Dycom Industries: Fiscal 3Q Earnings Snapshot
PALM BEACH GARDENS, Fla. (AP) _ Dycom Industries Inc. (DY) on Tuesday reported fiscal third-quarter earnings of $27.8 million.
On a per-share basis, the Palm Beach Gardens, Florida-based company said it had net income of 87 cents. Earnings, adjusted for amortization costs, came to 98 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.
The provider of specialty contracting services posted revenue of $848.2 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $805.8 million.
For the current quarter ending in January, Dycom Industries expects its per-share earnings to range from 2 cents to 24 cents.
The company said it expects revenue in the range of $695 million to $745 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $714.5 million.
Dycom Industries expects full-year earnings in the range of $2.70 to $2.92 per share, with revenue ranging from $3.07 billion to $3.12 billion.
Dycom Industries shares have fallen 36 percent since the beginning of the year. The stock has declined 21 percent in the last 12 months.