Dycom Industries Inc., a leading provider of specialty contracting services in the telecommunications infrastructure and utility industries, reported its first-quarter fiscal 2026 financial results on May 21, 2025. The company showed a rise in overall performance, with total contract revenues of $1.259 billion, reflecting a 10.2% increase compared to $1.142 billion in the same quarter last year. Adjusted EBITDA for the quarter was $150.4 million, or 11.9% of total revenues, which is an increase of 14.9% year-over-year.

Net income for the quarter stood at $61 million, down slightly from $62.6 million in the previous year, resulting in diluted earnings per share of $2.09 compared to $2.12 in Q1 2025. The results benefitted from a $2.2 million income tax benefit derived from share-based awards, a decrease from $5.9 million a year earlier.

The company repurchased 200,000 shares for $30.2 million during the quarter. As of April 26, 2025, Dycom’s record backlog reached $8.127 billion, including a $4.685 billion backlog projected to be completed in the next 12 months.

For fiscal 2026, Dycom has increased its full-year revenue guidance to a range of $5.29 billion to $5.425 billion, representing a growth rate of 12.5% to 15.4% versus the prior year. This is a revision from the previous estimate of a 10% to 13% growth range. For the second quarter of fiscal 2026, the company projects contract revenues of $1.38 billion to $1.43 billion, along with adjusted EBITDA of $185 million to $200 million and diluted EPS of $2.74 to $3.05 per share.

Additionally, during the past quarter, Dycom reported positive dynamics from its service and maintenance business, which has been integral to sustaining revenue streams. The total Days Sales Outstanding (DSO) decreased to 111 days, down 3 days sequentially from the previous quarter. The company noted that its operating cash flow showed a usage of $54 million in the quarter, reflecting the seasonal demands attributed to revenue growth.

Overall, the quarter highlighted Dycom’s ability to expand its revenue and maintain operational efficiency in a competitive environment.