Why Is Dycom Industries Stock Surging Premarket Wednesday?

Benzinga05-22

Dycom Industries, Inc. (NYSE:DY) shares are trading higher after the company reported its first quarter FY25 results.

Contract revenue increased 9.3% Y/Y to $1.142 billion, beating the consensus of $1.093 billion.

Adjusted EBITDA increased to $130.9 million from $113.5 million a year ago.

EPS of $2.12 surpassed the street view of $1.51.

In the quarter, the company repurchased 210,000 shares for $29.8 million.

Outlook: For the second quarter, Dycom expects organic contract revenues to grow by high-single digits as a percentage of contract revenues and adjusted EBITDA margin to increase 25 to 75 basis points Y/Y.

In addition, the company expects around $70 million of acquired contract revenues for the quarter.

As of April 27, cash and equivalents stood at $26.1 million.

Investors can gain exposure to the stock via First Trust RBA American Industrial Renaissance ETF (NASDAQ:AIRR) and Hilton Small-MidCap Opportunity ETF (NASDAQ:SMCO).

Price Action: DY shares are up 9.72% at $169.40 premarket at the last check Wednesday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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