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Dycom Projects Q2 Results Below Previous Guidance - Quick Facts

Dycom Industries, Inc. (DY) announced, for the quarter ended January 27, 2018, the company expects revenue of approximately $655.0 million, below the midpoint of its previous guidance. Dycom expects adjusted earnings per share ranging from $0.09 - $0.12, which is also below previous guidance. The company said widespread adverse weather reduced the number of available workdays and negatively impacted productivity and margins during the quarter ended January 27, 2018. Margins were also impacted by costs incurred in conjunction with the initiation of large customer programs.

Looking forward, the company provided financial guidance for fiscal 2019 ending January 26, 2019, and updated outlook for the quarter ending April 28, 2018 (first quarter of fiscal 2019). The company said the guidance reflects the anticipated timing of activity on large customer programs and the related impacts on margins as well as consideration of near-term weather conditions.

For the first-quarter, adjusted earnings per share are now expected to range from $0.63 to $0.78; and contract revenues are expected in the range of $720 - $750 million. For fiscal 2019, the company expects adjusted earnings per share of $5.22 - $6.14; and contract revenues of $3.30 - $3.50 billion.

Shares of Dycom were down 7% in pre-market trade on Monday.

The company plans to report full financial results for the second quarter period ended January 27, 2018 on February 28, 2018, before the open of trading on the NYSE.

by RTTNews Staff Writer

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