Dycom Industries, Inc. · NYSE:DY
Dycom Industries — Q4 FY2016 Earnings Presentation
20 slides from Dycom Industries's earnings presentation, Aug 24, 2016
Slide 1: 4th Quarter Fiscal 2016 Results Conference Call
4th Quarter Fiscal 2016 Results Conference Call August 24, 2016
Slide 2: Forward Looking Statements and Non-GAAP Information
Forward Looking Statements and Non-GAAP Information This presentation contains “forward-looking statements”. Other than statements of historical facts, all statements contained in this presentation, including statements regarding the Company’s future financial position, future revenue, prospects, pl
Slide 3: Participants and Agenda
Participants and Agenda Participants Steven E. Nielsen President & Chief Executive Officer Timothy R. Estes Chief Operating Officer H. Andrew DeFerrari Chief Financial Officer Richard B. Vilsoet General Counsel Agenda Introduction and Q4-16 Overview Industry Update Financial & Operational Highlights
Slide 4: Q4-16 Overview and Highlights
Q4-16 Overview and Highlights Financial charts - $ in millions, except earnings per share amounts Q4-16 contained 14 weeks as a result of our 52/53 week fiscal year compared to 13 weeks in Q4-15 Strong demand and revenue growth Contract revenues of $789.2 million in Q4-16 compared to $578.5 mill
Slide 5: Industry Update
Industry Update Industry increasing network bandwidth dramatically Major industry participants deploying significant wireline networks Newly deployed networks provisioning 1 gigabit speeds; speeds beyond 1 gigabit envisioned Industry developments have produced opportunities which in aggregate
Slide 6: Revenue Highlights
Revenue Highlights Q4-16 organic growth of 20.0%, seventh straight quarter with double digit organic growth Revenues from Q4-16 Top 5 customers increased 44.0% organically. All other customers decreased 18.5% organically. * Top 5 customers in each period *Organic % growth (decline) adjusted fo
Slide 7: Backlog and Awards
Backlog and Awards Financial charts - $ in millions Selected Current Awards and Extensions Approximate Customers Description Area Term (in years) AT&T Wireless Construction Services California, Nevada, Arizona, Texas, Kentucky, Georgia, Florida 3 Construction and Maintenance Services Kentucky, Tenne
Slide 8: Financial Highlights
Financial Highlights Financial charts - $ in millions, except earnings per share amounts Q4-16 contained 14 weeks as a result of our 52/53 week fiscal year compared to 13 weeks in Q4-15 * As a % of Revenues 15.3% 16.0% Revenues of $789.2 million and organic growth of 20.0% adjusting for $53.2 mill
Slide 9: Liquidity Overview
Liquidity Overview Financial tables - $ in millions Strong balance sheet and liquidity Liquidity exceeds $426 million at the end of Q4-16 consisting of availability under our Credit Facility and cash on hand During Q4-16, reduced borrowings on credit agreement by $17.8 million to $346.3 million
Slide 10: Q1-2017 Outlook
Q1-2017 Outlook Financial table- $ in millions, except earnings per share amounts (% as a percent of contract revenues) Q1-2016 Included for Q1-2017 Outlook and Commentary comparison Contract Revenues $ 659.3 $780 - $810 Broad range of demand from several large customers Robust 1 gigabit deploym
Slide 11: Looking Ahead to Q2-2017
Looking Ahead to Q2-2017 Financial table- $ in millions (% as a percent of contract revenues) Q2-2016 Included for comparison Q2-2017 Outlook and Commentary Contract Revenues $ 559.5 Total revenue growth % Expectation of normal winter weather patterns in high teens or slightly Broad range of dem
Slide 12: Conclusion
Conclusion Firm and strengthening end market opportunities Telephone companies deploying FTTX to enable video offerings and 1 gigabit connections Cable operators continuing to deploy fiber to small and medium businesses with overall cable capital expenditures, new build opportunities, and capaci
Slide 13: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Organic Contract Revenue Unaudited ($ in millions) Revenue Growth (Decline) % Contract Non-GAAP Organic Non-GAAP - Revenues NON-GAAP ADJUSTMENTS Contract Revenues GAAP % Org
Slide 14: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Adjusted EBITDA Unaudited ($ in 000's) Q4-16 contained 14 weeks as a result of our 52/53 week fiscal year as compared to 13 weeks in Q4-15, Q1-16 and Q2-16 presented herein
Slide 15: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Organic Contract Revenue – certain customers Unaudited ($ in millions) Note: Amounts above may not add due to rounding. Use of Non-GAAP Financial Measures The Company report
Slide 16: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Adjusted Net Income and Non-GAAP Adjusted Earnings Per Share Unaudited ($ in 000's, except per share amounts) Q4-16 contained 14 weeks as a result of our 52/53 week fiscal y
Slide 17: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Adjusted Net Income and Non-GAAP Adjusted Earnings Per Share Unaudited ($ in 000's, except per share amounts) For Comparison purposes for slides 10 and 11 Q1-16 Three Months
Slide 18: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Outlook – Diluted Earnings per Common Share Unaudited Outlook for the Three Months Ending October 29, 2016 (a) Diluted earnings per common share $1.47 - $ 1.62 Adjustment After-tax n
Slide 19: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Explanation of Non-GAAP Measures The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). In the Company’s quarterly results releases, trend schedules, conference calls, slide presentations, and webcasts, it
Slide 20: 4th Quarter Fiscal 2016 Results Conference Call
4th Quarter Fiscal 2016 Results Conference Call August 24, 2016