Dycom Prelim. Q2 Results Below Previous Guidance - Quick Facts

(RTTNews) - Dycom Industries, Inc. (DY) announced the company projects second-quarter non-GAAP adjusted earnings per share in the range of $1.05 - $1.08, below its previous guidance range of $1.13 - $1.28. Contract revenues are expected to be at $799.5 million, below the previous guidance range of $830 - $860 million.

The company revised its financial guidance for the 2019 fiscal year to reflect the preliminary results for the second quarter and the current expectations for the remainder of the fiscal year. Non-GAAP EPS is now expected in a range of $2.62 - $3.07, revised from prior outlook range of $4.26 - $5.15. Contract revenues are now expected in the range of $3.01 - $3.11 billion, below the prior guidance range of $3.23 - $3.43 billion.

"Despite disappointing results for the quarter and near-term trends, we are pleased with our substantial backlog growth and remain confident in our industry's opportunities," said Steven Nielsen, President and CEO of Dycom.