Dycom Industries (DY) Q4 FY2024 earnings: revenue $952 million, up 3.8% on the year

Dycom Industries Inc. (DY) reported revenue of $952 million for Q4 FY2024, the quarter ended 27 January 2024, up 3.8% on the same quarter a year earlier. Net income was $23 million, down 5.6% on the year, and diluted earnings per share $0.79. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2024.

Revenue$952 millionup 3.8%

Net income$23 milliondown 5.6%

Diluted EPS$0.79

QuarterQ4 FY2024ended 27 January 2024

The quarter, against the one before and a year earlier

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Revenue	952	1,136	n/a	n/a
Cost of revenue	791	887	n/a	n/a
Gross profit	161	249	n/a	n/a
Gross margin	16.9%	22.0%	n/a
Operating income	42.8	119	n/a	n/a
Operating margin	4.5%	10.5%	n/a
Pre-tax income	31.8	112	n/a	n/a
Income tax	8.4	28.6	n/a	n/a
Effective tax rate	26.3%	25.5%	n/a
Net income	23.4	83.7	n/a	n/a
Net margin	2.5%	7.4%	n/a
Diluted EPS	$0.79	$2.82	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Operating cash flow	325	-37.3	n/a	n/a
Capital expenditure	57.4	67.2	n/a	n/a
Free cash flow	268	-105	n/a	n/a
Free cash flow margin	28.1%	-9.2%	n/a
Cash from investing	-52.7	-180	n/a	n/a
Cash from financing	-187	149	n/a	n/a
Depreciation and amortisation	45.3	42.5	n/a	n/a
Share-based compensation	6.2	6.3	n/a	n/a
Buybacks	29.4	0.0	n/a	n/a
Diluted shares, weighted	n/a	30m	n/a	n/a
Shares outstanding at period end	29m	29m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Shareholders' equity	1,055	1,054	n/a	n/a
Debt	791	949	n/a	n/a
Operating lease liabilities	44.1	43.8	n/a	n/a
Other liabilities	627	617	n/a	n/a
Total liabilities and equity	2,517	2,664	n/a	n/a
Fixed assets	445	431	n/a	n/a
Goodwill	312	310	n/a	n/a
Intangible assets	109	116	n/a	n/a
Cash and equivalents	101	15.7	n/a	n/a
Receivables	1,243	1,461	n/a	n/a
Inventory	109	114	n/a	n/a
Other assets	198	217	n/a	n/a
Total assets	2,517	2,664	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027	Q2 FY2027
Revenue	1,136	952	1,142	1,203	1,272	1,085	1,259	1,378	1,452	1,458	1,965	2,006
Cost of revenue	887	791	922	953	1,007	888	1,011	1,070	1,132	1,193	1,578	1,565
Gross profit	249	161	221	250	265	197	247	307	320	265	387	441
Gross margin	22%	17%	19%	21%	21%	18%	20%	22%	22%	18%	20%	22%
Operating income	119	42.8	81.0	104	102	53.7	85.4	140	151	49.1	144	192
Operating margin	11%	4%	7%	9%	8%	5%	7%	10%	10%	3%	7%	10%
Pre-tax income	112	31.8	77.4	94.8	91.3	44.2	78.6	131	140	17.9	107	154
Tax rate	25%	26%	19%	28%	24%	26%	22%	26%	24%	9%	14%	25%
Net income	83.7	23.4	62.6	68.4	69.8	32.7	61.0	97.5	106	16.3	91.3	116
Net margin	7%	2%	5%	6%	5%	3%	5%	7%	7%	1%	5%	6%
Diluted EPS	$2.82	$0.79	$2.12	$2.32	$2.37	$1.11	$2.09	$3.33	$3.63	$0.55	$3.00	$3.81
Operating cash flow	-37.3	325	-37.4	-7.5	65.8	328	-54.0	57.4	220	419	-24.6	104
Capital expenditure	67.2	57.4	42.0	65.4	74.6	68.5	79.5	51.7	55.2	54.4	70.3	69.5
Free cash flow	-105	268	-79.4	-72.9	-8.8	260	-133	5.8	165	365	-94.9	34.1
Buybacks	0.0	29.4	29.8	0.0	0.0	35.9	30.2	0.0	0.0	0.0	36.0	0.0
Shares outstanding	29m	29m	29m	29m	29m	29m	29m	29m	29m	30m	30m	30m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 27 January 2024, filed 1 March 2024, accession 0000067215-24-000014: the filing on EDGAR. All of Dycom Industries Inc.'s filings: EDGAR company page.

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