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Dycom Industries says second-quarter earnings, revenue to fall short of previous guidance

The NYSE-listed firm said after bad weather reduced the number of available working days and hurt margins and productivity, it now expects quarterly adjusted per share earnings to range from 9 US cents to 12 US cents, below previous guidance
Shares down
Dycom also said its second-quarter revenue is expected to be at about US$655mln below the midpoint of its previous guidance

Dycom Industries Inc.’s (NYSE:DY) shares fell 3% in pre-market trading on Monday after the specialty contractor warned that its second-quarter earnings would fall short of previous guidance.

The NYSE-listed firm said that after bad weather reduced the number of available working days and hurt margins and productivity, it now expects quarterly adjusted earnings per share to range from 9 US cents to 12 US cents, below previous guidance.

2019 revenue, adjusted EPS guidance 

The group also said its second-quarter revenue is expected to be at about US$655mln below the midpoint of its previous guidance.

For fiscal 2019, Dycom is expecting revenue of US$3.30bn to US$3.50bn and adjusted EPS of US$5.22 to US$6.14, compared to consensus for US$3.29bn and US$5.02 respectively.

The company said it will report second-quarter earnings on February 28.

In pre-market New York trading, Dycom shares were 3.2% lower at US$107.60.

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