Dycom Industries, Inc. · NYSE:DY
Dycom Industries — Q1 FY2018 Earnings Presentation
21 slides from Dycom Industries's earnings presentation, Nov 20, 2017
Slide 1: 1st Quarter Fiscal 2018 Results Conference Call
1st Quarter Fiscal 2018 November 20, 2017 Results Conference Call
Slide 2: Forward Looking Statements and Non-GAAP Financial Measures Information
Forward Looking Statements and Non-GAAP Financial Measures 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 rev
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 Q1-18 Overview Industry Update Financial & Operational Highlights
Slide 4: Q1-18 Overview and Highlights
Q1-18 Overview and Highlights Strengthening market opportunities Contract revenues of $756.2 million in Q1-18, included $15.5 million in revenue from storm restoration services. Excluding revenue from an acquired business and storm restoration services, revenues declined 8.4% organically. Oper
Slide 5: Industry Update
Industry Update Industry increasing network bandwidth dramatically Major industry participants deploying significant 1 gigabit wireline networks Emerging wireless technologies require incremental wireline deployments o A complementary wireline investment cycle is underway to facilitate applica
Slide 6: Revenue Highlights
Revenue Highlights All organic % adjusted for Q1-18 revenue from an acquired business and storm restoration services Q1-18 organic decline of 8.4%, impacted by near-term moderation in spending by a large customer Revenues from Q1-18 top 5 customers decreased 6.8% organically. 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) Verizon Engineering & Construction Services Various 2-3 Comcast Construction & Maintenance Services Virginia 1 Fulfillment Services Michigan, Illinois, Mi
Slide 8: Financial Highlights
Financial Highlights Financial charts - $ in millions, except earnings per share amounts As a % of Contract Revenues 16.2% 12.9% Revenues of $756.2 million in Q1-18 declined organically 8.4% from Q1-17 Near-term moderation in spending by a large customer During Q1-18, an acquired business cont
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 $48.7million L/C’s under the Senior Credit Facility at both Q4-17 and Q1-18 Balance sheet reflects the strength of our business Strong
Slide 10: Outlook for the Quarter Ended January 27, 2018 (Q2-2018)
Outlook for the Quarter Ended January 27, 2018 (Q2-2018) Financial table- $ in millions, except earnings per share amounts (% as a percent of contract revenues, except as noted for Effective Income Tax Rate) Q2-2017 Q2-2018 Outlook and Commentary for comparison Contract Revenues $ 701.1 $ 645 - $ 67
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 (% as a percent of contract revenues, except as noted for Effective Income Tax Rate) Quarter ended April 29, 2017 for Quarter ended April 28, 2018 (Q1-19) Outlook and Commentary comparison Contract Revenues $
Slide 12: Fiscal Year Change
Fiscal Year Change In September 2017, the Company changed its fiscal year end from July to January Beginning with a six month transitional period ending January 27, 2018, the Company’s fiscal year will end on the last Saturday of January Fiscal year 2019 will be for the period from January 28,
Slide 13: Conclusion
Conclusion Firm and strengthening end market opportunities Fiber deployments in contemplation of newly emerging wireless technologies have begun in many regions of the country. A significant number of new project initiations will occur in the near term. Wireless construction activity in support
Slide 14: 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 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 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 16: 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 17: 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) Notes: Amounts above may not add due to rounding. Use of Non-GAAP Financial Measures The Company reports its financial results in acco
Slide 18: 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 Diluted Earnings Per Share Unaudited ($ in 000's, except per share amounts) *Q1-18 Non-GAAP Adjusted Net Income includes $0.9 milli
Slide 19: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Adjusted Net Income and Non-GAAP Adjusted Diluted Earnings Per Share Unaudited ($ in 000's, except per share amounts) For comparison purposes for slides 10 and 11 Note: Amou
Slide 20: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Outlook – Non-GAAP Diluted Earnings per Common Share for the Three Months Ending January 27, 2018 Unaudited Outlook for the Three Months Ending January 27, 2018 Diluted earnings per
Slide 21: 1st Quarter Fiscal 2018 Results Conference Call
1st Quarter Fiscal 2018 November 20, 2017 Results Conference Call