Dycom Industries Files Q1 2024 10-Q
Ticker: DY · Form: 10-Q · Filed: 2024-05-23T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, infrastructure
TL;DR
Dycom's Q1 10-Q is in, showing balance sheet changes. Keep an eye on infrastructure spending.
AI Summary
Dycom Industries Inc. filed its 10-Q for the period ending April 27, 2024. The company, which operates in water, sewer, pipeline, and power line construction, reported its financial results for the quarter. The filing details changes in its balance sheet accounts, including common stock, additional paid-in capital, accumulated other comprehensive income, and retained earnings, as of April 27, 2024, compared to earlier dates in 2024 and 2023.
Why It Matters
This filing provides investors with an update on Dycom's financial position and performance, crucial for understanding the company's operational health and future prospects in the infrastructure construction sector.
Risk Assessment
Risk Level: medium — The filing is a standard quarterly report, but the infrastructure sector can be subject to economic cycles and regulatory changes.
Key Numbers
- 20240427 — Reporting Period End Date (Indicates the financial data reflects performance up to this date.)
- 20240523 — Filing Date (Shows when the report was officially submitted to the SEC.)
Key Players & Entities
- DYCOM INDUSTRIES INC (company) — Filer of the 10-Q
- 20240427 (date) — End of the reporting period
- 20240523 (date) — Filing date
- WATER, SEWER, PIPELINE, COMM AND POWER LINE CONSTRUCTION (industry) — Primary business of Dycom Industries
FAQ
What is the primary business of Dycom Industries Inc.?
Dycom Industries Inc. is primarily involved in Water, Sewer, Pipeline, Comm and Power Line Construction.
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ending on April 27, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed with the SEC on May 23, 2024.
What are some of the balance sheet accounts detailed in the filing?
The filing details changes in accounts such as Common Stock, Additional Paid-In Capital, Accumulated Other Comprehensive Income, and Retained Earnings.
What was the previous fiscal year end for Dycom Industries?
The previous fiscal year end for Dycom Industries was January 25, 2025, as indicated by the filing's context.
Filing Stats: 4,501 words · 18 min read · ~15 pages · Grade level 13.4 · Accepted 2024-05-23 08:56:10
Key Financial Figures
- $0.33 — ich Registered Common stock, par value $0.33 1/3 per share DY New York Stock Exchang
Filing Documents
- dy-20240427.htm (10-Q) — 1054KB
- dyq1fy202510qex311.htm (EX-31.1) — 11KB
- dyq1fy202510qex312.htm (EX-31.2) — 11KB
- dyq1fy202510qex321.htm (EX-32.1) — 6KB
- dyq1fy202510qex322.htm (EX-32.2) — 6KB
- 0000067215-24-000029.txt ( ) — 7186KB
- dy-20240427.xsd (EX-101.SCH) — 59KB
- dy-20240427_cal.xml (EX-101.CAL) — 94KB
- dy-20240427_def.xml (EX-101.DEF) — 265KB
- dy-20240427_lab.xml (EX-101.LAB) — 654KB
- dy-20240427_pre.xml (EX-101.PRE) — 512KB
- dy-20240427_htm.xml (XML) — 972KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION Item 1.
Financial Statements
Financial Statements 3 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 39 Item 4.
Controls and Procedures
Controls and Procedures 40
- OTHER INFORMATION
PART II - OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 41 Item 1A.
Risk Factors
Risk Factors 41 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 5. Other Information 41 Item 6. Exhibits 42 SIGNATURES 43 2 Table of Contents
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
. Financial Statements
Item 1 . Financial Statements. 3 Table of Contents DYCOM INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except share amounts) (Unaudited) April 27, 2024 January 27, 2024 ASSETS Current assets: Cash and equivalents $ 26,139 $ 101,086 Accounts receivable, net (Note 6) 1,372,804 1,243,256 Contract assets 68,460 52,211 Inventories 103,952 108,565 Income tax receivable — 2,665 Other current assets 55,466 42,253 Total current assets 1,626,821 1,550,036 Property and equipment, net 458,197 444,909 Operating lease right-of-use assets 80,477 76,348 Goodwill 315,308 311,991 Intangible assets, net 108,465 108,954 Other assets 22,340 24,647 Total assets $ 2,611,608 $ 2,516,885 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 212,887 $ 222,121 Current portion of debt 17,500 17,500 Contract liabilities 57,466 39,122 Accrued insurance claims 51,608 44,466 Operating lease liabilities 32,855 32,015 Income taxes payable 11,378 3,861 Other accrued liabilities 129,860 147,219 Total current liabilities 513,554 506,304 Long-term debt 842,422 791,415 Accrued insurance claims - non-current 54,389 49,447 Operating lease liabilities - non-current 47,119 44,110 Deferred tax liabilities, net - non-current 51,715 49,562 Other liabilities 21,777 21,391 Total liabilities 1,530,976 1,462,229 COMMITMENTS AND CONTINGENCIES (Note 20) Stockholders' equity: Preferred stock, par value $ 1.00 per share: 1,000,000 shares authorized: no shares issued and outstanding — — Common stock, par value $ 0.33 1/3 per share: 150,000,000 shares authorized: 29,091,158 and 29,091,278 issued and outstanding, respectively 9,697 9,697 Additional paid-in capital 7,823 6,217 Accumulated other comprehensive loss — ( 1,547 ) Retained earnings 1,063,112 1,040,289 Total stockholders' equity 1,080,632 1,054,656 Total liabilities and stockholders' equity $ 2,611,608 $ 2,516,885 See notes to the con