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Tuesday, November 24, 2020 1:44:02 PM
Contract revenues of $2.449 billion for the nine months ended October 24, 2020, compared to $2.602 billion for the nine months ended October 26, 2019. Contract revenues for the nine months ended October 24, 2020 decreased 6.1% on an organic basis after excluding $8.9 million and $4.7 million in contract revenues from storm restoration services for the nine months ended October 24, 2020 and October 26, 2019, respectively.
Non-GAAP Adjusted EBITDA of $265.3 million, or 10.8% of contract revenues, for the nine months ended October 24, 2020, compared to $254.6 million, or 9.8% of contract revenues, for the nine months ended October 26, 2019. Non-GAAP Adjusted EBITDA for the nine months ended October 26, 2019 excludes $11.0 million of income before taxes reflecting the net benefit of a contract modification.
On a GAAP basis, net income was $38.5 million, or $1.20 per common share diluted, for the nine months ended October 24, 2020, compared to $68.4 million, or $2.15 per common share diluted, for the nine months ended October 26, 2019. Non-GAAP Adjusted Net Income was $83.7 million, or $2.61 per common share diluted, for the nine months ended October 24, 2020, compared to $72.4 million, or $2.28 per common share diluted, for the nine months ended October 26, 2019. Non-GAAP Adjusted Net Income for the nine months ended October 26, 2019 excludes net income of $7.3 million, or $0.23 per common share diluted, reflecting the after-tax net benefit of a contract modification.
Net income on a GAAP basis for the nine months ended October 24, 2020 includes a pre-tax goodwill impairment charge of $53.3 million recognized during the first quarter for a reporting unit that generated revenue of less than 4% of Dycom's consolidated revenue and did not incur losses in fiscal 2020.
During the nine months ended October 24, 2020, the Company purchased $401.7 million aggregate principal amount of Notes for $371.4 million, including interest and fees. As a result, net income on a GAAP basis for the nine months ended October 24, 2020 includes a pre-tax gain of approximately $12.0 million.
Recent DY News
- Form 8-K - Current report • Edgar (US Regulatory) • 08/23/2024 09:13:10 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/23/2024 09:01:42 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/23/2024 08:35:15 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/22/2024 12:29:05 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/21/2024 09:09:19 PM
- Dycom Industries, Inc. to Participate in Upcoming Investor Conferences • GlobeNewswire Inc. • 08/21/2024 08:30:00 PM
- Dycom Industries, Inc. Acquires Black & Veatch's Public Carrier Wireless Telecommunications Infrastructure Business • GlobeNewswire Inc. • 08/21/2024 10:05:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/21/2024 10:03:24 AM
- Dycom Industries, Inc. Announces Fiscal 2025 Second Quarter Results • GlobeNewswire Inc. • 08/21/2024 10:00:00 AM
- Dycom Industries, Inc. to Host Fiscal 2025 Second Quarter Results Conference Call • GlobeNewswire Inc. • 08/09/2024 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/30/2024 09:03:04 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/30/2024 09:02:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/30/2024 09:02:40 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/12/2024 09:00:34 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/11/2024 08:49:14 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/17/2024 12:04:48 PM
- Dycom Announces Planned Leadership Transition • GlobeNewswire Inc. • 06/17/2024 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 09:02:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 09:02:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 09:02:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 09:01:58 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 09:01:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 09:01:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 09:01:29 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 09:01:20 PM
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