Dycom reports record Q2 revenue of $2.01B (+45.6%), raises FY2027 outlook to $7.48B-$7.66B

Dycom disclosed fiscal 2027 second quarter financial results and provided forward guidance through a press release and conference call materials. The specific financial metrics (revenue, earnings, margins) are contained in the attached exhibits but not detailed in the 8-K body itself.

Dycom delivered record second quarter results across key metrics. Contract revenues reached $2.006 billion, up 45.6% year-over-year (16.7% organically). Net income was $115.6 million or $3.81 per diluted share, while adjusted net income reached $160.7 million or $5.29 per diluted share. Adjusted EBITDA margin expanded to 15.7% of revenues. Total backlog grew 53.2% to a record $12.242 billion, reflecting strong demand for digital infrastructure deployment.

Dycom completed the acquisition of National Technology Integrators during Q2 FY2027. The acquired business contributed $22.9 million in revenue during the quarter and specializes in inside-plant structured cabling for data centers, plus audio-visual and security systems. Operations span Washington D.C., Maryland, Virginia, Texas, and the Midwest, enhancing Dycom's Building Systems segment and diversifying its business.

Dycom raised its full-year fiscal 2027 revenue outlook to $7.48 billion to $7.66 billion. The Communications segment is expected to generate $5.90 billion to $6.01 billion, while Building Systems is projected at $1.58 billion to $1.65 billion. The increase reflects strong Q2 performance and higher expected revenue from Power Solutions and the National Technology Integrators acquisition, partially offset by approximately $150 million of wireless program revenues deferred into fiscal 2028.

For Q3 fiscal 2027 ending October 31, 2026, Dycom expects contract revenues of $1.90 billion to $1.98 billion, adjusted EBITDA of $281 million to $302 million, and adjusted diluted EPS (excluding amortization) of $4.33 to $4.79.

Dycom expects a slight decline in Communications segment adjusted EBITDA margin for the full year due to investments to scale operations and the impact of deferred wireless program revenues. Building Systems segment adjusted EBITDA margin is expected to be in the high-teens to low-twenties percent for the remainder of fiscal 2027, benefiting from strong opportunities and increased operating leverage.

Dycom reported record second quarter fiscal 2027 results with total contract revenues of $2,005.9 million, up 45.6% year-over-year, driven by 16.7% organic growth and contributions from acquired businesses. Adjusted EBITDA increased 53.5% to $315.5 million with margin expansion of 81 basis points to 15.7%. Adjusted diluted EPS rose 45.3% to $5.29.

Total backlog reached a record $12.242 billion as of Q2 2027, up 28% year-to-date, with next 12 months backlog of $6.472 billion. The company achieved a 1.4x organic book-to-bill ratio year-to-date. Backlog for long-haul, middle-mile, and inside-the-fence fiber infrastructure builds exceeded $1 billion, reflecting strong multi-year demand visibility.

Dycom acquired National Technology Integrators during the second quarter of fiscal 2027 to expand its Building Systems segment capabilities. The acquisition extends the company's end-to-end digital infrastructure offerings and contributed to the segment's revenue growth.

Dycom updated its full-year fiscal 2027 revenue guidance to $7.48 billion to $7.66 billion. The Communications segment outlook reflects a deferral of approximately $150 million of wireless program revenues into fiscal 2028, though overall program scope is unchanged. The Building Systems segment outlook increased due to higher expected Power Solutions revenue and contributions from the National Technology Integrators acquisition.

For the third quarter of fiscal 2027 ending October 31, 2026, Dycom expects total contract revenues of $1.90 billion to $1.98 billion, non-GAAP adjusted EBITDA of $281 million to $302 million, and non-GAAP adjusted diluted EPS of $4.33 to $4.79.