Thu, May 22, 12:07 PM (22 days ago)
**Dycom Industries, Inc. (DY) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $1.259 billion, up from $1.142 billion in Q1 2024. - **Net Income:** $61.0 million, slightly down from $62.6 million in Q1 2024. - **Earnings per Share (EPS):** $2.11, down from $2.15 in Q1 2024. - **Profit Margins:** Operating margin at 6.2%, down from 6.8% in Q1 2024. - **Cash Flow:** Net cash used in operating activities was $54.0 million, compared to $37.4 million in Q1 2024. **Key Metrics & Trends:** - **Contract Revenues:** Increased by $116.2 million, with $111.9 million from acquired businesses. - **Costs of Earned Revenues:** Increased to $1.011 billion, or 80.3% of contract revenues. - **General and Administrative Expenses:** Increased to $103.7 million, or 8.2% of contract revenues. - **Depreciation and Amortization:** Increased to $58.4 million, or 4.6% of contract revenues. - **Interest Expense:** Increased to $14.0 million due to higher outstanding borrowings. - **Other Income:** Decreased to $7.3 million, primarily due to fewer asset sales. **Uncertainties & Future Operations:** - **Customer Concentration:** Highly concentrated, with AT&T and Lumen Technologies contributing 35.7% of total contract revenues. - **Seasonality:** Q1 typically experiences reduced revenue and profitability due to adverse weather and holidays. - **Acquisitions:** Completed three acquisitions in fiscal 2025, expanding geographic presence and customer base. - **Credit Agreement:** In compliance with financial covenants, with $513.5 million borrowing availability. - **Backlog:** Totaled $8.127 billion, with 57.6% expected to be completed in the next twelve months. **Market Risks & Forward-Looking Statements:** - **Market Risks:** Primary exposure to interest rate changes. - **Forward-Looking Statements:** Subject to risks and uncertainties, including economic conditions, customer capital budgets, and regulatory actions. **Stock Repurchase Program:** - **Authorized:** $150 million program to repurchase shares through August 2026. - **Q1 2025:** Repurchased 200,000 shares for $30.2 million, with $119.8 million remaining. **Disclosure Controls & Procedures:** - Effective as of April 26, 2025, with no changes in internal control over financial reporting. **Legal & Risk Factors:** - No material changes in legal proceedings or risk factors from previous filings.