$DY

DYCOM INDUSTRIES INC

CIK:0000067215|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2026	Jul. 26, 2025	Aug. 01, 2026	Jul. 26, 2025
Income Statement [Abstract]
Contract revenues	$ 2,005,907	$ 1,377,944	$ 3,970,689	$ 2,636,551
Costs of earned revenues, excluding depreciation and amortization	1,565,355	1,070,450	3,143,410	2,081,562
General and administrative	132,931	106,794	264,259	210,519
Depreciation and amortization	115,626	60,854	227,271	119,243
Total	1,813,912	1,238,098	3,634,940	2,411,324
Interest expense, net	(37,965)	(15,558)	(73,500)	(29,603)
Other (expense) income, net	(54)	6,830	(1,564)	14,093
Income before income taxes	153,976	131,118	260,685	209,717
Provision for income taxes	38,339	33,635	53,759	51,187
Comprehensive income	115,637	97,483	206,926	158,530
Net income	$ 115,637	$ 97,483	$ 206,926	$ 158,530
Earnings per common share:
Basic earnings per common share (in dollars per share)	$ 3.84	$ 3.37	$ 6.89	$ 5.48
Diluted earnings per common share (in dollars per share)	$ 3.81	$ 3.33	$ 6.81	$ 5.42
Shares used in computing earnings per common share:
Basic (in shares)	30,083,100	28,941,976	30,027,734	28,936,188
Diluted (in shares)	30,363,819	29,242,455	30,373,045	29,253,040

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Aug. 01, 2026	Jul. 26, 2025
Cash flows from operating activities:
Net income	$ 206,926	$ 158,530
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	227,271	119,243
Non-cash lease expense	32,616	25,518
Deferred income tax provision	19,650	35,506
Stock-based compensation	20,862	17,199
Provision for bad debt, net	431	1,600
Gain on sale of fixed assets	(4,334)	(19,875)
Amortization of debt issuance costs and other	3,786	1,495
Change in operating assets and liabilities, net of acquisitions:
Accounts receivable, net	(520,783)	(216,016)
Contract assets, net	(30,333)	(59,909)
Other current assets and inventories	(27,254)	(7,059)
Other assets	(10,862)	(23,630)
Income taxes payable/receivable	2,030	(63,511)
Accounts payable	117,534	49,553
Accrued liabilities, insurance claims, operating lease liabilities, and other liabilities	41,542	(15,166)
Net cash provided by operating activities	79,082	3,478
Cash flows from investing activities:
Capital expenditures	(139,833)	(131,188)
Proceeds from sale of assets	6,532	23,495
Cash paid for acquisitions, net of cash acquired	(238,293)	0
Net cash used in investing activities	(371,594)	(107,693)
Cash flows from financing activities:
Proceeds from borrowings on Credit Agreement, including term loan facilities	0	629,000
Principal payments on Credit Agreement, including term loan facilities	0	(544,000)
Repayment of debt assumed in acquisitions	(8,398)	0
Debt issuance costs	(103)	0
Repurchase of common stock	(35,963)	(30,185)
Principal payments on finance lease obligations	(97)	0
Exercise of stock options	(2,658)	(1,912)
Restricted stock tax withholdings	(29,354)	(12,998)
Net cash (used in) provided by financing activities	(76,573)	39,905
Net decrease in cash, cash equivalents and restricted cash	(369,085)	(64,310)
Cash, cash equivalents and restricted cash at beginning of period (Note 8)	710,869	94,474
Cash, cash equivalents and restricted cash at end of period (Note 8)	341,784	30,164
Supplemental disclosure of other cash flow activities and non-cash investing and financing activities:
Cash paid for interest	52,042	27,910
Cash paid for taxes, net	31,995	79,324
Purchases of capital assets included in accounts payable or other accrued liabilities at period end	10,127	6,793
Common stock issued for acquisitions	$ 44,957	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Aug. 01, 2026	Jan. 31, 2026
Current assets:
Cash and equivalents	$ 340,080	$ 709,165
Accounts receivable, net	2,277,804	1,696,973
Contract assets	221,211	162,327
Inventories	145,885	128,349
Income tax receivable	15,779	19,869
Other current assets	51,483	40,212
Total current assets	3,052,242	2,756,895
Property and equipment, net	613,593	575,376
Operating lease right-of-use assets	220,735	169,648
Goodwill	1,598,946	1,443,435
Intangible assets, net	935,389	925,948
Other assets	119,139	107,880
Total assets	6,540,044	5,979,182
Current liabilities:
Accounts payable	610,046	497,263
Current portion of debt	28,397	4,000
Contract liabilities	241,223	158,503
Accrued insurance claims	51,127	47,594
Operating lease liabilities	43,638	42,288
Income taxes payable	0	771
Other accrued liabilities	325,454	256,481
Total current liabilities	1,299,885	1,006,900
Long-term debt	2,791,336	2,810,497
Accrued insurance claims - non-current	69,767	57,977
Operating lease liabilities - non-current	185,087	135,221
Deferred tax liabilities, net - non-current	104,809	85,159
Other liabilities	25,254	24,292
Total liabilities	4,476,138	4,120,046
Stockholders’ equity:
Preferred stock, par value $1.00 per share: 1,000,000 shares authorized: no shares issued and outstanding	0	0
Common stock, par value $0.33 1/3 per share: 150,000,000 shares authorized: 30,155,100 and 29,969,648 issued and outstanding, respectively	10,052	9,990
Additional paid-in capital	379,441	381,659
Retained earnings	1,674,413	1,467,487
Total stockholders’ equity	2,063,906	1,859,136
Total liabilities and stockholders’ equity	$ 6,540,044	$ 5,979,182