Dycom Results Top Estimate, Q2 Outlook Strong; Stock Up 8%

(RTTNews) - Dycom Industries Inc (DY), a provider of specialty contracting services, Monday reported first-quarter net earnings of $20.8 million or $0.59 per share compared with $18.7 million or $0.54 per share last year.

Revenues for the quarter were $510.4 million compared with $512.7 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.50 per share on revenues of $500.9 million for the quarter. Analysts' estimates typically exclude special items.

For the second quarter, the company expects earnings of $0.07 to $0.14 per share on revenues of $410 million to $430 million. Analysts expect earnings of $0.08 per share on revenues of $412 million.

Dycom provides engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, and other construction services to electric and gas utilities.