Dycom Reports Record Q4 & Annual Results, Exceeds Revenue Outlook, and Provides Strong Fiscal 2027 Guidance

summarizeSummary

Dycom Industries reported record fourth quarter and annual fiscal 2026 results, exceeding revenue expectations, driven by strong organic growth and a strategic acquisition, while also providing an optimistic fiscal 2027 outlook.

check_boxKey Events

• Record Q4 and Annual Performance

  Reported record contract revenues of $1.458 billion for Q4 2026 (up 34.4%, 16.6% organically) and $5.546 billion for the full fiscal year (up 17.9%, 6.5% organically), exceeding the top end of its fiscal 2026 revenue outlook.

• Strong Profitability and Cash Flow

  Achieved record Q4 Adjusted EBITDA of $162.4 million (up 39.6%) and full-year Adjusted EBITDA of $737.7 million (up 28.0%). Free Cash Flow surged to a record $435.3 million for the year, an increase of 216%.

• Strategic Acquisition Completed

  Completed the acquisition of Power Solutions, LLC on December 23, 2025, accelerating its entry into the high-growth data center market and contributing to a new Building Systems segment.

• Robust Fiscal 2027 Outlook

  Provided fiscal 2027 annual contract revenue guidance of $6.85 billion to $7.15 billion, reflecting continued strong growth, and anticipates further Adjusted EBITDA margin expansion.

auto_awesomeAnalysis

Dycom Industries delivered a robust earnings report, showcasing record performance across key financial metrics for both the fourth quarter and the full fiscal year 2026. The company exceeded its revenue outlook, driven by strong organic growth in its core Communications segment and the strategic acquisition of Power Solutions, which accelerates its entry into the high-growth data center market. Despite a GAAP net income dip in Q4 due to acquisition-related costs, adjusted earnings and cash flow metrics demonstrated significant strength. The positive fiscal 2027 outlook, projecting substantial revenue growth and continued margin expansion, indicates strong demand for its services and effective operational execution, positioning the company for continued success.