Dycom Industries, Inc. · NYSE:DY

Dycom Industries — Q2 FY2019 Earnings Presentation

22 slides from Dycom Industries's earnings presentation, Aug 29, 2018

  1. Slide 1: 2nd Quarter Fiscal 2019 Results Conference Call

    2nd Quarter Fiscal 2019 August 29, 2018 Results Conference Call

  2. 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

  3. Slide 3: 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 Q2-19 Overview Industry Update Financial & Operational Highlights Outlook Conclusion Q&A

  4. Slide 4: Q2-19 Overview and Highlights

    Q2-19 Overview and Highlights Contract Revenues  Strong market opportunities $780.2 $799.5  Contract revenues of $799.5 million in Q2-19, included $3.8 million of revenues from storm restoration services and $9.1 million from a previously acquired business. Excluding revenues from storm restoratio

  5. Slide 5: Industry Update

    Industry Update  Industry increasing network bandwidth dramatically  Major industry participants deploying significant 1 gigabit wireline networks  Emerging wireless technologies are driving significant wireline deployments  Wireline deployments necessary to facilitate expected decades long depl

  6. Slide 6: Revenue Highlights

    Revenue Highlights Organic % adjusted for revenues from acquired businesses and storm restoration services, when applicable.  Q2-19 organic growth of 0.8%  Top 5 customers increased 3.3% organically  All other customers decreased 7.0% organically (a) (a) (a) Due to the change in the Company’s fis

  7. Slide 7: Backlog and Awards

    Backlog and Awards Financial charts - $ in millions Backlog Employees $9,000 $7,881 16,000 $8,000 15,000 14,607 14,768 $7,000 14,393 14,368 $6,016 $6,198 14,227 $5,847 $5,877 14,163 $6,000 $5,470 $5,203 $5,112 14,000 $5,000 13,204 13,236 $4,000 13,000 $3,000 12,000 $2,000 11,000 $1,000 $2,208 $2,363

  8. 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 $780.2 $799.5 $118.0 $97.8 $1.47 $1.05 Quarter Ended Quarter Ended Quarter Ended Quarter Ended Quarter Ended Quarter Ended July 29, 2017 J

  9. Slide 9: Liquidity Overview

    Liquidity Overview Financial tables - $ in millions Strong balance sheet and liquidity Cash flows support scale of operations Liquidity Summary As of Cash Flow Summary Quarter Ended April 28, 2018 July 28, 2018 July 27, 2017 July 28, 2018 Cash and equivalents $ 57.9 $ 23.9 Cash provided by operating

  10. 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

  11. Slide 11: Looking Ahead to the Quarter Ending October 27, 2018 (Q3-2019)

    Looking Ahead to the Quarter Ending October 27, 2018 (Q3-2019) Financial table- $ in millions, except earnings per share amounts (% as a percent of contract revenues, except as noted for Effective Income Tax Rate) Q3-19 Outlook Other Expectations Outlook - Outlook - Quarter Ending Quarter Ending Qua

  12. 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 project initiations are occurring.  Wireless construction activity in support of expanded coverage and

  13. 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

  14. Slide 14: Non-GAAP Organic Contract Revenues

    Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Organic Contract Revenues Unaudited ($ in millions) NON-GAAP ADJUSTMENTS Revenue Growth (Decline)% Revenues from Additional week Non-GAAP - Contract Revenues from storm as a

  15. Slide 15: Non-GAAP Organic Contract Revenues – certain customers

    Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Organic Contract Revenues – certain customers Unaudited ($ in millions) All customers Top 5 (excluding Total Contract Customers Top 5 Revenues combined* Customers) Verizon C

  16. 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) Quarter Ended July 28, 2018 July 29, 2017 Q2-19 Q4-17 Reconciliation of net income to Non-GAAP Adjusted EBITDA: Net income $ 29,900 $

  17. 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) Quarter Ended July 28, 2018 July 29, 2017 Q2-19 Q4-17 R

  18. Slide 18: Non-GAAP Adjusted EBITDA (Trailing Quarters)

    Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Adjusted EBITDA Unaudited ($ in 000's) Trailing 4 Quarter Ended Quarters Ended January 27, 2018 October 28, 2017 July 29, 2017 April 29, 2017 January 27, 2018 Q2-18 Q1-18 Q4

  19. Slide 19: Non-GAAP Adjusted Net Income and Adjusted Diluted EPS (Trailing Quarters)

    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) Quarter Ended Trailing 4 Quarters January 27, 2018 Octo

  20. Slide 20: Outlook – Non-GAAP Diluted Earnings per Common Share

    Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Outlook – Non-GAAP Diluted Earnings per Common Share Unaudited Quarter Ending October 27, 2018 Fiscal 2019 (a) (Q3-19) (a) Diluted earnings per common share – GAAP $2.17 - $2.62 $0.6

  21. Slide 21: Reconciliation of Net Income to Adjusted EBITDA at Guidance Midpoint

    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 Unaudited ($ in millions) Guidance Quarter Ending Guidanc

  22. Slide 22: 2nd Quarter Fiscal 2019 Results Conference Call

    2nd Quarter Fiscal 2019 August 29, 2018 Results Conference Call

Dycom Industries — Q2 FY2019 Earnings Presentation on 6ix