Contract revenues for the quarter ended October 25, 2025 reached $1.452 billion, a 14.1% year‑over‑year increase from $1.272 billion in the same period last year. The growth was largely driven by strong demand for fiber‑to‑the‑home and wireless modernization projects, as well as a surge in data‑center and broadband contracts. The company’s backlog climbed to $8.2 billion, underscoring continued visibility into future revenue streams.
Adjusted EBITDA rose to $219.4 million, representing a 15.1% margin that outpaced the 13.4% margin reported a year earlier and exceeded the consensus margin estimate of 14.6%. The margin expansion reflects operational leverage from higher‑margin fiber and data‑center work, as well as disciplined cost management amid rising input prices.
Net income climbed to $106.4 million, translating into diluted earnings per share of $3.63. The $0.42–$0.48 beat on EPS—about 13–15% above the consensus range of $3.15 to $3.21—was driven by the higher‑margin mix, effective cost control, and the absence of significant one‑time charges.
Management raised its full‑year revenue outlook to $5.350 billion–$5.425 billion, an increase from the prior guidance of $5.300 billion–$5.375 billion. The updated Q4 guidance of $1.26 billion–$1.34 billion signals confidence in sustained demand and the company’s ability to convert its sizable backlog into revenue.
The company also confirmed the acquisition of Power Solutions, LLC, a deal valued at approximately $1.95 billion to $2.0 billion. The transaction is expected to be immediately accretive to adjusted EBITDA and EPS, expanding Dycom’s footprint in data‑center and AI infrastructure and positioning it to capture growing demand in those high‑growth segments.
"We delivered an exceptional third quarter with record revenue, profitability, and backlog," said President and CEO Dan Peyovich. "The demand drivers for telecommunications and digital infrastructure have never been stronger, fueled by accelerating fiber builds, a massive ramp‑up in data‑center needs, and the much‑anticipated arrival of BEAD."
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