Dycom Industries, (NYSE: DY) announced yesterday its results for the second quarter and six months ended July 27, 2019. The company reported contract revenues of $884.2 million for the quarter. That compares to $799.5 million for the same quarter a year ago.
Contract revenues for the second quarter increased 11.1 percent on an organic basis after excluding $3.8 million in contract revenues from storm restoration services compared to the same quarter a year ago. Contract revenues of $1.718 billion for the six months ending July 27, 2019, compared to $1.531 billion for the same period last year. They increased 13.5 percent on an organic basis after excluding contract revenues from an [unnamed] acquired business that was not owned for the full period in both the current and prior year periods, and contract revenues from storm restoration services.
Contract revenues from that acquired business were $13.4 million for the six months ended July 27 of this year compared to $14.9 million for the same period a year ago. Contract revenues from storm restoration services were $4.7 million for the six months ended July 27, 2019 compared to $18.6 million a year ago.
The company also announced its outlook for the fiscal quarter ending October 26, 2019. Dycom currently expects total contract revenues to range from $820 million to $870 million.
August 29, 2019