DYCOM INDUSTRIES Reports Record Fourth Quarter Results for Fiscal Year 2023
March 20, 2023
Earnings Overview
On March 1 2023, DYCOM INDUSTRIES ($NYSE:DY) announced its fiscal year 2023 fourth quarter results for the period ending January 31 2023. The total revenue grew by an impressive 3040.5% year-over-year, totaling USD 24.8 million. Additionally, net income also increased to USD 917.5 million for the same period, representing a year-over-year growth of 20.5%.
Price History
The stock opened at $94.5 and closed at $97.0, soaring by 15.2% from the prior closing price of 84.2. The record fourth quarter results were driven by strong growth in both its Engineering and Construction and Telecommunications segments. The Telecommunications segment reported an 8% increase in revenues on the back of higher customer demand for digital services and wireless solutions. The company’s performance was driven by strong growth across its Engineering and Construction and Telecommunications segments, and it is expected that these trends will continue into the next fiscal year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Dycom Industries. More…
| Total Revenues | Net Income | Net Margin |
| 3.81k | 142.21 | 3.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Dycom Industries. More…
| Operations | Investing | Financing |
| 164.79 | -183.93 | -67.43 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Dycom Industries. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.31k | 1.44k | 29.6 |
Key Ratios Snapshot
Some of the financial key ratios for Dycom Industries are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.5% | 21.4% | 5.8% |
| FCF Margin | ROE | ROA |
| -0.9% | 16.0% | 6.0% |
Analysis
At GoodWhale, we analyzed the financials of DYCOM INDUSTRIES and found that it has a high health score of 8/10 considering its cashflows and debt, indicating that it is capable to sustain future operations even in times of crisis. We used our Star Chart to identify the company’s strengths and weaknesses and found that it is strong in growth, medium in asset, profitability and weak in dividend. Therefore, we classified DYCOM INDUSTRIES as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. This type of company is likely to be interesting to investors who are seeking high returns with higher risk. More…
Peers
Dycom Industries Inc is one of the leading companies in specialty contracting services. It competes with several other major companies in the industry, such as MYR Group Inc, Argan Inc, and ENGlobal Corp. All of these companies offer similar services and strive to provide the best solutions for their clients.
– MYR Group Inc ($NASDAQ:MYRG)
MYR Group Inc is a leading specialty contractor focused on the transmission, distribution and on-site generation of electrical power in the United States, with a market cap of 2.05B as of 2023. The company primarily serves the public utility, cooperative utility, and industrial markets, providing a wide range of services on electric transmission and distribution networks. MYR Group Inc has a strong Return on Equity (ROE) of 13.43%, which is above the industry average. This indicates that the company is able to efficiently generate profits from its shareholders’ investments. MYR Group Inc has a long history and continues to remain a leader in the power infrastructure industry.
– Argan Inc ($NYSE:AGX)
Argan Inc is a publicly traded company that operates across a variety of industries, including energy, engineering, and construction. With a market cap of 542.1 million as of 2023, the company has been able to successfully establish itself as one of the top players in its respective fields. Its Return on Equity of 8.82% provides investors with a strong indication of its financial performance, as well as its potential for growth over the coming years. Argan Inc’s financial position, combined with its wide range of services, ensure that it is well-positioned to continue to provide value to its shareholders moving forward.
– ENGlobal Corp ($NASDAQ:ENG)
NEGGlobal Corp is a technology and engineering company that focuses on developing, manufacturing and distributing products and services for a variety of industries. It has a market capitalization of 29.03M as of 2023, which indicates the company’s size and market presence. Its Return on Equity (ROE) of -30.93% is indicative of the company’s overall financial performance in the current year, suggesting that it has not been very profitable. NEGGlobal Corp has been diversifying its product portfolio to improve profitability and provide high-quality products to its customers. The company is expected to continue to grow its market presence in the coming years.
Summary
DYCOM INDUSTRIES reported its FY2023 fourth quarter results on March 1, 2023, indicating significant growth compared to the same period last year. Total revenue increased by 3040.5%, while net income grew 20.5%. This had a positive impact on the stock price, which moved up the same day.
From an investing perspective, the strong results suggest that DYCOM INDUSTRIES is performing well and is financially sound. The high revenue growth rate indicates potential for further growth, making it a potentially attractive investment opportunity for investors who are looking for long-term returns.
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