BUZZ-Dycom Industries rises on upbeat forecast, $1.95 billion deal to buy Power Solutions

Reuters11-19
BUZZ-Dycom Industries rises on upbeat forecast, $1.95 billion deal to buy Power Solutions

** Shares of telecommunications contractor Dycom Industries DY.N rise 7.8% to $319.36 premarket, on track to open at a record high

** Co narrows FY26 revenue forecast range to $5.35 bln - $5.425 bln from previous estimate of $5.29 bln - $5.425

** DY also announces deal to acquire Power Solutions, a data center electrical contractor, valued at $1.95 billion

** DY beats Q3 profit estimates, cites "accelerating fiber builds, a massive ramp-up in data center needs, and the much anticipated arrival of BEAD"

** Broadband Equity, Access, and Deployment (BEAD) is a U.S. federal program to improve internet access in under-served areas

** DY beats profit estimates for seventh straight quarter, as per LSEG data

** All 9 brokerages rate the stock "buy" or higher; their median PT is $312.5 - LSEG

** DY up 70.2% YTD vs nearly 13% gain for S&P 500 .SPX

(Reporting by Utkarsh Tushar Hathi)

((utkarshtushar.hathi@thomsonreuters.com))

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