Dycom Industries (NYSE:DY) Posts Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Dycom Industries (NYSE:DY) posted its quarterly earnings data on Wednesday. The construction company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.12, FiscalAI reports. Dycom Industries had a return on equity of 21.77% and a net margin of 5.07%.The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the business earned $1.17 EPS. The company’s quarterly revenue was up 34.4% compared to the same quarter last year. Dycom Industries updated its Q1 2027 guidance to 2.570-2.90 EPS.

Here are the key takeaways from Dycom Industries’ conference call:

• Dycom reported record results with Q4 revenue of $1.46 billion and FY2026 revenue of $5.55 billion, posted adjusted EBITDA margin expansion to 13.3% for the year, and guided FY2027 revenue to $6.85–$7.15 billion with continued margin improvement.
• The acquisition of Power Solutions closed Dec. 23, 2025, integration is on schedule, and Dycom expects Building Systems revenue of $1.15–$1.25 billion in FY2027 with mid‑teens adjusted EBITDA margins and early cross‑sell opportunities into data centers.
• Backlog finished at a record $9.542 billion (with $6.358 billion expected to convert in the next 12 months), supported by accelerating fiber‑to‑the‑home demand, BEAD verbal awards that management expects to convert to contracts in Q1/Q2, and growing long‑haul/middle‑mile hyperscaler opportunities.
• Pro forma net leverage was ~2.3x post‑close with management targeting ~2.0x net leverage within ~12 months while maintaining $709.2 million cash (total liquidity $1.46 billion) and strong free cash flow of $435.3 million, though the Power Solutions deal required sizable near‑term financing.
• Management expects revenue headwinds from the wireless equipment replacement program, forecasting roughly a $100 million decline in FY2027 (with a further step‑down in FY2028), and Q4 margins were pressured by severe winter weather and upfront workforce investments.

Dycom Industries Trading Down 4.6%

NYSE DY opened at $369.33 on Friday. The company has a market cap of $10.70 billion, a price-to-earnings ratio of 38.47, a P/E/G ratio of 1.27 and a beta of 1.34. The business has a 50 day moving average price of $382.15 and a 200-day moving average price of $326.72. The company has a quick ratio of 2.90, a current ratio of 2.74 and a debt-to-equity ratio of 1.51. Dycom Industries has a 52 week low of $131.37 and a 52 week high of $445.52.

Wall Street Analyst Weigh In

DY has been the subject of a number of analyst reports. KeyCorp lifted their price target on shares of Dycom Industries from $426.00 to $482.00 and gave the company an “overweight” rating in a research report on Thursday. B. Riley Financial upped their price objective on shares of Dycom Industries from $420.00 to $485.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America increased their target price on Dycom Industries from $365.00 to $475.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Vertical Research started coverage on shares of Dycom Industries in a research note on Tuesday, December 23rd. They issued a “buy” rating and a $420.00 price objective on the stock. Finally, Wells Fargo & Company increased their target price on shares of Dycom Industries from $315.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Dycom Industries has an average rating of “Moderate Buy” and an average target price of $423.70.

Insider Buying and Selling at Dycom Industries

In related news, Director Eitan Gertel sold 3,645 shares of the company’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $345.62, for a total value of $1,259,784.90. Following the sale, the director owned 15,997 shares in the company, valued at $5,528,883.14. This represents a 18.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dycom Industries

Several large investors have recently bought and sold shares of DY. Kemnay Advisory Services Inc. purchased a new position in shares of Dycom Industries in the 4th quarter worth approximately $30,000. Acumen Wealth Advisors LLC purchased a new stake in Dycom Industries during the fourth quarter valued at about $35,000. EverSource Wealth Advisors LLC raised its position in shares of Dycom Industries by 73.1% in the second quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock valued at $39,000 after purchasing an additional 68 shares during the period. IFP Advisors Inc lifted its stake in shares of Dycom Industries by 400.0% during the 3rd quarter. IFP Advisors Inc now owns 140 shares of the construction company’s stock valued at $41,000 after buying an additional 112 shares in the last quarter. Finally, Employees Retirement System of Texas bought a new position in Dycom Industries in the 3rd quarter worth approximately $75,000. 98.33% of the stock is currently owned by institutional investors.

Dycom Industries News Summary

Here are the key news stories impacting Dycom Industries this week:

• Positive Sentiment: Q4 beat and strong top‑line: Dycom reported fiscal Q4 results that topped EPS and revenue estimates and showed ~34% year‑over‑year revenue growth and a record backlog — supporting the company’s growth narrative. Dycom Industries, Inc. Q4 2026 Earnings Call Summary
• Positive Sentiment: Analysts raise targets and ratings: Key analysts (KeyCorp, B. Riley, JPMorgan) raised price targets and moved to overweight/buy, implying significant upside from current levels and signaling confidence in demand and margin trajectory. KeyCorp PT Raised / Street Insider
• Neutral Sentiment: Consensus broker view: Aggregated brokerage coverage still tilts constructive (consensus “Moderate Buy”), reflecting broad analyst support but not unanimous conviction. Dycom Given Consensus Recommendation of “Moderate Buy”
• Negative Sentiment: Shares slipped despite results: Multiple outlets note the stock fell after the print — a sign that investors may be locking in gains after a strong run, focusing on valuation (high P/E) or near‑term cadence vs. long‑term backlog strength. Blockonomi: Stock Drops Despite Record Backlog
• Negative Sentiment: Market reaction and nuance: Coverage notes that while adjusted EBITDA and margins improved, some investors may be digesting forward guidance details, execution risks on large backlog projects, or simply rotating out after the rally. Zacks: Q4 Earnings & Revenues Top, Stock Down

Dycom Industries Company Profile

Dycom Industries, Inc (NYSE: DY) is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom’s services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom’s customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.