Dycom Industries, Inc. · NYSE:DY
Dycom Industries — Q4 2022 Earnings Presentation
14 slides from Dycom Industries's earnings presentation, Mar 2, 2022
Slide 1: Quarter 4 | Fiscal 2022 Results
Quarter 4 | Fiscal 2022 Results March 2, 2022
Slide 2: Participants and Agenda
Participants and Agenda Steven E. Nielsen President and Chief Executive Officer H. Andrew DeFerrari Chief Financial Officer Ryan F. Urness General Counsel • Q4 2022 Overview • Industry Update • Financial & Operational Highlights • Outlook • Closing Remarks • Q&A 2
Slide 3: Important Information
Important Information Caution Concerning Forward-Looking Statements This presentation contains forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act. These statements include those related to the outlook for the quarter ending April 30, 2022 found within thi
Slide 4: Q4 2022 Overview
Q4 2022 Overview Contract Revenues • Contract revenues of $761.5 million increased 10.1% organically after excluding $5.7 million of contract revenues from storm restoration services in the year ago period and adjusting for the additional week of operations in the year ago period as a result of our
Slide 5: Industry Update
Industry Update The industry effort to deploy high-capacity fiber networks continues to meaningfully broaden the set of opportunities for our industry • Major industry participants are constructing or upgrading significant wireline networks across broad sections of the country • High-capacity fiber
Slide 6: Contract Revenues
Contract Revenues Non-GAAP Organic Growth (Decline) %1 Top 5 Customers - % of Total Contract Revenues Q4 2022 Q4 2021 Q4 2022 Organic Growth: Top 5 customers represented 66.6% and 69.4% of contract revenues in Q4 2022 and Q4 2021, 10.1% 5.4% 20.8% respectively2 Total Customers Top 5 Customers2 All O
Slide 7: Backlog, Awards and Employees
Backlog, Awards and Employees Backlog4 Employee Headcount Selected Q4 Customer Description of Services Area Term 2022 Awards AT&T Construction & Maintenance CA, NV, TX, MO, WI, IN, OH 3 years and Extensions: Lumen Construction & Maintenance WA, OR, CA, AZ, AR 3 years Comcast Engineering MI, MA, PA,
Slide 8: Financial Highlights
Financial Highlights Contract Revenues Non-GAAP Adjusted EBITDA Non-GAAP Adjusted Diluted EPS As % of Contract Revenues • Contract revenues of $761.5 million increased 10.1% organically after excluding $5.7 million of contract revenues from storm restoration services in the year ago period and adjus
Slide 9: Debt and Liquidity Overview
Debt and Liquidity Overview $ Millions Q3 2022 Q4 2022 Debt Summary 4.50% Senior Notes, mature April 2029 $ 500.0 $ 500.0 Debt maturity profile and 5 Senior Credit Facility, matures April 2026: liquidity provide financial Term Loan Facility 350.0 350.0 flexibility Revolving Facility - - Total Notion
Slide 10: Cash Flow Overview
Cash Flow Overview Operating Cash Flow $ Millions Q4 2021 Q4 2022 Cash Flow Summary Operating cash flow $ 102.4 $ 145.5 Capital expenditures, net of disposals $ (20.4) $ (43.4) Borrowings on Senior Credit Facility $ 14.4 $ - Repurchase of common stock $ (100.0) $ (56.1) Other financing & investing a
Slide 11: Outlook for Quarter Ending April 30, 2022 (Q1 2023)
Outlook for Quarter Ending April 30, 2022 (Q1 2023) Q1 2023 Outlook: CONTRACT REVENUES NON-GAAP ADJUSTED EFFECTIVE INCOME TAX RATE (As a % of Non-GAAP Adjusted Income Before Taxes) Increase mid-to-high single digits as a percentage of contract revenues compared to Q1 2022 Approximately 27.0% NON-GAA
Slide 12: Closing Remarks
Closing Remarks We maintain significant customer presence throughout our markets and are encouraged by the breadth in our business Our extensive market presence has allowed us to be at the forefront of evolving industry opportunities • Telephone companies are deploying FTTH to enable gigabit high sp
Slide 13: Notes
Notes 1. Organic growth (decline) % adjusted for contract revenues from storm restoration services, and for the additional week of operations during the fourth quarter as a result of the Company’s 52/53 week fiscal year, when applicable. 2. Top 5 customers included AT&T, Comcast, Lumen, Verizon, and
Slide 14: The people connecting America
The people connecting America ® 14