Dycom Inds Inc - DY STOCK NEWS

Dycom Industries, Inc. (NYSE: DY) will participate in a virtual fireside chat at the 2021 KeyBanc Industrials & Basic Materials Conference on June 1, 2021, at 3:20 p.m. ET. The event will provide insights from Dycom's senior management, who will also engage in one-on-one virtual meetings throughout the day. A live audio webcast will be accessible on Dycom's Investor Center website, with a replay available for 30 days.

As a leading specialty contracting services provider in the U.S., Dycom supports telecommunications and utility sectors with various services.

Dycom Industries (NYSE: DY) reported first quarter results for fiscal 2022, showing contract revenues of $727.5 million, down 11.1% from $814.3 million a year prior. Non-GAAP Adjusted EBITDA was $44.1 million, representing 6.1% of revenues, compared to $69.9 million and 8.6% last year. The company achieved a net income of $0.9 million ($0.03 per share), improving from a net loss of $32.4 million a year earlier. However, a Non-GAAP Adjusted Net Loss of $1.2 million ($0.04 per share) was reported. The outlook indicates potential revenue decline for the next quarter.

Dycom Industries, Inc. (NYSE: DY) is set to host a conference call on May 25, 2021, at 9:00 a.m. Eastern time to discuss its fiscal 2022 first quarter results. A press release will be issued earlier that day detailing the financial outcomes. Interested parties can participate via telephone or through a live webcast on the company's Investor Center website. A replay will be available for 120 days post-event. Dycom specializes in providing various contracting services, including those for telecommunications and utility sectors across the United States.

Dycom Industries, Inc. (NYSE: DY) has priced $500 million in senior notes with a 4.50% interest rate due April 15, 2029, increased from an initial $400 million. The notes will fund the repayment of existing credit facilities and convertible senior notes. The offering is exempt from registration under the Securities Act and targets qualified institutional buyers. Dycom plans to close the offering by April 1, 2021, pending customary conditions. The company also plans to amend its senior credit facility, creating a $650 million revolving credit facility and a $350 million term loan.

Dycom Industries, Inc. (DY) has announced a private offering of $400 million in senior notes due 2029. These notes will be guaranteed by its domestic subsidiaries and offered solely to qualified institutional buyers under the Securities Act. The company plans to allocate approximately $66.3 million for repaying its term loan, $105 million for the revolving credit facility, and $58.3 million to redeem convertible senior notes due September 2021. Dycom is also seeking to amend its existing credit facility to include a $650 million revolving credit and a $350 million term loan.

Dycom Industries has authorized a $150 million stock repurchase program, aimed at enhancing shareholder value. This program will be executed over the next 18 months through open market purchases or negotiated transactions. As of March 2, 2021, the company had 30,615,908 shares outstanding, not including options and unvested restricted stock. Timing and amounts will depend on market conditions, with no obligation to repurchase a specific quantity of shares. This move reflects confidence in the company’s financial health and future performance.

Dycom Industries reported its fourth quarter results for the fiscal year ended January 30, 2021, showing contract revenues of $750.7 million, up from $737.6 million a year prior.

Despite a 6.2% organic revenue decline, Non-GAAP Adjusted EBITDA improved to 6.1% of revenues. The company reported a net loss of $4.2 million, an improvement from a loss of $11.2 million in the previous year. For the fiscal year, total revenues dropped to $3.199 billion from $3.340 billion. Looking ahead, contract revenues are expected to be stable to slightly lower in the upcoming quarter.

Dycom Industries, Inc. (NYSE: DY) will host a conference call on March 3, 2021, at 9:00 a.m. Eastern time to discuss its fiscal 2021 fourth quarter results. A press release detailing the results will be issued earlier that morning. Interested parties can join the call by dialing (833) 519-1313 in the U.S. or (914) 800-3879 internationally, using conference ID 2407007. A live webcast and related materials will be available on the Company's Investor Center website, with a replay accessible for approximately 120 days post-event.

Dycom Industries, Inc. (NYSE: DY) will participate in the Truist 2020 Industrials and Services Virtual Summit on December 8, 2020. Senior management will present, and presentation materials will be accessible on Dycom's Investor Center website until January 7, 2021. Dycom is a leading provider of specialty contracting services, including program management, planning, and construction for telecommunications and utility companies. For more information, visit dycomind.com.