Dycom Industries Q4 Results Climb, Top Estimates; Sees Growth In Q1

(RTTNews) - Specialty contracting services firm Dycom Industries, Inc. (DY) reported Wednesday that its fourth-quarter net income grew significantly to $24.81 million or $0.83 per share from last year's $0.8 million or $0.03 per share in the year ago period.

On average, eight analysts polled by Thomson Reuters expected earnings of $0.13 per share for the quarter. Analysts' estimates typically exclude special items.

Asjusted EBITDA was $83.1 million, or 9.1 percent of contract revenues, higher than prior year's $43.3 million, or 5.7 percent of contract revenues.

Contract revenues were $917.47 million for the quarter, an increase of 20.5 percent from $761.48 million in the year ago period. Analysts expected revenues of $814.27 million for the quarter.

Looking ahead for the first quarter, the company expects contract revenues to increase mid- to high-single digit. Adjusted EBITDA as a percentage of contract revenues is expected to increase modestly for the quarter.

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