Dycom Industries (NYSE: $DY) has been in the spotlight lately, with investors closely watching its recent gains and strong results over the past three years. The company provides engineering, construction, and maintenance services for the utility and telecom sectors in the US.
Dycom builds and maintains networks, including 5G, 4G, fiber, and cable systems. Additionally, it offers maintenance and construction services for gas and electric utilities. On Wednesday, November 19, 2025, Dycom Industries released its Q3 results to a positive market reception. Let us take a closer look at the Q3 results.
Dycom Industries Q3 Results
For the third quarter, Dycom reported revenue of $1.45 billion, beating estimates of $1.41 billion, and a 14.1% YoY increase. The company reported an adjusted EPS of $3.63, beating estimates of $3.21. It reported an adjusted EBITDA of $119.4 million, beating estimates of $205.6 million.
The company attributed the positive Q3 results to organic revenue growth and acquisitions. Its acquired business revenue came in at $110.9 million in Q3, and $377.6 billion year to date. Meanwhile, quarterly contract revenue growth was up 7.2% on an organic basis. At the end of the quarter, its backlog stood at $8.2 billion. Dycom reported an operating margin of 14.7%, up from the 8% reported a year ago.
Q4 and Fiscal 2026 Forecast
The company expects revenue of $1.3 billion in Q4, in line with analysts’ forecasts. It expects Q4 adjusted EPS of $1.80, above estimates of $1.60. Dycom expects EBITDA of $147.5 million at the midpoint, above estimates of $145.7 million. For the full year, it increased in revenue outlook to $5.425 billion from the previous $5.350 billion, at the midpoint.
DY Stock Performance
Following the earnings and revenue beat, Dycom (DY) shares rose 11.08% to $392.02 as of 3:40 PM in New York. Year to date, the stock is up 89.03%, while over the past six months, it has gained 71.26%. Meanwhile, it is up 12.49% in the past month.
Analysts remain highly optimistic about its future, giving it a strong buy rating. They forecast an average price of $309.50, which is 4.58% downside based on the most recent price. The analysts forecast a wide range of prices, with a low of $275 and a high of $336.
Is Now The Time To Buy Dycom (DY)?
Dycom (DY) is a specialty contractor for the telecom and utility sectors. With expertise in construction, network design, and maintenance, it is an important partner in the modernization of critical infrastructure for many large players.
Its longstanding customer relationships mean it will continue to be a key player in the ongoing buildout of broadband and utility networks throughout the US. Based on its consistently strong results over the past few years, adding DY to your portfolio could potentially lead to gains as part of a long-term investment strategy.
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