Dycom Industries (NYSE:DY) kicked off fiscal 2026 with solid results, reporting a 10.2% year-over-year revenue increase in its first quarter and raising its full-year forecast – moves that pushed the stock up 6.9% in early trading on Wednesday.
For the quarter ending April 26, 2025, the specialty contractor brought in $1.259 billion in revenue, up from $1.142 billion during the same period a year ago. Adjusted EBITDA rose 14.9% to $150.4 million, accounting for 11.9% of total revenue.
The company posted net income of $61.0 million, or $2.09 per diluted share, compared to $62.6 million, or $2.12 per share, in the year-ago quarter. Dycom attributed part of this year’s earnings to tax benefits of $0.08 per share from share-based compensation, down from $0.20 last year.
Looking ahead, Dycom raised its fiscal 2026 revenue guidance, now projecting between $5.290 billion and $5.425 billion in revenue – representing an annual growth rate of 12.5% to 15.4%, up from its prior projection of 10.0% to 13.0%.
For the upcoming second quarter, the company expects revenue in the range of $1.38 billion to $1.43 billion, and adjusted EBITDA between $185 million and $200 million.
“Dycom had a strong start to fiscal 2026 with continued progress against our goals, excellent financial and operational performance, and a record backlog,” said CEO Dan Peyovich.
Indeed, Dycom reported a record backlog of $8.127 billion as of the end of the quarter. In addition, the company repurchased 200,000 shares during the period, totaling $30.2 million.