Dycom Industries: Fiscal 3Q Earnings Snapshot
PALM BEACH GARDENS, Fla. (AP) _ Dycom Industries Inc. (DY) on Tuesday reported fiscal third-quarter net income of $24.2 million.
The Palm Beach Gardens, Florida-based company said it had profit of 76 cents per share. Earnings, adjusted for amortization costs, came to 88 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.
The provider of specialty contracting services posted revenue of $884.1 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $846.4 million.
For the current quarter ending in January, Dycom Industries expects its results to range from a loss of 15 cents per share to earnings of 2 cents per share.
The company said it expects revenue in the range of $700 million to $740 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $753.5 million.
Dycom Industries shares have fallen nearly 8% since the beginning of the year. The stock has decreased 21% in the last 12 months.