Dycom sees Q3 contract revenue up mid- to high single digits

Q3 revenue consensus $1.26B. For the quarter ending October 26, 2024, the company expects total contract revenues to increase mid- to high single digit as a percentage of contract revenues, compared to $1.136B for the quarter ended October 28, 2023. Included in the expectation for the current quarter is approximately $75M of acquired revenues, compared to the prior year period that included $45.2 million of acquired revenues and $26.5 million of revenues from the impacts of a change order and the closeout of several projects. Non-GAAP Adjusted EBITDA as a percentage of contract revenues for the quarter ending October 26, 2024 is expected to increase approximately 25 to 50 basis points compared to 12.9% for the quarter ended October 28, 2023, after excluding 1.8% of incremental benefit in EBITDA margin from the impacts of a change order and the closeout of several projects reported in the prior year period.