Q2 2025 Dycom Industries Inc Earnings Call Transcript
Key Points
- Revenue increased year over year to $1.203 billion, an increase of 15.5%.
- Gross margin improved to 20.8% of revenue, up 52 basis points compared to the second quarter of fiscal 2024.
- Liquidity remains strong at $622 million.
- Completed the acquisition of Black & Veatch’s public carrier wireless telecommunications infrastructure business, expected to contribute $250 million to $275 million of revenue in fiscal year 2026.
- Backlog increased to $6.834 billion, with approximately $3.83 billion expected to be completed in the next 12 months.
- Wireless revenues were down 10-12% year over year, reflecting broader industry trends.
- General and administrative expenses increased to 8.3% of revenue, up from 8.1% in Q2 '24.
- Higher depreciation and amortization costs, which increased by $8.6 million.
- Higher interest expense, which increased by $2.4 million.
- Organic revenue growth is expected to decelerate in Q3, partly due to a wet August and potential slower activity from one customer.
Good day, and thank you for standing by, and welcome to the Dycom Industries Inc second quarter 2025 results conference call. (Operator Instructions) Again please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Mr. Steven Nielsen, Chief Executive Officer. Please go ahead, sir.
Good morning, everyone. Thank you for attending this conference call to review our second quarter fiscal 2025 results.
Going to slide 2. During this call, we will be referring to a slide presentation, which can be found on our website's Investor Center main page. Relevant slides will be identified by number throughout our presentation. Today, we have on the call Dan Peyovich, President and Chief Operating Officer; Drew DeFerrari, our Chief Financial Officer; and Ryan Urness, our General Counsel.
Now I will turn the call over to Ryan Urness.
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