By Nicholas G. Miller
Shares of Dycom Industries surged after the company reported first-quarter earnings well above expectations, raised its fiscal-year guidance and agreed to acquire National Technology Integrators for $275 million.
The stock rose 26% to $528.16 in premarket trading. Through Tuesday's close, it was up 85% over the past 12 months.
The company, a specialty contractor for telecommunications infrastructure and utilities, raised its fiscal-year outlook for contract revenue to $7.38 billion to $7.65 billion, up from its previous forecast of $6.85 billion to $7.15 billion.
It guided for fiscal second-quarter contract revenue of $1.94 billion to $2.01 billion and adjusted earnings of $4.40 to $4.82 a share for the quarter. Wall Street had forecast an adjusted profit of $4.06 a share.
For the first quarter, the company posted adjusted earnings of $4.42 a share. Analysts polled by FactSet expected $2.72 a share.
Dycom said its acquisition of National Technology Integrators, a low-voltage engineering-and-construction firm, would expand its capabilities in the data-center industry, driving operational efficiencies and combined project wins.
"Demand for fiber infrastructure and data center builds is more robust today than it has ever been. We are strategically expanding our capabilities to meet this need both organically and through acquisitions," said Dycom Chief Executive Dan Peyovich.
Write to Nicholas G. Miller at nicholas.miller@wsj.com.
(END) Dow Jones Newswires
May 27, 2026 08:05 ET (12:05 GMT)
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