Dycom Industries Inc. (DY) Tuesday said third-quarter profit dropped to $7.2 million or $0.21 per share from $9.6 million or $0.28 per share in the comparable quarter last year.
On average, seven analysts polled by Thomson Reuters expected the company to earn $0.17 per share for the quarter. Analysts' estimates typically exclude special items.
Contract revenues totaled $437.4 million, up from $296.1 million last year. Analysts expected revenues of $410.20 million.
Looking ahead to the fourth quarter, the company has forecast earnings in the range of $0.40 to $0.47 per share, with revenues in the order of $455.0 million to $475.0 million last year.
Analysts, based on consensus, currently expect the company to report third-quarter profit of $0.38 per share on revenues of $440.97 million.
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