Dycom Industries, Inc. · NYSE:DY
Dycom Industries — Q4 2021 Earnings Presentation
12 slides from Dycom Industries's earnings presentation, Mar 3, 2021
Slide 1: Dycom Q4 2021 Results
Dycom Q4 2021 Results March 3, 2021
Slide 2: Participants and Agenda
Participants Agenda Steven E. Nielsen • Q4 2021 Overview President & Chief Executive Officer • Industry Update H. Andrew DeFerrari Chief Financial Officer • Financial & Operational Highlights Ryan F. Urness General Counsel • 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 May 1, 2021 found within this p
Slide 4: Q4 2021 Overview
Contract Revenues Q4 2021 Overview Contract Revenues Q4 2021 contract revenues of $750.7 million decreased 6.2% on an organic basis after excluding $5.7 million of revenues from storm restoration services and adjusting for the additional week of operations in Q4 2021 as a result of the Company’s 52/
Slide 5: Industry Update
Industry Update Industry Increasing Network Bandwidth Dramatically Major industry participants constructing or upgrading significant wireline networks across broad sections of the country generally designed to provision 1 gigabit network speeds directly to consumers or wirelessly using 5G technologi
Slide 6: Contract Revenues
Contract Revenues Q4 2021 Organic Growth (Decline): Top 5 customers represented 69.4% and 77.2% of contract revenues in Q4 2021 and Q4 2020, respectively (6.2)% (15.5)% 25.3% Q4 2021 % of contract revenues from customers #6 through #10: Total Customers Top 5 Customers All Other Customers 2.8% 2.5% 2
Slide 7: Backlog, Awards and Employees
Backlog, Awards and Employees Total backlog of $6.810 billion at Q4 2021 increased sequentially from $5.412 billion at Q3 2021 Selected Q4 2021 Awards and Extensions: Customer Description of Services Area Term AT&T Construction KY, TN, NC, SC, AL, GA, FL 3 years Construction & Maintenance KY, TN, NC
Slide 8: Financial Highlights
Financial Highlights As % of Contract Revenues Q4 2021 contract revenues of $750.7 million decreased 6.2% on an organic basis after excluding $5.7 million of revenues from storm restoration services and adjusting for the additional week of operations during Q4 2021 as a result of the Company’s 52/53
Slide 9: Liquidity Overview
Liquidity Overview Debt Summary Q3 2021 Q4 2021 $ Millions 0.75% Convertible Senior Notes, mature Sept 2021: $ 58.3 $ 58.3 4 Senior Credit Facility, matures Oct 2023: Term Loan Facility 427.5 421.9 Revolving Facility 85.0 105.0 Total Notional Amount of Debt $ 570.8 $ 585.1 Less: Cash and Equivalents
Slide 10: Outlook
Outlook For Q1 2022, as compared sequentially to Q4 2021, the Company expects contract revenues to range from in-line to modestly lower and Non-GAAP Adjusted EBITDA as a percentage of contract revenues to range from in-line to modestly higher The Company believes that, in addition to other factors,
Slide 11: Closing Remarks
Closing Remarks Strong award activity and emerging breadth in Dycom’s business despite challenging economic backdrop Fiber deployments enabling new wireless technologies are underway in many regions of the country Telephone companies are deploying FTTH to enable 1 gigabit high speed connections and,
Slide 12: Notes
Notes 1) Organic growth (decline) % adjusted for revenues from acquired businesses, 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) Formerly known as CenturyLink, Inc. 3) The Comp