Dycom Industries, Inc. · NYSE:DY
Dycom Industries — Q2 FY2018 Earnings Presentation
22 slides from Dycom Industries's earnings presentation, Feb 28, 2018
Slide 1: 2nd Quarter Fiscal 2018 Results Conference Call
2nd Quarter Fiscal 2018 February 28, 2018 Results Conference Call
Slide 2: Forward Looking Statements, Non-GAAP Financial Measures and Other Information
Forward Looking Statements, Non-GAAP Financial Measures and Other 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, fut
Slide 3: Participants and Agenda
Participants and Agenda Participants Steven E. Nielsen President & Chief Executive Officer H. Andrew DeFerrari Chief Financial Officer Richard B. Vilsoet General Counsel Agenda Introduction and Q2-18 Overview Industry Update Financial & Operational Highlights Outlook Conclusion Q&A 33
Slide 4: Q2-18 Overview and Highlights
Q2-18 Overview and Highlights Strengthening market opportunities despite near-term revenue declines Contract revenues of $655.1 million in Q2-18, included $19.6 million of revenue from storm restoration services. Excluding revenue from storm restoration services and from an acquired business, re
Slide 5: Industry Update
Industry Update Industry increasing network bandwidth dramatically Major industry participants deploying significant 1 gigabit wireline networks Emerging wireless technologies, in and of themselves, are driving significant wireline deployments o A complementary wireline investment cycle is und
Slide 6: Revenue Highlights
Revenue Highlights Organic % adjusted for revenues from acquired businesses and storm restoration services, when applicable. Q2-18 organic decline of 10.6% Top 5 customers decreased 8.5% organically, impacted by the expected moderation spending by a large customer in Q2-18 All other customers
Slide 7: Backlog and Awards
Backlog and Awards Financial charts - $ in millions Selected Current Awards and Extensions Approximate Customers Description Area Term (in years) Charter Fulfillment Services Wisconsin, Michigan, Ohio, New York 1-2 Comcast Construction & Maintenance Services Massachusetts, Connecticut 1 Fulfillment
Slide 8: Financial Highlights
Financial Highlights Financial charts - $ in millions, except earnings per share amounts Non-GAAP Non-GAAP Contract Revenues Adjusted EBITDA Adjusted Diluted EPS $701.1 $655.1 $86.2 $59.6 $0.82 $0.12 Q2-17 Q2-18 Q2-17 Q2-18 Q2-17 Q2-18 As a % of Contract Revenues 12.3% 9.1% Revenues of $655.1 mill
Slide 9: Liquidity Overview
Liquidity Overview Financial tables - $ in millions Strong balance sheet and liquidity Robust operating cash flows (a) Availability on Revolver presented net of $48.7 million and $48.6 million L/C’s under the Senior Credit Facility at Q1-18 and Q2-18, respectively Balance sheet reflects the streng
Slide 10: Annual Outlook for Fiscal Year Ending January 26, 2019 (Fiscal 2019)
Annual Outlook for Fiscal Year Ending January 26, 2019 (Fiscal 2019) Financial table- $ in millions, except earnings per share amounts (% as a percent of contract revenues, except as noted for Effective Income Tax Rate) Fiscal 2019 Outlook Other Expectations Trailing 4 Trailing 4 Quarters Ended Outl
Slide 11: Looking Ahead to the Quarter Ended April 28, 2018 (Q1-2019)
Looking Ahead to the Quarter Ended April 28, 2018 (Q1-2019) Financial table- $ in millions, except earnings per share amounts (% as a percent of contract revenues, except as noted for Effective Income Tax Rate) Q1-19 Outlook Other Expectations Outlook - Outlook - Quarter Ended Quarter Ended Quarter
Slide 12: Conclusion
Conclusion Firm and strengthening end market opportunities Fiber deployments in contemplation of emerging wireless technologies have begun in many regions of the country. A significant number of new project initiations will continue to occur in the near term. Wireless construction activity in su
Slide 13: Appendix: Regulation G Disclosure - Explanation of Non-GAAP Measures
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 14: Non-GAAP Organic Contract Revenue
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Organic Contract Revenue Unaudited ($ in millions) (a) Q4-16 contained 14 weeks as a result of our 52/53 week fiscal year as compared to 13 weeks in all other quarterly peri
Slide 15: Non-GAAP Organic Contract Revenue – certain customers
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: Non-GAAP Adjusted EBITDA
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Adjusted EBITDA Unaudited ($ in 000's) Notes: Amounts above may not add due to rounding. Use of Non-GAAP Financial Measures The Company reports its financial results in acco
Slide 17: Non-GAAP Adjusted Net Income and Adjusted Diluted EPS
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Adjusted Net Income and Non-GAAP Adjusted Diluted Earnings Per Share Unaudited ($ in 000's, except per share amounts) Note: Amounts above may not add due to rounding. a) Non
Slide 18: Non-GAAP Adjusted EBITDA
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Adjusted EBITDA Unaudited ($ in 000's) Notes: Amounts above may not add due to rounding. Use of Non-GAAP Financial Measures The Company reports its financial results in acco
Slide 19: Non-GAAP Adjusted Net Income and Adjusted Diluted EPS
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Adjusted Net Income and Non-GAAP Adjusted Diluted Earnings Per Share Unaudited ($ in 000's, except per share amounts) Note: Amounts above may not add due to rounding. a) Amo
Slide 20: Outlook – Non-GAAP Diluted EPS for Fiscal 2019 and Q1-19
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Outlook – Non-GAAP Diluted Earnings per Common Share for Fiscal 2019 and Quarter Ending April 28, 2018 (Q1-19) Unaudited Quarter Ending April 28, 2018 Fiscal 2019 (Q1-19) Diluted ear
Slide 21: Reconciliation of Net Income to Non-GAAP Adjusted EBITDA Guidance
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Reconciliation of Net Income to Non-GAAP Adjusted EBITDA based on the Midpoint of Earnings per Common Share ("EPS") Guidance for Fiscal 2019 and Quarter Ending April 28, 2018 (Q1-19)
Slide 22: 2nd Quarter Fiscal 2018 Results Conference Call
2nd Quarter Fiscal 2018 February 28, 2018 Results Conference Call