We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
In the last-reported quarter, the company’s earnings and revenues surpassed their respective Zacks Consensus Estimate by 32% and 7% and increased 77.9% and 22.1% year over year, respectively. The upside was mainly backed by solid organic growth.
This specialty contracting services provider surpassed earnings estimates in each of the trailing four quarters, the average being 142.9%.
The Zacks Consensus Estimate for Dycom’s fiscal fourth-quarter earnings has decreased to 17 cents from 18 cents per share in the past seven days. The estimated figure indicates a 750% increase on a year-over-year basis. The consensus estimate for revenues is pegged at $817 million, indicating a year-over-year rise of 7.3%.
Factors to Note
Dycom’s revenues and earnings are expected to have increased in the fiscal fourth quarter, given strong demand, extended geographic reach, proficient program management and network planning services. The company has been witnessing increased demand for network bandwidth and mobile broadband.
Impressive fiber-to-the-home deployments from six of its top 10 customers are likely to have contributed to fiscal fourth-quarter growth. Moreover, it continues to book new contracts and renew existing ones on strong customer relationships.
For the quarter to be reported, management expects contract revenues to grow in mid-to-high-single digits from the year-ago reported figure.
The Zacks Consensus Estimate for its fiscal fourth-quarter revenues in the Telecommunications segment is pegged at $708 million, indicating a decline from the prior-quarter’s figure of $941 million. The same for the Underground Facility unit is pegged at $72 million, suggesting no change from the prior quarter. The consensus mark for Electrical and gas utilities and other business revenues is pegged at $46.41 million, indicating an increase from $29.6 million a year ago.
The Zacks Consensus Estimate for the fiscal 2023 backlog is pegged at $6.127 billion, indicating an increase from $6.116 billion reported in the prior quarter.
Yet, macroeconomic uncertainties like supply-chain challenges, tight labor and higher fuel costs are likely to have put pressure on the company’s to-be-reported quarter’s performance. Dycom faces automotive and equipment supply chain challenges and foreign currency exchange rate risk. Fluctuations in oil prices are a major headwind for the company as the cost of conducting business is directly linked to an increase in fuel prices.
Notably, Dycom’s fourth quarter of every fiscal year is prone to seasonality. Each year, its fourth-quarter results are impacted by inclement weather, fewer available workdays, reduced daylight work hours and the restart of calendar payroll taxes. Considering these headwinds, the company has projected contract revenue growth in mid-to-high-single digits and modest improvement in the adjusted EBITDA margin.
For the period, Dycom expects the effective tax rate to be 27% and diluted shares of 30.1 million. Interest expense is likely to be $11.8 million.
What the Zacks Model Says
Our proven model does not conclusively predict an earnings beat for Dycom this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Dycom currently has an Earnings ESP of -93.98% and carries a Zacks Rank #4 (Sell).
EMCOR Group, Inc. (EME - Free Report) reported impressive fourth-quarter 2022 results wherein earnings and revenues surpassed the Zacks Consensus Estimate and increased year over year.
The company reported adjusted earnings of $2.63 per share, surpassing the consensus mark of $2.28 by 15.4% and increasing 39.2% from the year-ago quarter’s figure. Revenues totaled $2.95 billion, surpassing the consensus mark of $2.87 billion by 2.8% and rising 11.7% year over year. Organic revenues were up 10.5%, driven by double-digit revenue growth across the U.S. Construction and U.S. Building Services segments.
MasTec, Inc. (MTZ - Free Report) reported impressive results for fourth-quarter 2022, where earnings and revenues beat the Zacks Consensus Estimate. Earnings declined year over year, but revenues increased on accretive acquisitions and solid improvement across the segments (barring Oil and Gas).
At December 2022-end, MTZ had an 18-month backlog of $12.98 billion, up 13% from $9.94 billion a year ago and 16% from $11.23 billion sequentially.
Quanta Services Inc. (PWR - Free Report) has reported impressive results for fourth-quarter 2022. Adjusted earnings and revenues surpassed the Zacks Consensus Estimate and increased impressively on a year-over-year basis, reflecting the benefits of portfolio strategy and strategic capital deployment.
Notably, PWR's earnings beat the consensus mark in the trailing 11 quarters, whereas revenues surpassed the same in eight of the 11 consecutive quarters.
Image: Bigstock
Dycom (DY) to Report Earnings in Q4: What's in the Offing?
Dycom Industries, Inc. (DY - Free Report) is scheduled to report fourth-quarter fiscal 2023 results on Mar 1, before the opening bell.
In the last-reported quarter, the company’s earnings and revenues surpassed their respective Zacks Consensus Estimate by 32% and 7% and increased 77.9% and 22.1% year over year, respectively. The upside was mainly backed by solid organic growth.
This specialty contracting services provider surpassed earnings estimates in each of the trailing four quarters, the average being 142.9%.
Dycom Industries, Inc. Price and EPS Surprise
Dycom Industries, Inc. price-eps-surprise | Dycom Industries, Inc. Quote
Earnings & Revenue Expectations
The Zacks Consensus Estimate for Dycom’s fiscal fourth-quarter earnings has decreased to 17 cents from 18 cents per share in the past seven days. The estimated figure indicates a 750% increase on a year-over-year basis. The consensus estimate for revenues is pegged at $817 million, indicating a year-over-year rise of 7.3%.
Factors to Note
Dycom’s revenues and earnings are expected to have increased in the fiscal fourth quarter, given strong demand, extended geographic reach, proficient program management and network planning services. The company has been witnessing increased demand for network bandwidth and mobile broadband.
Impressive fiber-to-the-home deployments from six of its top 10 customers are likely to have contributed to fiscal fourth-quarter growth. Moreover, it continues to book new contracts and renew existing ones on strong customer relationships.
For the quarter to be reported, management expects contract revenues to grow in mid-to-high-single digits from the year-ago reported figure.
The Zacks Consensus Estimate for its fiscal fourth-quarter revenues in the Telecommunications segment is pegged at $708 million, indicating a decline from the prior-quarter’s figure of $941 million. The same for the Underground Facility unit is pegged at $72 million, suggesting no change from the prior quarter. The consensus mark for Electrical and gas utilities and other business revenues is pegged at $46.41 million, indicating an increase from $29.6 million a year ago.
The Zacks Consensus Estimate for the fiscal 2023 backlog is pegged at $6.127 billion, indicating an increase from $6.116 billion reported in the prior quarter.
Yet, macroeconomic uncertainties like supply-chain challenges, tight labor and higher fuel costs are likely to have put pressure on the company’s to-be-reported quarter’s performance. Dycom faces automotive and equipment supply chain challenges and foreign currency exchange rate risk. Fluctuations in oil prices are a major headwind for the company as the cost of conducting business is directly linked to an increase in fuel prices.
Notably, Dycom’s fourth quarter of every fiscal year is prone to seasonality. Each year, its fourth-quarter results are impacted by inclement weather, fewer available workdays, reduced daylight work hours and the restart of calendar payroll taxes. Considering these headwinds, the company has projected contract revenue growth in mid-to-high-single digits and modest improvement in the adjusted EBITDA margin.
For the period, Dycom expects the effective tax rate to be 27% and diluted shares of 30.1 million. Interest expense is likely to be $11.8 million.
What the Zacks Model Says
Our proven model does not conclusively predict an earnings beat for Dycom this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Dycom currently has an Earnings ESP of -93.98% and carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank stocks here.
Some Recent Construction Releases
EMCOR Group, Inc. (EME - Free Report) reported impressive fourth-quarter 2022 results wherein earnings and revenues surpassed the Zacks Consensus Estimate and increased year over year.
The company reported adjusted earnings of $2.63 per share, surpassing the consensus mark of $2.28 by 15.4% and increasing 39.2% from the year-ago quarter’s figure. Revenues totaled $2.95 billion, surpassing the consensus mark of $2.87 billion by 2.8% and rising 11.7% year over year. Organic revenues were up 10.5%, driven by double-digit revenue growth across the U.S. Construction and U.S. Building Services segments.
MasTec, Inc. (MTZ - Free Report) reported impressive results for fourth-quarter 2022, where earnings and revenues beat the Zacks Consensus Estimate. Earnings declined year over year, but revenues increased on accretive acquisitions and solid improvement across the segments (barring Oil and Gas).
At December 2022-end, MTZ had an 18-month backlog of $12.98 billion, up 13% from $9.94 billion a year ago and 16% from $11.23 billion sequentially.
Quanta Services Inc. (PWR - Free Report) has reported impressive results for fourth-quarter 2022. Adjusted earnings and revenues surpassed the Zacks Consensus Estimate and increased impressively on a year-over-year basis, reflecting the benefits of portfolio strategy and strategic capital deployment.
Notably, PWR's earnings beat the consensus mark in the trailing 11 quarters, whereas revenues surpassed the same in eight of the 11 consecutive quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.