Dycom Industries Q2 Net Income Rises; Contract Revenues Up 7.1%

(RTTNews) - Dycom Industries, Inc. (DY) reported second-quarter net income of $60.2 million, or $2.03 per share, compared to $43.9 million, or $1.46 per share, prior year. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $1.66, for the quarter. Analysts' estimates typically exclude special items.

Contract revenues were $1.04 billion, compared to $972.3 million in the year ago quarter, an increase of 7.1%. Analysts on average had estimated $1.03 billion in revenue.

For the third quarter, Dycom expects organic contract revenues to be in line with contract revenues for the quarter ended October 29, 2022. The company projects approximately $30 million of acquired contract revenues for the third quarter.

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