Stock Alert: Dycom Industries Trading 20% Higher On Q1 Results

(RTTNews) - Shares of specialty contracting services provider Dycom Industries, Inc. (DY) are surging more than 20% Tuesday morning after reporting better-than-expected first-quarter results.

EPS on an adjusted basis was a positive surprise $0.36 per share, while analysts polled by Thomson Reuters were expecting a loss of $0.04 per share.

Revenue decreased to $814.32 million from $833.74 million last year. The consensus estimate was at $746.64 million.

During the COVID-19 pandemic, Dycom's services have generally been considered essential in nature and have not been materially interrupted. However, the company expects a downturn in customer demand for its in-home installation services for the duration of the COVID-19 pandemic, and possibly longer, Dycom said.

DY is currently trading at $38.00. It has traded in the range of $12.24- $60.55 in the past one year.