Dycom Industries Q4 2026 Earnings Report: Revenue, Net Income, and Financial Highlights

Dycom Industries, Inc. Reports Record Fiscal 2026 Q4 and Full-Year Results, Announces Strategic Acquisition and Strong Outlook for 2027

Key Highlights from the Report

Record Q4 Revenues and Earnings: Dycom Industries, Inc. (“the Company”) reported record results for the fourth quarter and full fiscal year 2026, exceeding the top end of its revenue outlook.
Substantial Organic Growth: Q4 contract revenues reached \$1.458 billion, representing a 34.4% increase year-over-year, with organic growth of 16.6%.
Strong Profitability: Q4 net income was \$16.3 million (\$0.55 per diluted share), with adjusted net income at \$60.5 million (\$2.03 per diluted share). Adjusted EBITDA was \$162.4 million.
Annual Performance: Fiscal 2026 net income totaled \$281.2 million (\$9.56 per diluted share), adjusted net income was \$352.1 million (\$11.97 per diluted share), and adjusted EBITDA reached \$737.7 million (13.3% of contract revenues).
Operational Excellence: The company generated \$642.5 million in operating cash flow and \$435.3 million in free cash flow for the year, reflecting strong operational execution.
Strategic Acquisition: Dycom completed the acquisition of Power Solutions, accelerating its entry into the high-growth data center market.
Segment Reporting Update: The company implemented a new segment structure with two reportable segments: Communications and Building Systems, to better reflect its expanding service platform and strategic focus.
2027 Financial Outlook: Management projects continued organic contract revenue growth and adjusted EBITDA margin expansion for fiscal 2027.
Q1 2027 Guidance: For the quarter ending May 2, 2026, Dycom expects:
- Contract revenues of \$1.64 billion to \$1.71 billion
- Non-GAAP adjusted EBITDA of \$202 million to \$218 million
- Non-GAAP adjusted diluted EPS (excluding amortization) of \$2.57 to \$2.90

Important Developments and Potential Share Price Impacts

Record Financial Performance: The company’s record revenues and earnings for both Q4 and the full year signal robust demand and effective execution, which are likely to be viewed positively by investors.
Strategic Expansion: The acquisition of Power Solutions positions Dycom to capitalize on the rapidly growing data center infrastructure market, opening new revenue streams and diversification opportunities.
Segment Realignment: The shift to two reportable segments—Communications and Building Systems—demonstrates management’s focus on transparency and alignment with market opportunities, which could improve investor confidence and potentially lead to a re-rating of the stock.
Strong Cash Generation: The company’s record free cash flow provides significant financial flexibility for further growth initiatives, debt reduction, or capital returns to shareholders.
Positive Forward Guidance: The robust Q1 2027 outlook, with anticipated sequential growth in revenues, earnings, and margins, may drive positive sentiment and upward movement in Dycom’s share price.
Risks and Forward-Looking Statements: Management highlighted several risks, including economic trends, customer spending priorities, supply chain challenges, and regulatory uncertainties. While the outlook is positive, investors should monitor these factors closely.

Detailed Financial Results

Fourth Quarter Fiscal 2026

Contract revenues: \$1.458 billion (up 34.4%; organic growth 16.6%)
Net income: \$16.3 million (\$0.55 per diluted share)
Adjusted Net Income: \$60.5 million (\$2.03 per diluted share)
Adjusted EBITDA: \$162.4 million

Full Year Fiscal 2026

Net income: \$281.2 million (\$9.56 per diluted share)
Adjusted Net Income: \$352.1 million (\$11.97 per diluted share)
Adjusted EBITDA: \$737.7 million (13.3% of contract revenues)
Operating cash flow: \$642.5 million
Free cash flow: \$435.3 million

Q1 Fiscal 2027 Outlook

Contract revenues: \$1.64 billion to \$1.71 billion
Non-GAAP Adjusted EBITDA: \$202 million to \$218 million
Non-GAAP Adjusted Diluted EPS: \$2.57 to \$2.90

Strategic Initiatives and Segment Update

In the fourth quarter, Dycom revised its segment reporting to two reportable segments: Communications and Building Systems. This change aligns the company’s reporting structure with strategic growth areas and enhances investor clarity on business drivers and opportunities.

The acquisition of Power Solutions is a major move, accelerating Dycom’s entry into the fast-growing data center market—a sector experiencing robust investment as cloud and AI infrastructure expands.

Use of Non-GAAP Measures

The company emphasizes the use of non-GAAP financial measures (such as adjusted EBITDA, adjusted net income, and free cash flow) to provide a clearer picture of underlying performance. Management excludes items like stock-based compensation modifications, acquisition-related costs, and losses on debt extinguishment from these metrics to better reflect ongoing operations.

Risks and Forward-Looking Statements

Dycom’s management notes that forward-looking statements are subject to risks including economic uncertainty, changes to customer budgets, supply chain constraints, labor availability, regulatory changes, and other factors. Investors are encouraged to review the company’s SEC filings for a comprehensive discussion of risks.

Contact Information

For further information, investors can contact:

Callie Tomasso, Vice President Investor Relations & Corporate Communications
Email: [email protected]
Phone: (561) 627-7171

Disclaimer: This article is a summary and interpretation of Dycom Industries, Inc.’s official filings and investor materials as of March 4, 2026. It is intended for informational purposes only and does not constitute investment advice. Investors should consult the company’s official SEC filings and speak with a qualified financial advisor before making any investment decisions. Past performance and forward-looking statements are not guarantees of future results.