Track market-moving stories before they get noisy

A Feel-Good Summer Comedy From Director Chris Dowling Stars Chris Klein, Matt Cornett & Ramon Reed NASHVILLE, Tenn. and DENVER, May 19, 2026 /PRNewswire/ -- When two hard-partying fraternity brothers pose as Christian camp counselors to work off court-ordered community service, the summer quickly becomes more than either of them bargained for.

PLANO, Texas--(BUSINESS WIRE)-- #Cinemark--Cinemark Holdings, Inc. (NYSE: CNK), one of the largest and most influential theatrical exhibition companies in the world, today announced it delivered its highest-ever domestic box office performance for the month of May. These record-level results were fueled by broad moviegoer enthusiasm and the company's strategic programming of a well-balanced slate that included blockbusters, breakout mid-tier content and strong holdovers. The month was marked by exceptional.

Dycom Industries (DY) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Delivers Record First Quarter Results and Exceeds High End of Fiscal Q1 2027 Outlook
Raises Full Year Fiscal 2027 Outlook
Announces Acquisition of National Technology Integrators Further Extending Capabilities in the High-Growth Data Center Industry

First Quarter Highlights
(All metrics compared to the first quarter of fiscal 2026)

Contract revenues of $1.965 billion(*) increased 56.1%, or 24.7% organicallyNet income of $91.3 million(*), or $3.00(*) per common share dilutedAdjusted Net Income of $134.3 million(*), or $4.42(*) per common share dilutedAdjusted EBITDA of $262.5 million(*), or 13.4% of contract revenuesTotal backlog of $11.906 billion(*) an increase of 46.5%Entered into a definitive agreement to acquire National Technology IntegratorsRepurchased 100,000 shares for $36.0 million (*) Amount represents quarterly record or first quarter record result

WEST PALM BEACH, Fla., May 27, 2026 (GLOBE NEWSWIRE) -- Dycom Industries, Inc. (NYSE: DY) announced today its results for the first quarter ended May 2, 2026.

“Dycom delivered an outstanding start to the year that exceeded the high end of our expectations with strong revenue growth and margin expansion as well as record backlog,” said Dan Peyovich, Dycom’s President and Chief Executive Officer. “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. Power Solutions outperformed in its first full quarter as a part of the Building Systems segment and the acquisition of National Technology Integrators will further enhance our ability to provide comprehensive, end-to-end digital infrastructure solutions for our customers.”

“We are in an excellent position to drive continued growth and realize the opportunities we see ahead in this period of unprecedented and intensifying demand, while remaining highly disciplined in our project selection. As a result, we are raising our full year outlook. I want to thank all our teammates for their dedication to safety and execution certainty, which underpins our multi-year growth trajectory and our ability to continue delivering long-term value for our shareholders.”

First Quarter Results
Dollars in millions, except per share amounts

 Quarter Quarter    Ended Ended    May 2, 2026 April 26, 2025 % Change Contract revenues$1,964.8  $1,258.6  56.1% Organic Contract Revenues Growth %    24.7% Net income1$91.3  $61.0  49.5% Non-GAAP Adjusted Net Income2$134.3  $70.0  92.0% Diluted EPS1$3.00  $2.09  43.5% Non-GAAP Adjusted Diluted EPS2$4.42  $2.39  84.9% Non-GAAP Adjusted EBITDA$262.5  $150.4  74.6% Non-GAAP Adjusted EBITDA % of contract revenues 13.4%  11.9% 141bps Total Backlog$11,906.0  $8,127.1  46.5% 
Segment Results

In Communications, total contract revenues of $1.569 billion exceeded expectations and increased 24.7% organically compared to the prior year quarter. Growth during the period was driven by expansion into additional geographies and fiber-to-the-home builds that ramped ahead of expectations; all aided by a favorable seasonal backdrop. Non-GAAP Adjusted EBITDA margin of 12.3% increased 31 bps over the prior year quarter reflecting operating leverage and continued investment to scale the Company’s footprint and increase headcount, further strengthening Dycom’s position to execute on multi-year build programs.

In Building Systems, total contract revenues of $395.4 million and Non-GAAP Adjusted EBITDA margin of 17.7% driven by revenue growth and performance which ramped ahead of initial expectations.

Acquisition

Effective May 22, 2026, the Company entered into a definitive agreement to acquire National Technology Integrators, a tenured and fast-growing low-voltage engineering and construction firm based in Maryland, for total consideration of $275 million. The transaction is subject to customary closing and post-closing adjustments and is expected to close before the end of the second fiscal quarter.

National Technology Integrators specializes in inside-plant structured cabling, including within data centers, as well as advanced audio-visual and security systems, with operations spanning Washington D.C, Maryland, Virginia, Texas and the Midwest. At closing, the acquired business will be included in the Building Systems segment and is anticipated to have an initial annual revenue run-rate of approximately $175 million. Historically, the business achieved Adjusted EBITDA margins in the mid-to-high teens, which is expected to continue.

This acquisition enhances Dycom’s capabilities in the fast-growing digital infrastructure industry. The acquired company’s services are in high-demand and highly complementary to Dycom’s work in both segments, which will drive operational efficiencies and support greater combined project wins. The partnership also creates a significantly more complete fiber infrastructure offering, enabling Dycom to support customers from the initial connection at the server racks all the way through the networks connecting data centers, facilities, businesses and homes across America.

Outlook

The following outlook information for fiscal 2027 and the second quarter ended August 1, 2026 exclude any results from the pending acquisition of National Technology Integrators as impacts are dependent on the timing of completion.

Fiscal 2027 Annual Outlook

Based on its strong first quarter results and expectations for the remainder of the year, the Company is increasing its full year fiscal 2027 outlook and now expects the following:

 Fiscal Year Ending January 30, 2027Contract revenues$7.38 billion to $7.65 billion  Contract revenues by segment: Communications$6.03 billion to $6.20 billionBuilding Systems$1.35 billion to $1.45 billion
The Company continues to anticipate Adjusted EBITDA margin expansion for the year. In Communications, the Company continues to expect modest Adjusted EBITDA margin improvement compared to fiscal 2026 as operating leverage offsets continued investment to support growth. In Building Systems, the Company now expects Adjusted EBITDA margin in the high teens, similar to performance in the first quarter.

Second Quarter Fiscal 2027 Outlook:

For the second quarter of fiscal 2027, the Company currently expects the following:

 Quarter Ending August 1, 2026Contract revenues$1.94 billion to $2.01 billionNon-GAAP Adjusted EBITDA$284 million to $303 millionNon-GAAP Adjusted Diluted EPS (excluding amortization expense)$4.40 to $4.82
For additional information regarding the Company’s outlook, please see the “Outlook Expectations Summary” available on the Company’s Investor Center website posted in connection with the conference call discussed below.

Use of Non-GAAP Financial Measures

The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). In quarterly results releases, conference calls, webcasts, slide presentations and other materials, the Company may use or discuss non-GAAP financial measures, as defined by Regulation G of the Securities and Exchange Commission. The Company does not reconcile its forward-looking non-GAAP financial measures to the corresponding U.S. GAAP measures, due to variability in making projections and/or certain information not being ascertainable; and because not all of the information and components necessary for a quantitative reconciliation of these forward-looking non-GAAP financial measures to the most directly comparable U.S. GAAP financial measure, is available to the Company without unreasonable efforts. For the same reasons, the Company is unable to address the probable significance of the unavailable information. See Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures in the press release tables that follow.

Conference Call Information and Other Selected Data

The Company will host a conference call to discuss first quarter results on Wednesday, May 27, 2026 at 9:00 a.m. ET. Interested parties may participate in the question and answer session of the conference call by registering at https://register-conf.media-server.com/register/BIc988a8ba8b25404b95f6070d40129047. Upon registration, participants will receive a dial-in number and unique PIN to access the call. Participants are encouraged to join approximately ten minutes prior to the scheduled start time.

For all other attendees, a live listen-only audio webcast of the call, including an accompanying slide presentation, can be accessed directly at https://edge.media-server.com/mmc/p/yago4jtm  A replay of the live webcast and the related materials will be available on the Company's Investor Center website at https://ir.dycomind.com for approximately 120 days following the event.

About Dycom Industries, Inc.

Dycom is a leading provider of specialty contracting services to the telecommunications infrastructure and utility industries throughout the United States. These services include program management, planning, engineering and design; aerial, underground, and wireless construction; maintenance; and fulfillment services for telecommunications providers. Additionally, Dycom provides electrical contracting services for data centers and other vital industries, underground facility locating services for various utilities, including telecommunications providers, as well as other construction and maintenance services for electric and gas utilities.

Forward Looking Information

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward looking statements can be identified with words such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” “project,” “forecast,” “target,” “outlook,” “may,” “should,” “could,” and similar expressions, as well as statements written in the future tense. These statements, as well as any other written or oral forward-looking statements we may make from time to time in other SEC filings or other public communications are intended to qualify for the “safe harbor” from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include those related to the Company’s current assumptions regarding future business and financial performance, including, but not limited to, those statements found under the “Outlook” section of this press release. These forward-looking statements also include those related to the ability of the Company to consummate the anticipated transaction to acquire National Technology Integrators on a timely basis, or at all; the ability to retain the key employees of the acquired business; unfavorable reaction to the anticipated transaction by key stakeholders, including customers and employees; the ability of the Company to identify and recognize the anticipated benefits of the proposed transaction; and the ability to successfully integrate the acquired business and related operations. Forward-looking statements are based on management’s expectations, estimates and projections, are made solely as of the date these statements are made, and are subject to both known and unknown risks and uncertainties that may cause the actual results and occurrences discussed in these forward-looking statements to differ materially from those referenced or implied in the forward-looking statements contained in this press release. The most significant of these known risks and uncertainties are described in the Company’s Form 10-K, Form 10-Q, and Form 8-K reports (including all amendments to those reports) and include: projections of revenues, income or loss, or capital expenditures; future economic conditions and trends in the industries we serve; changes in government policies and laws affecting our business, including related to funding for infrastructure projects, trade restrictions and tariff policies or changes to tax laws; our highly concentrated customer base; the competitive environment in which we operate; changes to customer capital budgets and spending priorities; our plans for future operations, growth and services, including contract backlog; our plans for future acquisitions, dispositions or financial needs; expected benefits and synergies of businesses acquired and future opportunities for the combined businesses; our significant accounts receivable and contract assets; the availability of capital; restrictions imposed by our senior notes and credit agreement; use of our cash flow to service our debt; potential liabilities or other adverse effects arising from occupational health, safety, and other regulatory matters; potential exposure to environmental liabilities; our potential exposure to litigation, indemnity claims, warranty claims, and other liabilities and disputes; whether the carrying value of the Company’s assets may be impaired; the impacts of public health emergencies; the impact of seasonality and adverse climate and weather conditions; the impact of technological change on our customers’ spending and our ability to keep pace with technological developments; our ability to attract qualified employees and subcontractors; the impact of a failure, outage or cybersecurity breach of our technology or information technology systems or those of third-party providers; and other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update its forward-looking statements.

For more information, contact:
Callie Tomasso, Vice President Investor Relations & Corporate Communications
Email: [email protected] 
Phone: (561) 627-7171

---Tables Follow---

DYCOM INDUSTRIES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(Dollars in thousands)Unaudited     May 2, 2026 January 31, 2026ASSETS   Current assets:   Cash and equivalents$538,826 $709,165Accounts receivable, net 1,980,558  1,696,973Contract assets 240,133  162,327Inventories 143,290  128,349Income tax receivable 16,897  19,869Other current assets 50,653  40,212Total current assets 2,970,357  2,756,895    Property and equipment, net 591,570  575,376Operating lease right-of-use assets 176,255  169,648Goodwill and other intangible assets, net 2,324,731  2,369,383Other assets 117,487  107,880Total assets$6,180,400 $5,979,182    LIABILITIES AND STOCKHOLDERS' EQUITY   Current liabilities:   Accounts payable$666,643 $497,263Current portion of debt 6,000  4,000Contract liabilities 155,812  158,503Accrued insurance claims 50,406  47,594Operating lease liabilities 44,773  42,288Income taxes payable —  771Other accrued liabilities 225,726  256,481Total current liabilities 1,149,360  1,006,900    Long-term debt 2,809,714  2,810,497Accrued insurance claims - non-current 66,024  57,977Operating lease liabilities - non-current 138,448  135,221Deferred tax liabilities, net - non-current 96,489  85,159Other liabilities 24,661  24,292Total liabilities 4,284,696  4,120,046    Total stockholders’ equity 1,895,704  1,859,136Total liabilities and stockholders’ equity$6,180,400 $5,979,182     DYCOM INDUSTRIES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(Dollars in thousands, except share amounts)Unaudited     Quarter Quarter Ended Ended May 2, 2026 April 26, 2025Contract revenues$1,964,782  $1,258,608     Costs of earned revenues, excluding depreciation and amortization 1,578,055   1,011,112 General and administrative3 131,329   103,726 Depreciation and amortization 111,644   58,389 Total 1,821,028   1,173,227     Interest expense, net (35,535)  (14,045)Other income, net (1,510)  7,264 Income before income taxes 106,709   78,600     Provision for income taxes 15,420   17,552     Net income$91,289  $61,048     Earnings per common share:       Basic earnings per common share$3.05  $2.11     Diluted earnings per common share$3.00  $2.09     Shares used in computing earnings per common share:    Basic 29,972,366   28,930,399     Diluted 30,382,270   29,263,624      DYCOM INDUSTRIES, INC. AND SUBSIDIARIESSUPPLEMENTAL SEGMENT DATAUnaudited     Quarter Quarter Ended Ended May 2, 2026 April 26, 2025 (Dollars in thousands)Contract revenues   Communications$1,569,407  $1,258,608 Building Systems 395,375   — Total$1,964,782  $1,258,608     Non-GAAP Adjusted EBITDA  Communications$192,422  $150,360 Building Systems 70,044   — Total$262,466  $150,360     Non-GAAP Adjusted EBITDA % of Contract Revenues  Communications 12.3%  11.9%Building Systems 17.7%  —%Total 13.4%  11.9%                  May 2, 2026 January 31, 2026 April 26, 2025 Total Backlog Next 12 Months (included in Total Backlog) Total Backlog Next 12 Months (included in Total Backlog) Total Backlog Next 12 Months (included in Total Backlog) (Dollars in millions)Backlog4           Communications$10,800 $5,376 $8,333 $5,250 $8,127 $4,685Building Systems 1,106  1,021  1,209  1,108  —  —Total$11,906 $6,397 $9,542 $6,358 $8,127 $4,685                   DYCOM INDUSTRIES, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
TO COMPARABLE GAAP FINANCIAL MEASURES (CONTINUED)

The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). In the Company’s quarterly results releases, slide presentations, conference calls, and webcasts, it may use or discuss Non-GAAP financial measures, as defined by Regulation G of the Securities and Exchange Commission. The Company believes that the presentation of certain Non-GAAP financial measures in these materials provides information that is useful to investors because it allows for a more direct comparison of the Company’s performance for the period reported with the Company’s performance in prior periods. The Company cautions that Non-GAAP financial measures should be considered in addition to, but not as a substitute for, the Company’s reported GAAP results. Management defines the Non-GAAP financial measures used as follows:

Non-GAAP Organic Contract Revenues - contract revenues from businesses that are included for the entirety of both the current and prior year periods. Non-GAAP Organic Contract Revenue change percentage is calculated as the change in Non-GAAP Organic Contract Revenues from the comparable prior year period divided by the comparable prior year period Non-GAAP Organic Contract Revenues. Management believes Non-GAAP Organic Contract Revenues is a helpful measure for comparing the Company’s revenue performance with prior periods. Non-GAAP Adjusted EBITDA - EBITDA (earnings before interest, taxes, depreciation and amortization) adjusted for gain on sale of fixed assets, stock-based compensation expense, and certain non-recurring items. Management believes Non-GAAP Adjusted EBITDA is a helpful measure for comparing the Company’s operating performance with prior periods as well as with the performance of other companies with different capital structures or tax rates. Non-GAAP Adjusted Net Income - GAAP net income before amortization of intangible assets as well as certain non-recurring items and the related tax impacts. The tax impact of pre-tax adjustments reflects the Company’s estimated tax impact of specific adjustments and the effective tax rate used for financial planning for the applicable period. Management believes Non-GAAP Adjusted Net Income is a helpful measure for comparing the Company’s operating performance with prior periods. Beginning in the fiscal fourth quarter ending January 31, 2026, the Company excludes the impact of intangible amortization expense in its calculation of Non-GAAP Adjusted Net Income. Non-GAAP Adjusted Diluted Earnings per Common Share - Non-GAAP Adjusted Net Income divided by weighted average diluted shares outstanding. DYCOM INDUSTRIES, INC. AND SUBSIDIARIESRECONCILIATION OF NON-GAAP FINANCIAL MEASURES(Dollars in thousands, except share amounts)Unaudited    NON-GAAP ORGANIC CONTRACT REVENUES AND GROWTH %     Quarter Quarter Ended Ended May 2, 2026 April 26, 2025Contract Revenues - GAAP$1,964,782  $1,258,608Contract Revenues - GAAP Growth % 56.1%      Contract Revenues - GAAP$1,964,782  $1,258,608Revenues from acquired businesses5 (395,375)  —Non-GAAP Organic Contract Revenues$1,569,407  $1,258,608Non-GAAP Organic Contract Revenues Growth % 24.7%       NON-GAAP ADJUSTED NET INCOME AND NON-GAAP ADJUSTED DILUTED EARNINGS PER COMMON SHARE     Quarter Quarter Ended Ended May 2, 2026 April 26, 2025Reconciliation of net income to Non-GAAP Adjusted Net Income:   Net income$91,289  $61,048     Pre-Tax Adjustments:   Amortization expense2 58,294   11,978     Tax Adjustments:   Tax impact of pre-tax adjustments (15,261)  (3,066)Total adjustments, net of tax 43,033   8,912     Non-GAAP Adjusted Net Income$134,322  $69,960     Reconciliation of diluted earnings per common share to Non-GAAP Adjusted Diluted Earnings per Common Share:   GAAP diluted earnings per common share$3.00  $2.09 Total adjustments, net of tax 1.42   0.30 Non-GAAP Adjusted Diluted Earnings per Common Share$4.42  $2.39     Shares used in computing Non-GAAP Adjusted Diluted Earnings per Common Share 30,382,270   29,263,624     Amounts in tables above may not add due to rounding. DYCOM INDUSTRIES, INC. AND SUBSIDIARIESRECONCILIATION OF NON-GAAP FINANCIAL MEASURES(Dollars in thousands)Unaudited    NON-GAAP ADJUSTED EBITDA     Quarter Quarter Ended Ended May 2, 2026 April 26, 2025Reconciliation of net income to Non-GAAP Adjusted EBITDA:   Net income$91,289  $61,048 Interest expense, net 35,535   14,045 Provision for income taxes 15,420   17,552 Depreciation and amortization 111,644   58,389 Earnings Before Interest, Taxes, Depreciation & Amortization ("EBITDA") 253,888   151,034 Gain on sale of fixed assets (1,995)  (9,773)Stock-based compensation expense 10,573   9,099 Non-GAAP Adjusted EBITDA$262,466  $150,360 Non-GAAP Adjusted EBITDA % of contract revenues 13.4%  11.9% DYCOM INDUSTRIES, INC. AND SUBSIDIARIESRECONCILIATION OF NON-GAAP FINANCIAL MEASURES(Dollars in thousands)Unaudited    COMMUNICATIONS SEGMENT - NON-GAAP ADJUSTED EBITDA     Quarter Quarter Ended Ended May 2, 2026 April 26, 2025Reconciliation of Income before income taxes to Non-GAAP Adjusted EBITDA:   Income before income taxes$118,847  $92,645 Interest (income) expense, net —   — Depreciation and amortization 65,211   58,389 EBITDA 184,058   151,034 Gain on sale of fixed assets (1,984)  (9,773)Stock-based compensation expense 10,348   9,099 Non-GAAP Adjusted EBITDA$192,422  $150,360 Non-GAAP Adjusted EBITDA % of contract revenues 12.3%  11.9%     BUILDING SYSTEMS SEGMENT - NON-GAAP ADJUSTED EBITDA     Quarter Quarter Ended Ended May 2, 2026 April 26, 2025Reconciliation of Income before income taxes to Non-GAAP Adjusted EBITDA:   Income before income taxes$23,801  $— Interest (income) expense, net (404)  — Depreciation and amortization 46,433   — EBITDA 69,830   — Gain on sale of fixed assets (11)  Stock-based compensation expense 226   — Non-GAAP Adjusted EBITDA$70,044  $— Non-GAAP Adjusted EBITDA % of contract revenues 17.7%  —%
Notes

1 Results for the quarter ended May 2, 2026 include income tax benefits resulting from the vesting and exercise of share-based awards of $12.5 million, or $0.41 per share, compared to $2.2 million, or $0.08 per share, for the quarter ended April 26, 2025.

2 The Company excludes amortization of intangible assets from its Non-GAAP Adjusted Net Income beginning with the results reported for the fourth quarter and fiscal year ended January 31, 2026. Amortization of intangible assets are impacted by the Company’s acquisition activities and therefore can vary from period to period. The exclusion of the amortization expense from the Company’s non-GAAP financial measures provides management with a consistent measure for assessing financial results. Prior periods have been adjusted for comparability with the current presentation as follows: Amortization expense of $12.0 million and the related tax impact has been excluded from the original reported Non-GAAP Adjusted Net Income for the quarter ended April 26, 2025.

3 Includes stock-based compensation expense of $10.6 million and $9.1 million for the quarters ended May 2, 2026 and April 26, 2025, respectively

4 The Company’s backlog represents an estimate of services to be performed pursuant to master service agreements and other contractual agreements over the terms of those contracts. These estimates are based on contract terms and evaluations regarding the timing of the services to be provided. In the case of master service agreements, backlog is estimated based on the work performed in the preceding 12-month period, when available. When estimating backlog for newly initiated master service agreements and other long and short-term contracts, the Company also considers the anticipated scope of the contract and information received from the customer during the procurement process. A significant majority of the Company’s backlog comprises services under master service agreements and other long-term contracts. Backlog is not a measure defined by United States GAAP and should be considered in addition to, but not as a substitute for, information provided in accordance with GAAP. Participants in the Company’s industry also disclose a calculation of their backlog; however, the Company’s methodology for determining backlog may not be comparable to the methodologies used by others. Dycom utilizes the calculation of backlog to assist in measuring aggregate awards under existing contractual relationships with its customers. The Company believes its backlog disclosures will assist investors in better understanding this estimate of the services to be performed pursuant to awards by its customers under existing contractual relationships.

5 Amounts represent contract revenues from acquired businesses that were not owned for the entirety of both the current and prior year periods.

Dycom Industries (DY - Free Report) reported $1.96 billion in revenue for the quarter ended April 2026, representing a year-over-year increase of 56.1%. EPS of $4.42 for the same period compares to $2.09 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $1.66 billion, representing a surprise of +18.02%. The company delivered an EPS surprise of +62.2%, with the consensus EPS estimate being $2.73.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Dycom Industries performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Backlog: $11.91 billion versus $9.68 billion estimated by three analysts on average.Revenues- Building Systems: $395.38 million versus $293.78 million estimated by three analysts on average.Revenues- Communications: $1.57 billion compared to the $1.36 billion average estimate based on three analysts.Adjusted EBITDA- Building Systems: $70.04 million compared to the $43.84 million average estimate based on three analysts.Adjusted EBITDA- Communications: $192.42 million versus the three-analyst average estimate of $163.61 million.View all Key Company Metrics for Dycom Industries here>>>

Shares of Dycom Industries have returned +4.2% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Dycom beat earnings with a stick -- then raised guidance.

Dycom (NYSE: DY) stock hits a 52-week high as Q1 earnings beat estimates. Revenue jumps 56% to $1.97B on strong fiber and data center demand.

May 27, 2026 16:01 ET  | Source: Dycom Industries Inc

WEST PALM BEACH, Fla., May 27, 2026 (GLOBE NEWSWIRE) -- Dycom Industries, Inc. (NYSE: DY) announced today that the Company will participate in the following upcoming institutional investor events:

Wednesday, June 3, 2026 – Stifel 2026 Cross Sector 1x1 Conference, Boston, MA
Senior management will participate in one-on-one and group meetings with investors. Wednesday, July 8, 2026 – Guggenheim Securities Fireside Chat, Virtual 
Senior management will present in a fireside chat format at 11:00 a.m. ET. The fireside chat presentation referenced above will be live audio webcasted and accessible from the Events and Presentations section of Dycom’s Investor Relations website at https://ir.dycomind.com. A replay of each webcast will be available for approximately 90 days following the live event.

About Dycom Industries, Inc.

Dycom is a leading provider of specialty contracting services to the telecommunications infrastructure and utility industries throughout the United States. These services include program management, planning, engineering and design; aerial, underground, and wireless construction; maintenance; and fulfillment services for telecommunications providers. Additionally, Dycom provides electrical contracting services for data centers and other vital industries, underground facility locating services for various utilities, including telecommunications providers, as well as other construction and maintenance services for electric and gas utilities.

For more information, contact:

Callie Tomasso, Vice President Investor Relations & Corporate Communications
Email: [email protected]
Phone: (561) 627-7171

Dycom Industries, Inc. delivered a blowout Q1, with revenues up 55.6% to $1.96B and a 26% share price surge. DY's growth was driven by both organic expansion (24.7%) and the Power Solutions acquisition, boosting data center infrastructure exposure. Backlog soared 46.5% to $11.9B, with a 2.2x book-to-bill ratio, and management raised full-year revenue guidance by 7%.

Dycom Industries (DY - Free Report) closed the last trading session at $485.97, gaining 6.3% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $631 indicates a 29.8% upside potential.

The mean estimate comprises 10 short-term price targets with a standard deviation of $18.41. While the lowest estimate of $610.00 indicates a 25.5% increase from the current price level, the most optimistic analyst expects the stock to surge 34.6% to reach $654.00. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.

While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.

However, an impressive consensus price target is not the only factor that indicates a potential upside in DY. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.

Price, Consensus and EPS Surprise

Here's What You Should Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.

While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?

They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.

However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.

That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.

Here's Why There Could be Plenty of Upside Left in DYThere has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

The Zacks Consensus Estimate for the current year has increased 0% over the past month, as two estimates have gone higher compared to no negative revision.

Moreover, DY currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Therefore, while the consensus price target may not be a reliable indicator of how much DY could gain, the direction of price movement it implies does appear to be a good guide.

Wondering how to pick strong, market-beating stocks for your investment portfolio? Look no further than the Zacks Style Scores.

The Construction group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Dycom Industries (DY - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Construction peers, we might be able to answer that question.

Dycom Industries is one of 88 companies in the Construction group. The Construction group currently sits at #16 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Dycom Industries is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for DY's full-year earnings has moved 12.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, DY has moved about 32% on a year-to-date basis. Meanwhile, the Construction sector has returned an average of 8.6% on a year-to-date basis. As we can see, Dycom Industries is performing better than its sector in the calendar year.

Another stock in the Construction sector, Orion Marine Group (ORN - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 34%.

For Orion Marine Group, the consensus EPS estimate for the current year has increased 12.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

To break things down more, Dycom Industries belongs to the Building Products - Heavy Construction industry, a group that includes 8 individual companies and currently sits at #43 in the Zacks Industry Rank. This group has gained an average of 27.3% so far this year, so DY is performing better in this area. Orion Marine Group is also part of the same industry.

Investors with an interest in Construction stocks should continue to track Dycom Industries and Orion Marine Group. These stocks will be looking to continue their solid performance.

IQV heads into Q1 earnings release with steady growth expectations, driven by AI-backed solutions, strong bookings and rising pharma demand.

Key Takeaways IQV Q1 adjusted EPS of $2.90 beat the estimate of $2.83; revenues of $4.15B rise 8.4% y/y.IQVIA Commercial Solutions revenues were $1.75B, up 11.6% y/y, led by patient and analytics demand.IQV R&D Solutions posted $34.2B in backlog; $2.5B in net bookings and 1.04X book-to-bill in Q1. IQVIA Holdings Inc. (IQV - Free Report) has posted first-quarter 2026 adjusted earnings of $2.90 per share, beating the Zacks Consensus Estimate of $2.83 by 2.5%. Revenues came in at $4.15 billion, topping the consensus mark of $4.08 billion by 1.6%.

Results improved year over year, with adjusted diluted earnings per share up 7.4% and revenues rising 8.4%. The quarter benefited from better-than-expected organic growth across the business, supported by strengthening demand indicators, including a $34.2-billion contracted backlog in the Research & Development Solutions business.

IQV's Commercial Solutions Growth Leads the QuarterCommercial Solutions delivered the sharpest top-line momentum in the quarter. Segmental revenues were $1.75 billion, increasing 11.6% on a reported basis and 8.5% at constant currency.

Management highlighted notable strength across patient solutions, analytics and consulting, and commercial engagement services. The company also pointed to growing traction in AI-enabled offerings, suggesting product innovation is contributing to sales performance alongside broader market demand.

IQVIA's R&D Franchise Shows Healthier Demand SignalsResearch & Development Solutions revenues were $2.40 billion, up 6.2% on a reported basis and 4.2% at constant currency. Excluding reimbursed expenses, R&D Solutions revenues increased 6.6% reported, reflecting healthier underlying service growth.

Beyond reported revenues, the bookings picture remained constructive. Net new bookings were $2.5 billion, with a first-quarter book-to-bill ratio of 1.04X and a trailing-12-month ratio of 1.11X. The company also expects $8.9 billion of contracted work to convert into revenues over the next 12 months, indicating 7.6% year-over-year growth, offering a clearer line of sight into near-term demand.

IQV's Profit Engine Supports Cash ConversionProfitability remained solid in the quarter, with adjusted EBITDA of $932 million, up 5.5% year over year. GAAP net income attributable to IQVIA was $274 million, reflecting continued earnings power alongside ongoing non-GAAP addbacks tied to restructuring and acquisition-related items.

Cash generation was a key positive. The operating cash flow rose 9% year over year to $618 million, while the free cash flow increased 15% to $491 million. Notably, the free cash flow equaled 100% of adjusted net income, underscoring strong conversion and disciplined working-capital management.

IQVIA's 2026 Outlook Mixes Stability With UpsideIQVIA reaffirmed its 2026 revenue guidance of $17.15-$17.35 billion and maintained its adjusted EBITDA outlook of $3.975-$4.025 billion, signaling confidence in the demand environment and delivery execution across both segments.

The company raised its full-year adjusted diluted earnings per share forecast to $12.65-$12.95, pointing to better operating performance than previously expected. The outlook assumes 150 basis points of acquisition contribution and an estimated 100 basis points of foreign-exchange tailwind, based on exchange rates as of May 4, 2026.

IQV's Balance Sheet & Capital Returns Stay in FocusIQVIA ended the quarter with $1.95 billion in cash and cash equivalents, and total debt of $15.83 billion, translating to net debt of $13.89 billion. The net leverage ratio was 3.62X trailing 12-month adjusted EBITDA, providing context for financial flexibility as the company balances investment needs with shareholder returns.

Capital allocation remained active. IQVIA repurchased $552 million worth of common stock during the quarter and had $1.22 billion remaining under its authorization as of March 31, 2026, reinforcing management’s continued emphasis on returning capital while maintaining leverage within its targeted framework.

IQV carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Earnings SnapshotVerisk Analytics, Inc. (VRSK - Free Report) reported first-quarter 2026 diluted adjusted earnings per share of $1.82, beating the Zacks Consensus Estimate of $1.76 by 3.4%. The figure increased 5.2% from the year-ago quarter.

Revenues came in at $782.6 million, topping the consensus mark of $775.9 million by 0.9% and rising 3.9% year over year. Organic constant-currency revenue growth was 4.7%, supported by continued momentum across the Insurance business.

Automatic Data Processing, Inc. (ADP - Free Report) posted third-quarter fiscal 2026 adjusted earnings per share of $3.37, beating the Zacks Consensus Estimate of $3.28 by 2.7%. The metric increased 10.1% from the year-ago quarter.

Total revenues came in at $5.94 billion, topping the consensus mark of $5.86 billion by 1.4% and rising 7% year over year. Operationally, Employer Services client revenue retention and overall client satisfaction reached record highs for the third quarter.

We initiated four new positions in Q1, an above-average pace of activity. We also used the increased volatility to upgrade overall portfolio quality. Our three largest new positions were Amazon.com, Universal Music Group and IQVIA Holdings. In addition to sales of Humana and PayPal, we also exited our positions in social technology leader Meta Platforms and beverages company Diageo.

MarketBeat Instant News Alerts

2 hours ago

Amkor Technology Target of Unusually Large Options Trading (NASDAQ:AMKR)MarketBeat

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) was the recipient of unusually large options trading on Friday. Investors acquired 12,436 call options on the company. This is an increase of approximately 48% compared to the average volume of 8,425 call options.

NASDAQ:AMKR

Read Amkor Technology Target of Unusually Large Options Trading (NASDAQ:AMKR)

3 hours ago

CocaCola (NYSE:KO) EVP Jennifer Mann Sells 23,984 SharesMarketBeat

CocaCola Company (The) (NYSE:KO - Get Free Report) EVP Jennifer Mann sold 23,984 shares of the firm's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $83.41, for a total value of $2,000,505.44. Following the completion of the transaction, the executive vice president owned 157,400 shares of the company's stock, valued at approximately $13,128,734. The trade was a 13.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

NYSE:KO

Read CocaCola (NYSE:KO) EVP Jennifer Mann Sells 23,984 Shares

Trending News All MarketBeat Instant News Alerts Sort By

Time Frame

Alert Type

Keywords

Page 1 of 324

Get 30 Days of MarketBeat All Access for Free

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools.

Start Your 30-Day Trial

Sign in to your free account to enjoy these benefits

In-depth profiles and analysis for 20,000 public companies. Real-time analyst ratings, insider transactions, earnings data, and more. Our daily ratings and market update email newsletter. Sign in to your free account to enjoy all that MarketBeat has to offer.

IQVIA Holdings Inc. (IQV) Presents at Bank of America Global Healthcare Conference 2026 Transcript

The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here's why you should take advantage.

VEEV and IQV are benefiting from life sciences digitization trends, but differences in growth, AI adoption and valuation set them apart.

IQVIA Holdings Inc. (“IQVIA”) (NYSE: IQV) today announced that its wholly owned subsidiary, IQVIA Inc. (the “Issuer”), intends to raise €950,000,000 t

It has been about a month since the last earnings report for IQVIA Holdings (IQV - Free Report) . Shares have added about 3.2% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is IQVIA due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.

IQVIA Surpasses Q1 Earnings EstimatesIQVIA Holdings reported impressive first-quarter 2026 results, wherein earnings and revenues beat the Zacks Consensus Estimate. IQV has posted first-quarter 2026 adjusted earnings of $2.90 per share, beating the Zacks Consensus Estimate of $2.83 by 2.5%. Revenues came in at $4.15 billion, topping the consensus mark of $4.08 billion by 1.6%.

Results improved year over year, with adjusted diluted earnings per share up 7.4% and revenues rising 8.4%. The quarter benefited from better-than-expected organic growth across the business, supported by strengthening demand indicators, including a $34.2-billion contracted backlog in the Research & Development Solutions business.

IQV's Commercial Solutions Growth Leads the QuarterCommercial Solutions delivered the sharpest top-line momentum in the quarter. Segmental revenues were $1.75 billion, increasing 11.6% on a reported basis and 8.5% at constant currency.

Management highlighted notable strength across patient solutions, analytics and consulting, and commercial engagement services. The company also pointed to growing traction in AI-enabled offerings, suggesting product innovation is contributing to sales performance alongside broader market demand.

IQVIA's R&D Franchise Shows Healthier Demand SignalsResearch & Development Solutions revenues were $2.40 billion, up 6.2% on a reported basis and 4.2% at constant currency. Excluding reimbursed expenses, R&D Solutions revenues increased 6.6% reported, reflecting healthier underlying service growth.

Beyond reported revenues, the bookings picture remained constructive. Net new bookings were $2.5 billion, with a first-quarter book-to-bill ratio of 1.04X and a trailing-12-month ratio of 1.11X. The company also expects $8.9 billion of contracted work to convert into revenues over the next 12 months, indicating 7.6% year-over-year growth, offering a clearer line of sight into near-term demand.

IQV's Profit Engine Supports Cash ConversionProfitability remained solid in the quarter, with adjusted EBITDA of $932 million, up 5.5% year over year. GAAP net income attributable to IQVIA was $274 million, reflecting continued earnings power alongside ongoing non-GAAP addbacks tied to restructuring and acquisition-related items.

Cash generation was a key positive. The operating cash flow rose 9% year over year to $618 million, while the free cash flow increased 15% to $491 million. Notably, the free cash flow equaled 100% of adjusted net income, underscoring strong conversion and disciplined working-capital management.

IQVIA's 2026 Outlook Mixes Stability With UpsideIQVIA reaffirmed its 2026 revenue guidance of $17.15-$17.35 billion and maintained its adjusted EBITDA outlook of $3.975-$4.025 billion, signaling confidence in the demand environment and delivery execution across both segments.

The company raised its full-year adjusted diluted earnings per share forecast to $12.65-$12.95, pointing to better operating performance than previously expected. The outlook assumes 150 basis points of acquisition contribution and an estimated 100 basis points of foreign-exchange tailwind, based on exchange rates as of May 4, 2026.

IQV's Balance Sheet & Capital Returns Stay in FocusIQVIA ended the quarter with $1.95 billion in cash and cash equivalents, and total debt of $15.83 billion, translating to net debt of $13.89 billion. The net leverage ratio was 3.62X trailing 12-month adjusted EBITDA, providing context for financial flexibility as the company balances investment needs with shareholder returns.

Capital allocation remained active. IQVIA repurchased $552 million worth of common stock during the quarter and had $1.22 billion remaining under its authorization as of March 31, 2026, reinforcing management’s continued emphasis on returning capital while maintaining leverage within its targeted framework.

How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a flat trend in estimates revision.

VGM ScoresCurrently, IQVIA has a average Growth Score of C, a score with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a score of B on the value side, putting it in the second quintile for value investors.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook IQVIA has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerIQVIA is part of the Zacks Medical - Instruments industry. Over the past month, OPKO Health (OPK - Free Report) , a stock from the same industry, has gained 30.4%. The company reported its results for the quarter ended March 2026 more than a month ago.

OPKO Health reported revenues of $124.2 million in the last reported quarter, representing a year-over-year change of -17.1%. EPS of -$0.07 for the same period compares with -$0.10 a year ago.

For the current quarter, OPKO Health is expected to post a loss of $0.08 per share, indicating a change of +57.9% from the year-ago quarter. The Zacks Consensus Estimate has changed -2.6% over the last 30 days.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for OPKO Health. Also, the stock has a VGM Score of F.

Shares of MYR Group (MYRG - Free Report) have been strong performers lately, with the stock up 26.8% over the past month. The stock hit a new 52-week high of $331.28 in the previous session. MYR has gained 50.7% since the start of the year compared to the 10.5% move for the Zacks Utilities sector and the -69.2% return for the Zacks Electric Construction industry.

What's Driving the Outperformance?The stock has an impressive record of positive earnings surprises, having beaten the Zacks Consensus Estimate in each of the last four quarters. In its last earnings report on February 25, 2026, MYR reported EPS of $2.33 versus consensus estimate of $1.73.

For the current fiscal year, MYR is expected to post earnings of $9.23 per share on $4.02 in revenues. This represents a 22.58% change in EPS on a 9.8% change in revenues. For the next fiscal year, the company is expected to earn $9.71 per share on $4.27 in revenues. This represents a year-over-year change of 5.16% and 6.28%, respectively.

Valuation MetricsThough MYR has recently hit a 52-week high, what is next for MYR? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.

On this front, we can look at the Zacks Style Scores, as these give investors a variety of ways to comb through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.

MYR has a Value Score of D. The stock's Growth and Momentum Scores are A and B, respectively, giving the company a VGM Score of B.

In terms of its value breakdown, the stock currently trades at 35.7X current fiscal year EPS estimates, which is a premium to the peer industry average of 31X. On a trailing cash flow basis, the stock currently trades at 27.6X versus its peer group's average of 27.6X. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.

Zacks RankWe also need to look at the Zacks Rank for the stock, as this is even more important than the company's VGM Score. Fortunately, MYR currently has a Zacks Rank of #1 (Strong Buy) thanks to favorable earnings estimate revisions from covering analysts.

Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if MYR passes the test. Thus, it seems as though MYR shares could still be poised for more gains ahead.

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering MYR Group (MYRG - Free Report) , which belongs to the Zacks Electric Construction industry.

This electrical construction services provider has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 23.66%.

For the last reported quarter, MYR came out with earnings of $2.33 per share versus the Zacks Consensus Estimate of $1.73 per share, representing a surprise of 34.68%. For the previous quarter, the company was expected to post earnings of $1.82 per share and it actually produced earnings of $2.05 per share, delivering a surprise of 12.64%.

Price and EPS Surprise

With this earnings history in mind, recent estimates have been moving higher for MYR. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

MYR currently has an Earnings ESP of +8.87%, which suggests that analysts have recently become bullish on the company's earnings prospects. This positive Earnings ESP when combined with the stock's Zacks Rank #1 (Strong Buy) indicates that another beat is possibly around the corner. We expect the company's next earnings report to be released on April 29, 2026.

Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.

Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

THORNTON, Colo., April 29, 2026 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR or the "Company”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced today its first-quarter 2026 financial results.

Highlights for First Quarter 2026

Quarterly revenues of $1.00 billionRecord quarterly net income of $46.8 million, or $2.99 per diluted shareRecord quarterly EBITDA of $81.5 millionRecord backlog of $2.84 billion Management Comments
Rick Swartz, MYR’s President and CEO, said, “We started the year with strong momentum, delivering year-over-year increases in revenue and gross profit, along with record quarterly net income, EBITDA, and backlog. By deepening relationships with strategic customers and continuing to invest in expanding our geographic footprint and market reach, we are creating meaningful long-term growth opportunities and strengthening our competitive position. We believe our solid financial performance, disciplined execution, and favorable market outlook position us well to sustain this momentum through the remainder of 2026.”

First Quarter Results
MYR reported first-quarter 2026 revenues of $1.00 billion, an increase of $166.8 million, compared to the first quarter of 2025. Specifically, our Transmission and Distribution (“T&D”) segment reported quarterly revenues of $541.0 million, an increase of $79.2 million, from the first quarter of 2025, due to increases in revenue on unit price contracts and T&E contracts, partially offset by a decrease in revenue on fixed price contracts. Our Commercial and Industrial (“C&I”) segment reported quarterly revenues of $459.4 million, an increase of $87.6 million, from the first quarter of 2025, primarily due to an increase in revenue on fixed priced contracts.

Consolidated gross profit increased to $134.4 million in the first quarter of 2026, compared to $96.9 million for the first quarter of 2025. The increase in gross profit was due to higher margin and revenues. Gross margin increased to 13.4 percent for the first quarter of 2026 from 11.6 percent for the first quarter of 2025. The increase in gross margin was primarily due to a larger portion of our projects progressing at higher contractual margins, some of which are nearing completion. In the first quarter of 2026 gross margin was also positively impacted by better-than-anticipated productivity, favorable change orders and a favorable job closeout. These margin increases were partially offset by an increase in costs associated with project inefficiencies on certain projects. Changes in estimates of gross profit on certain projects resulted in a net gross margin increase of 0.8 percent for the first quarter of 2026, compared to a net gross margin decrease of 1.1 percent for the first quarter of 2025.

Selling, general and administrative expenses increased to $69.4 million in the first quarter of 2026, compared to $62.5 million for the first quarter of 2025. The period-over-period increase was primarily due to an increase in employee incentive compensation costs and an increase in employee-related expenses to support future growth.

Interest income increased to $0.9 million in the first quarter of 2026, compared to $0.2 million for the first quarter of 2025. The period-over-period increase was primarily due to higher average balances held in money market accounts in the first quarter of 2026 as compared to the first quarter of 2025.

Interest expense decreased to $0.7 million in the first quarter of 2026, compared to $1.4 million for the first quarter of 2025. The period-over-period decrease was primarily due to lower average outstanding debt balances and lower interest rates during the first quarter of 2026 as compared to the first quarter of 2025.

Income tax expense was $17.2 million for the first quarter of 2026, with an effective tax rate of 26.9 percent, compared to an income tax expense of $9.5 million for the first quarter of 2025, with an effective tax rate of 28.9 percent. The period-over-period change in tax rate was primarily due to a favorable impact from stock compensation excess tax benefits, partially offset by the impact of the net CFC tested income (“NCTI”) and other permanent difference items.

For the first quarter of 2026, net income was $46.8 million, or $2.99 per diluted share, compared to $23.3 million, or $1.45 per diluted share, for the same period of 2025. First-quarter 2026 EBITDA, a non-GAAP financial measure, was $81.5 million, compared to $50.2 million in the first quarter of 2025.

Backlog
As of March 31, 2026, MYR's backlog was $2.84 billion, which was an increase of $203.3 million, or 7.7 percent, from the $2.64 billion reported as of March 31, 2025. As of March 31, 2026, T&D backlog was $980.7 million and C&I backlog was $1.86 billion.

Balance Sheet
As of March 31, 2026, MYR had $460.5 million of borrowing availability under its $490 million revolving credit facility and $163.2 million in cash and cash equivalents.

Non-GAAP Financial Measures
To supplement MYR’s financial statements presented in accordance with generally accepted accounting principles in the United States (“GAAP”), MYR uses certain non-GAAP measures. Reconciliation to the nearest GAAP measures of all non-GAAP measures included in this press release can be found at the end of this release. MYR’s definitions of these non-GAAP measures may differ from similarly titled measures used by others. These non-GAAP measures should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP.

MYR believes that these non-GAAP measures are useful because they (i) provide both management and investors meaningful supplemental information regarding financial performance by excluding certain expenses and benefits that may not be indicative of recurring core business operating results, (ii) permit investors to view MYR’s performance using the same tools that management uses to evaluate MYR’s past performance, reportable business segments and prospects for future performance, (iii) publicly disclose results that are relevant to financial covenants included in MYR’s credit facility and (iv) otherwise provide supplemental information that may be useful to investors in evaluating MYR.

Conference Call
MYR will host a conference call to discuss its first-quarter 2026 results on Thursday, April 30, 2026 at 8:00 a.m. Mountain time. To participate via telephone and join the call live, please register in advance here: https://register-conf.media-server.com/register/BIb2b0665d809c4dcb972f1f82519c1892. Upon registration, telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number and a unique passcode. Participants may access the audio-only webcast of the conference call from the Investors page of MYR Group’s website at myrgroup.com. A replay of the webcast will be available for seven days.

About MYR Group Inc.
MYR Group is a holding company of leading, specialty electrical contractors providing services throughout the United States and Canada through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). MYR Group subsidiaries have the experience and expertise to complete electrical installations of any type and size. Through their T&D segment they provide services on electric transmission, distribution networks, substation facilities, clean energy projects and electric vehicle charging infrastructure. Their comprehensive T&D services include design, engineering, procurement, construction, upgrade, maintenance and repair services. T&D customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors. Through their C&I segment, they provide a broad range of services which include the design, installation, maintenance and repair of commercial and industrial wiring generally for data centers, clean energy projects, airports, hospitals, hotels, commercial and industrial facilities, manufacturing plants, processing facilities, water/waste-water treatment facilities, mining facilities, intelligent transportation systems, roadway lighting, signalization, stadiums and electric vehicle charging infrastructure. C&I customers include general contractors, commercial and industrial facility owners, government agencies and developers. For more information, visit myrgroup.com.

Forward-Looking Statements
Various statements in this announcement, including those that express a belief, expectation, or intention, as well as those that are not statements of historical fact, are forward-looking statements. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future production, revenue, income, capital spending, segment improvements and investments. Forward-looking statements are generally accompanied by words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “likely,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,” “potential,” “should,” “unlikely,” or other words that convey the uncertainty of future events or outcomes. The forward-looking statements in this announcement speak only as of the date of this announcement. We disclaim any obligation to update these statements (unless required by securities laws), and we caution you not to rely on them unduly. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Forward-looking statements in this announcement should be evaluated together with the many uncertainties that affect MYR's business, particularly those mentioned in the risk factors and cautionary statements in Item 1A. of MYR's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in any risk factors or cautionary statements contained in MYR's subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K.

MYR Group Inc. Contact:
Jennifer Harper, Vice President, Investor Relations & Treasurer, 847-979-5835, [email protected]

Financial tables follow…

MYR GROUP INC.
Consolidated Balance Sheets
As of March 31, 2026 and December 31, 2025

(in thousands, except share and per share data)March 31,
2026 December 31,
2025 (unaudited)  ASSETS   Current assets:   Cash and cash equivalents$163,192  $150,156 Accounts receivable, net of allowances of $874 and $934, respectively 635,676   603,735 Contract assets, net of allowances of $500 and $534, respectively 224,263   241,766 Current portion of receivable for insurance claims in excess of deductibles 9,287   10,122 Refundable income taxes 1,796   — Prepaid expenses and other current assets 51,035   54,982 Total current assets 1,085,249   1,060,761 Property and equipment, net of accumulated depreciation of $424,415 and $413,962, respectively 307,739   306,386 Operating lease right-of-use assets 50,357   42,448 Goodwill 114,474   115,266 Intangible assets, net of accumulated amortization of $40,949 and $39,967, respectively 70,737   72,476 Receivable for insurance claims in excess of deductibles 19,753   21,358 Deferred income taxes 12,519   12,723 Investment in joint ventures 3,397   3,224 Other assets 9,199   9,437 Total assets$1,673,424  $1,644,079     LIABILITIES AND SHAREHOLDERS' EQUITY   Current liabilities:   Current portion of long-term debt$4,652  $4,554 Current portion of operating lease obligations 12,751   13,019 Current portion of finance lease obligations 799   804 Accounts payable 332,399   314,789 Contract liabilities, net 281,520   300,560 Current portion of accrued self-insurance 28,542   28,499 Accrued income taxes 33,027   15,129 Other current liabilities 133,985   117,923 Total current liabilities 827,675   795,277 Deferred income tax liabilities 49,907   50,119 Long-term debt 4,724   54,483 Accrued self-insurance 41,325   42,827 Operating lease obligations, net of current maturities 37,598   29,429 Finance lease obligations, net of current maturities 998   1,220 Other liabilities 8,378   10,301 Total liabilities 970,605   983,656 Commitments and contingencies   Shareholders’ equity:   Preferred stock—$0.01 par value per share; 4,000,000 authorized shares; none issued and outstanding at March 31, 2026 and December 31, 2025 —   — Common stock—$0.01 par value per share; 100,000,000 authorized shares; 15,568,110 and 15,522,834 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 155   155 Additional paid-in capital 162,373   165,211 Accumulated other comprehensive loss (9,486)  (8,183)Retained earnings 549,777   503,240 Total shareholders’ equity 702,819   660,423 Total liabilities and shareholders’ equity$1,673,424  $1,644,079  MYR GROUP INC.
Unaudited Consolidated Statements of Operations
Three Months Ended March 31, 2026 and 2025
 Three months ended
March 31,(in thousands, except per share data) 2026   2025 Contract revenues$1,000,380  $833,620 Contract costs 865,940   736,719 Gross profit 134,440   96,901 Selling, general and administrative expenses 69,423   62,524 Amortization of intangible assets 1,217   1,188 Gain on sale of property and equipment (922)  (1,101)Income from operations 64,722   34,290 Other income (expense):   Interest income 910   191 Interest expense (659)  (1,414)Other expense, net (948)  (300)Income before provision for income taxes 64,025   32,767 Income tax expense 17,225   9,459 Net income$46,800  $23,308 Income per common share:   —Basic$3.01  $1.46 —Diluted$2.99  $1.45 Weighted average number of common shares and potential common shares outstanding:   —Basic 15,539   15,994 —Diluted 15,676   16,056  MYR GROUP INC.
Unaudited Consolidated Statements of Cash Flows
Three Months Ended March 31, 2026 and 2025
 Three months ended
March 31,(in thousands) 2026   2025 Cash flows from operating activities:   Net income$46,800  $23,308 Adjustments to reconcile net income to net cash flows provided by operating activities:   Depreciation and amortization of property and equipment 16,546   15,005 Amortization of intangible assets 1,217   1,188 Stock-based compensation expense 3,386   2,333 Gain on sale of property and equipment (922)  (1,101)Other non-cash items 294   71 Changes in operating assets and liabilities:   Accounts receivable, net (32,573)  84,015 Contract assets, net 16,885   (34,023)Receivable for insurance claims in excess of deductibles 2,440   (305)Other assets 2,955   9,509 Accounts payable 15,715   (7,831)Contract liabilities, net (18,748)  (34,932)Accrued self-insurance (1,451)  (1,000)Other liabilities 32,205   27,049 Net cash flows provided by operating activities 84,749   83,286 Cash flows from investing activities:   Proceeds from sale of property and equipment 954   2,176 Purchases of property and equipment (16,132)  (13,066)Net cash flows used in investing activities (15,178)  (10,890)Cash flows from financing activities:   Borrowings under revolving lines of credit 48,003   230,695 Repayments under revolving lines of credit (95,417)  (215,761)Payment of principal obligations under equipment notes (2,247)  (2,156)Payment of principal obligations under finance leases (198)  (299)Repurchase of common stock —   (75,000)Payments related to tax withholding for stock-based compensation (6,487)  (2,451)Net cash flows used in financing activities (56,346)  (64,972)Effect of exchange rate changes on cash (189)  8 Net increase in cash and cash equivalents 13,036   7,432 Cash and cash equivalents:   Beginning of period 150,156   3,464 End of period$163,192  $10,896  MYR GROUP INC.
Unaudited Consolidated Selected Data,
Unaudited Performance Measure and Reconciliation of Non-GAAP Measure
For the Three and Twelve Months Ended March 31, 2026 and 2025 and
As of March 31, 2026, December 31, 2025, March 31, 2025 and March 31, 2024

 Three months ended
March 31, Last twelve months ended
March 31, (dollars in thousands, except share and per share data) 2026   2025   2026   2025  Summary Statement of Operations Data:        Contract revenues$1,000,380  $833,620  $3,824,649  $3,380,348  Gross profit$134,440  $96,901  $461,325  $300,977  Income from operations$64,722  $34,290  $197,304  $64,101  Income before provision for income taxes$64,025  $32,767  $192,542  $56,164  Income tax expense$17,225  $9,459  $50,634  $21,532  Net income$46,800  $23,308  $141,908  $34,632  Tax rate 26.9%  28.9%  26.3%  38.3%          Per Share Data:        Income per common share:        —Basic$3.01  $1.46  $9.13 (1)$2.19 (1)—Diluted$2.99  $1.45  $9.07 (1)$2.18 (1)Weighted average number of common shares and potential common shares outstanding:        —Basic 15,539   15,994   15,531 (2) 16,290 (2)—Diluted 15,676   16,056   15,635 (2) 16,344 (2) (in thousands)March 31,
2026 December 31,
2025 March 31,
2025 March 31,
2024Summary Balance Sheet Data:       Total assets$1,673,424 $1,644,079 $1,431,211 $1,489,163Total shareholders’ equity$702,819 $660,423 $548,672 $663,720Goodwill and intangible assets$185,211 $187,742 $187,589 $197,314Total funded debt (3)$9,376 $59,037 $87,159 $37,932  Three months ended
March 31,(dollars in thousands) 2026   2025 Segment Results:Amount Percent Amount PercentContract revenues:       Transmission & Distribution$540,970  54.1% $461,769  55.4%Commercial & Industrial 459,410  45.9   371,851  44.6 Total$1,000,380  100.0% $833,620  100.0%Operating income:       Transmission & Distribution$52,210  9.7% $36,221  7.8%Commercial & Industrial 37,204  8.1   17,377  4.7 Total 89,414  8.9   53,598  6.4 Corporate (24,692) (2.4)  (19,308) (2.3)Consolidated$64,722  6.5% $34,290  4.1% MYR GROUP INC.
Unaudited Performance Measures and Reconciliation of Non-GAAP Measures
Three and Twelve Months Ended March 31, 2026 and 2025

 Three months ended
March 31, Last twelve months ended
March 31,(in thousands, except share, per share data, ratios and percentages) 2026   2025   2026   2025         Financial Performance Measures (4):       EBITDA (5)$81,537  $50,183  $264,075  $128,137 EBITDA per Diluted Share (6)$5.20  $3.13  $16.89  $7.90 EBIA, net of taxes (7)$47,506  $25,022  $148,024  $41,573 Free Cash Flow (8)$68,617  $70,220  $230,592  $99,490 Book Value per Period End Share (9)$44.75  $35.21     Tangible Book Value (10)$517,608  $361,083     Tangible Book Value per Period End Share (11)$32.96  $23.17     Funded Debt to Equity Ratio (12) 0.01   0.16     Asset Turnover (13)     2.67   2.27 Return on Assets (14)     9.9%  2.3%Return on Equity (15)     25.9%  5.2%Return on Invested Capital (16)     25.2%  6.3%        Reconciliation of Non-GAAP Measures:       Reconciliation of Net Income to EBITDA:       Net income$46,800  $23,308  $141,908  $34,632 Interest (income) expense, net (251)  1,223   3,451   6,421 Income tax expense 17,225   9,459   50,634   21,532 Depreciation and amortization 17,763   16,193   68,082   65,552 EBITDA (5)$81,537  $50,183  $264,075  $128,137         Reconciliation of Net Income per Diluted Share to EBITDA per Diluted Share:       Net income per share$2.99  $1.45  $9.07  $2.18 Interest (income) expense, net, per share (0.02)  0.08   0.22   0.39 Income tax expense per share 1.10   0.59   3.24   1.32 Depreciation and amortization per share 1.13   1.01   4.36   4.01 EBITDA per Diluted Share (6)$5.20  $3.13  $16.89  $7.90         Reconciliation of Non-GAAP measure:       Net income$46,800  $23,308  $141,908  $34,632 Interest (income) expense, net (251)  1,223   3,451   6,421 Amortization of intangible assets 1,217   1,188   4,847   4,829 Tax impact of interest and amortization of intangible assets (260)  (697)  (2,182)  (4,309)EBIA, net of taxes (7)$47,506  $25,022  $148,024  $41,573         Calculation of Free Cash Flow:       Net cash flow from operating activities$84,749  $83,286  $328,030  $162,711 Less: cash used in purchasing property and equipment (16,132)  (13,066)  (97,438)  (63,221)Free Cash Flow (8)$68,617  $70,220  $230,592  $99,490          MYR GROUP INC.
Unaudited Performance Measures and Reconciliation of Non-GAAP Measures
As of March 31, 2026, 2025 and 2024

(in thousands, except per share amounts)March 31, 2026 March 31, 2025Reconciliation of Book Value to Tangible Book Value:   Book value (total shareholders' equity)$702,819  $548,672 Goodwill and intangible assets (185,211)  (187,589)Tangible Book Value (10)$517,608  $361,083     Reconciliation of Book Value per Period End Share to Tangible Book Value per Period End Share:   Book value per period end share$44.75  $35.21 Goodwill and intangible assets per period end share (11.79)  (12.04)Tangible Book Value per Period End Share (11)$32.96  $23.17     Calculation of Period End Shares:   Shares outstanding 15,568   15,522 Plus: common equivalents 137   62 Period End Shares (17) 15,705   15,584  (in thousands)March 31, 2026 March 31, 2025 March 31, 2024Reconciliation of Invested Capital to Shareholders Equity:     Book value (total shareholders' equity)$702,819  $548,672  $663,720 Plus: total funded debt 9,376   87,159   37,932 Less: cash and cash equivalents (163,192)  (10,896)  (3,911)Invested Capital$549,003  $624,935  $697,741 Average Invested Capital (18)$586,969  $661,338    See notes at the end of this earnings release.

(1)        Last-twelve-months earnings per share is the sum of earnings per share reported in the last four quarters.
(2)        Last-twelve-months weighted average basic and diluted shares were determined by adding the weighted average shares reported for the last four quarters and dividing by four.
(3)        Funded debt includes outstanding borrowings under our revolving credit facility and our outstanding equipment notes.
(4)        These financial performance measures are provided as supplemental information to the financial statements. These measures are used by management to evaluate our past performance, our prospects for future performance and our ability to comply with certain material covenants as defined within our credit agreement, and to compare our results with those of our peers. In addition, we believe that certain of the measures, such as book value, tangible book value, free cash flow, asset turnover, return on equity, and debt leverage are measures that are monitored by sureties, lenders, lessors, suppliers and certain investors. Our calculation of each measure is described in the following notes; our calculation may not be the same as the calculations made by other companies.
(5)        EBITDA is defined as earnings before interest, taxes, depreciation and amortization. EBITDA is not recognized under GAAP and does not purport to be an alternative to net income as a measure of operating performance or to net cash flows provided by operating activities as a measure of liquidity. Certain material covenants contained within our credit agreement are based on EBITDA with certain additional adjustments, including our interest coverage ratio and leverage ratio, which we must comply with to avoid potential immediate repayment of amounts borrowed or additional fees to seek relief from our lenders. In addition, management considers EBITDA a useful measure because it provides MYR Group Inc. and its investors with an additional tool to compare our operating performance on a consistent basis by removing the impact of certain items that management believes to not directly reflect the company’s core operations. Management further believes that EBITDA is useful to investors and other external users of our financial statements in evaluating the company’s operating performance and cash flow because EBITDA is widely used by investors to measure a company’s operating performance without regard to items such as interest expense, taxes, depreciation and amortization, which can vary substantially from company to company depending upon accounting methods and book value of assets, useful lives placed on assets, capital structure and the method by which assets were acquired.
(6)        EBITDA per diluted share is calculated by dividing EBITDA by the weighted average number of diluted shares outstanding for the period. EBITDA per diluted share is not recognized under GAAP and does not purport to be an alternative to income per diluted share.
(7)        EBIA, net of taxes is defined as net income plus net interest plus amortization of intangible assets, less the tax impact of net interest and amortization of intangible assets. The tax impact of net interest and amortization of intangible assets is computed by multiplying net interest and amortization of intangible assets by the effective tax rate. Management uses EBIA, net of taxes, to measure our results exclusive of the impact of financing and amortization of intangible assets costs.
(8)        Free cash flow, which is defined as cash flow provided by operating activities minus cash flow used in purchasing property and equipment, is not recognized under GAAP and does not purport to be an alternative to net income, cash flow from operations or the change in cash on the balance sheet. Management views free cash flow as a measure of operational performance, liquidity and financial health.
(9)        Book value per period end share is calculated by dividing total shareholders’ equity at the end of the period by the period end shares outstanding.
(10)        Tangible book value is calculated by subtracting goodwill and intangible assets outstanding at the end of the period from shareholders’ equity. Tangible book value is not recognized under GAAP and does not purport to be an alternative to book value or shareholders’ equity.
(11)        Tangible book value per period end share is calculated by dividing tangible book value at the end of the period by the period end number of shares outstanding. Tangible book value per period end share is not recognized under GAAP and does not purport to be an alternative to income per diluted share.
(12)        The funded debt to equity ratio is calculated by dividing total funded debt at the end of the period by total shareholders’ equity at the end of the period.
(13)        Asset turnover is calculated by dividing the current period revenue by total assets at the beginning of the period.
(14)        Return on assets is calculated by dividing net income for the period by total assets at the beginning of the period.
(15)        Return on equity is calculated by dividing net income for the period by total shareholders’ equity at the beginning of the period.
(16)        Return on invested capital is calculated by dividing EBIA, net of taxes, less any dividends, by average invested capital. Return on invested capital is not recognized under GAAP, and is a key metric used by management to determine our executive compensation.
(17)        Period end shares is calculated by adding average common stock equivalents for the quarter to the period end balance of common stock outstanding. Period end shares is not recognized under GAAP and does not purport to be an alternative to diluted shares. Management views period end shares as a better measure of shares outstanding as of the end of the period.
(18)        Average invested capital is calculated by adding net funded debt (total funded debt less cash and marketable securities) to total shareholders’ equity and calculating the average of the beginning and ending of each period.

MYR Group Inc. (MYRG) Q1 2026 Earnings Call Transcript