP Financial Measures (continued)
Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures (continued) Non-GAAP Organic Contract Revenues1 – Selected Customers Unaudited Revenues $ Millions Contract from Non-GAAP - Growth % Revenues - Acquired Organic Non-GAAP - Quarter Ended GAAP Businesses Revenues GAAP
Slide 16: Reconciliation of Non-GAAP Financial Measures (continued)
Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures (continued) Non-GAAP Adjusted EBITDA Unaudited $ Millions Quarter Quarter Fiscal Year Fiscal Year Ended Ended Ended Ended January 25, January 27, January 25, January 27, 2025 2024 2025 2024 Net income $ 32.7 $ 23.4 $
Slide 17: Reconciliation of Non-GAAP Financial Measures (continued)
Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures (continued) Non-GAAP Adjusted Net Income Unaudited $ and Shares Millions, Except EPS Quarter Quarter Fiscal Year Fiscal Year Ended Ended Ended Ended January 25, January 27, January 25, January 27, 2025 2024 2025 2024
Slide 18: Notes
Notes 1. Non-GAAP Organic Contract Revenues are contract revenues from businesses that are included for the entirety of both the current and prior year periods, excluding contract revenues from certain non- recurring items. Non-GAAP Organic Contract Revenue change percentage is calculated as the cha
Slide 19: The People Connecting America
® The People Connecting America