Dycom Industries Delivers Outstanding Q1 Results, Exceeding Expectations and Setting Stage for Strong Fiscal 2027
The first quarter of fiscal year 2027 has been a resounding success for Dycom Industries, Inc., with the company delivering exceptional results that exceeded expectations. Total revenues of $1.965 billion marked a 56% increase compared to Q1 FY 2026, driven by robust demand drivers and a disciplined approach to awards and execution.
"We delivered an outstanding start to the year, continuing to execute our strategy and capitalize on the generational set of opportunities across our business," said Daniel S. Peyovich, President and Chief Executive Officer of Dycom Industries. "Our results reflect the strength and resilience of our business model, as well as the confidence that our customers have in us."
Notably, the company's adjusted EBITDA of $262.5 million and adjusted EBITDA margin of 13.4% increased by 75% and 141 basis points, respectively, compared to Q1 FY 2026. Non-GAAP adjusted diluted EPS was $4.42, an 85% increase compared to the same period last year.
"We ended the quarter with record total backlog of $11.9 billion, growing 25% sequentially and representing a book-to-bill of 2.2 times for the quarter," said Peyovich. "These awards provide certainty and visibility that allow us to plan and invest for work far in the future, positioning us for multi-year growth."
The company's Communications segment generated significant revenue growth of 25% compared to Q1 FY 2026, driven by expansion into additional geographies and Fiber-to-the-Home builds. Demand for fiber infrastructure remains strong, with customers bullish about their multi-year build programs.
In the Building Systems segment, Power Solutions outpaced expectations, delivering $395.4 million of revenue and adjusted EBITDA margin of 17.7%. The company expects fiscal 2027 margins to be in a similar range to Q1 performance.
"I am immensely proud of our team for outperforming internal projections in a very short period," said Peyovich, highlighting the success of the Building Systems segment. "We have added an incredible team that has earned tremendous respect across all stakeholders."
As a result of these strong Q1 results, Dycom Industries is increasing its full-year fiscal 2027 outlook to a range of $7.38 billion-$7.65 billion. At the midpoint and excluding the extra week from last year, this represents total revenue growth of 38%, including 14% organic compared to last year.
