Dycom Industries Sees Q1 Results Below Market View After Weak Q4 Profit

(RTTNews) - Dycom Industries, Inc. (DY), a provider of specialty contracting services, Wednesday announced that it expects first-quarter earnings per share to range from $0.72 to $0.87. Adjusted earnings per share for the quarter is expected to range from $0.81 to $0.96.

The company currently expects total contract revenues for the first quarter of fiscal 2018 to range from $715 million to $745 million.

On average, eight analysts polled by Thomson Reuters expect earnings of $1.43 per share on revenues of $784.35 million for the quarter. Analysts' estimates typically exclude special items.

In its fourth quarter, net income was $43.7 million, or $1.38 per share, lower than net income of $49.4 million, or $1.54 per share last year.

Adjusted net income was $46.5 million, or $1.47 per share, compared to $52.7 million, or $1.64 per share a year ago.

Contract revenues of $780.2 million declined from $789.2 million last year. Contract revenues grew 4.6% on an organic basis.

Analysts expected earnings of $1.44 per share on revenues of $798.46 million.

Adjusted EBITDA was $118.0 million, or 15.1% of contract revenues, compared to $126.0 million, or 16.0% of contract revenues last year.