NYSE$DY

Dycom Industries Inc. · Q3 2026 earnings

Q3 2026 earnings · · Before market open · Investor relations

Briefing

Dycom reported record revenue, EPS, and net income in Q3 of fiscal year 2026, supported by strong infrastructure demand.

Dycom delivered strong Q3 results with record revenue of $1.45B and net income of $106.4M. The company saw continued momentum in digital infrastructure investments, significantly increasing its backlog and operating cash flow.

  • Record contract revenue of $1.452 billion in Q3 FY26
  • Net income reached $106.4 million with GAAP EPS of $3.63
  • Backlog increased to $8.2 billion as of October 25, 2025
  • Strong operating cash flows of $220 million

Headline financials

Total Revenue

$1.45B

Previous: $1.27B+14.1%
EPS

$3.63

Previous: $2.37+53.2%
Adjusted EBITDA

$219M

Previous: $171M+28.5%
Adjusted EBITDA Margin

15.1%

Previous: 13.4%+12.7%
Total Backlog

$8.2B

No prior period
Capital Expenditures

-$186M

Previous: -$182M-2.4%
Free Cash Flow

$106M

Previous: -$161M+166.0%
Net Income

$106M

Previous: $69.8M+52.4%
Operating Income

-$1.25B

Previous: -$1.12B-11.3%
Gross Profit

-$1.13B

Previous: -$1.01B-12.3%
Cash & Equivalents

$110M

Previous: $15.3M+621.1%
Total Assets

$3.32B

Previous: $3.11B+6.7%

Revenue & EPS history

Dycom · Revenue · Quarterly

$1.45B

Q3 2026+14.1%vs Q3 2025
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Revenue by segment

Dycom · $1.96B total across 2 segments · Q1 2027

  • Communications
    $1.57B
  • Building Systems
    $395M

Forward guidance

Dycom expects continued strong demand in Q4 FY26 and raised the midpoint of its full-year revenue outlook.

Tailwinds

  • Increased midpoint of FY26 revenue outlook
  • Expected Q4 revenues between $1.26B and $1.34B
  • Anticipated Q4 non-GAAP EPS of $1.62 to $1.97
  • Expecting adjusted EBITDA between $140M and $155M in Q4
  • Fiscal year includes an extra week of operations

Headwinds

  • Seasonal impact on operations expected in Q4 due to winter weather
  • Potential material availability and labor cost pressures
  • Customer capital budget adjustments may impact project timing
  • Macroeconomic uncertainties could affect long-term outlook
  • Continued impact from integration of acquired businesses

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q3 2026

Historical avgQ3 2026

+1.1%

Avg return

Earnings day

+1.6%

Avg return

5 days after

+2.8%

Avg return

30 days after

57%

36 / 63 earnings

Positive

+19.5%

Q3 2015

Best reaction

-27.3%

Q4 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2027
Q4 2026-5.5%-10.7%-13.7%
Q3 2026+9.5%+15.0%+16.3%
Q2 2026-4.8%-5.9%+0.0%
Q1 2026+15.6%+16.3%+20.9%
Q4 2025-5.8%-6.4%-10.5%
Q3 2025-9.6%-10.5%-14.3%
Q2 2025-9.5%-10.4%+0.8%
Q1 2025+14.8%+16.4%+8.1%
Q4 2024+3.2%+5.7%+17.1%
Q3 2024+17.9%+17.0%+31.4%
Q2 2024+0.9%+0.6%-6.5%
Q1 2024+0.1%+3.9%+4.2%
Q4 2023+17.5%+22.6%+11.2%
Q3 2023-16.5%-16.5%-17.3%
Q2 2023+3.2%+1.3%-12.4%
Q1 2023+15.2%+17.4%+19.0%
Q4 2022+6.7%+5.1%+14.5%
Q3 2022+18.5%+15.4%+9.3%
Q2 2022-4.3%-6.2%-2.8%
Q1 2022-11.9%-9.8%-7.9%
Q4 2021+5.0%+10.8%+19.7%
Q3 2021-18.7%-19.4%-5.5%
Q2 2021+10.3%+26.1%+13.0%
Q1 2021+16.3%+25.8%+26.4%
Q4 2020-25.0%-34.1%-41.1%
Q3 2020+4.4%+4.2%-4.2%
Q2 2020+6.1%+8.0%+23.0%
Q1 2020+19.4%+12.2%+25.8%
Q4 2019-27.3%-21.8%-25.9%
Q3 2019-10.4%-10.9%-26.5%
Q2 2019+8.0%+8.2%+9.1%
Q3 2018+1.5%-0.2%+6.2%
Q2 2018-4.4%-4.2%-5.7%
Q1 2018+12.2%+15.6%+22.9%
Q4 2017-1.7%-0.4%+4.6%
Q3 2017-22.2%-23.4%-15.3%
Q2 2017+19.0%+17.8%+13.1%
Q1 2017-19.3%-17.6%-11.0%
Q4 2016-6.8%-8.3%-10.8%
Q3 2016+15.0%+16.5%+25.5%
Q2 2016-5.4%
Q1 2016+6.2%
Q4 2015+12.8%
Q3 2015+19.5%
Q2 2015+14.9%
Q1 2015+15.6%
Q4 2014+0.0%
Q3 2014-10.2%
Q2 2014+3.9%
Q1 2014+5.2%
Q4 2013-7.7%
Q3 2013+8.9%
Q2 2013+3.0%
Q1 2013+14.9%
Q4 2010-9.8%
Q4 2012-16.4%
Q3 2011+0.0%
Q3 2012-5.7%
Q2 2011+2.4%
Q2 2012-4.8%
Q1 2011-5.4%
Q4 2011-5.4%
Q1 2012-1.4%

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