Dycom Reports Record Backlog and Growth
Revenue for Q1 FY2026 rose 10.2% year-over-year, with a record backlog of $8.1 billion as of quarter-end, and management raising full-year revenue guidance.
Dycom Industries, Inc. (NYSE:DY) reported first quarter fiscal 2026 earnings on May 21, 2025, surpassing the high end of its guidance across revenue, adjusted EBITDA (non-GAAP), and EPS. Revenue reached $1.26 billion, while adjusted EBITDA was $150.4 million (11.9% margin), and net income stood at $61 million.
Management raised full-year revenue guidance and reported a record next-twelve-months backlog of $4.7 billion, signaling broad-based demand across its telecom and digital infrastructure segments, supported by major customer diversification and continued expansion in service and maintenance contracts.
Backlog reached $8.1 billion, of which $4.7 billion is expected to convert to revenue in the next twelve months, demonstrating Dycom’s ability to secure long-duration projects from multiple large telecom and utility customers. The company’s mix of projects has grown increasingly diverse, with recurring service and maintenance contracts historically accounting for over 50% of total business, providing stability amid the shift of telecom operators to multi-year fiber buildouts.
