Dycom Industries Cuts Q2 Outlook - Quick Facts

(RTTNews) - Contracting service provider Dycom Industries Inc. (DY) announced that its revenue and results for the second quarter of fiscal 2014, which ended January 25, 2014, will be below previous guidance. Worse than expected weather during the latter part of the fiscal quarter sharply impacted the company's second quarter results, Dycom said.

For the second-quarter, the company now expects revenue of approximately $390 million and a loss per share ranging from $0.08 to $0.10. Major snowfalls and extremely cold temperatures reduced the number of available workdays and negatively impacted productivity and margins. Analysts polled by Thomson Reuters expect the company to report earnings of $0.08 per share and revenues of $415.39 million for the second-quarter. Analysts' estimates typically exclude special items.

The company said in November that it expected earnings to be in the range of $0.03 to $0.09 per share, with revenues of $400.0 million to $420.0 million for the second-quarter.

In addition, the company stated that adverse weather conditions continued into the beginning of the Company's third fiscal quarter and, accordingly, the Company has lowered its outlook. It now expects total revenue for the third quarter of fiscal 2014 to be essentially in line with the third quarter of fiscal 2013. Previous expectations for the third quarter had been for mid-single digit total revenue growth. Analysts expect the company to report revenues of $460.29 million for the third-quarter.

The company noted that it plans to report full financial results for the second quarter of fiscal 2014 on Tuesday, February 25, 2014, after the close of trading on the New York Stock Exchange.