News Release

Dycom Industries, Inc. Announces Fiscal 2023 First Quarter Results
May 25, 2022
PDF Version

First Quarter Highlights

  • Contract revenues of $876.3 million; 21.1% organic growth
  • Non-GAAP Adjusted EBITDA of $63.7 million
  • GAAP Net Income of $19.5 million, or $0.65 per common share diluted
  • Repurchased 200,000 common shares for $18.5 million during the quarter

PALM BEACH GARDENS, Fla., May 25, 2022 (GLOBE NEWSWIRE) -- Dycom Industries, Inc. (NYSE: DY) announced today its results for the first quarter ended April 30, 2022. Contract revenues were $876.3 million for the quarter ended April 30, 2022, compared to $727.5 million in the year ago period. Contract revenues increased 21.1% organically after excluding $3.9 million of contract revenues from storm restoration services in the year ago period. Non-GAAP Adjusted EBITDA was $63.7 million, or 7.3% of contract revenues, for the quarter ended April 30, 2022, compared to $44.1 million, or 6.1% of contract revenues, in the year ago period.

GAAP net income was $19.5 million, or $0.65 per common share diluted, for the quarter ended April 30, 2022. These results include income tax benefits of $2.5 million, or $0.09 per common share diluted, for the vesting and exercise of share-based awards, and $1.7 million, or $0.05 per common share diluted, for tax credits related to a tax filing for a prior year. There were no Non-GAAP adjustments for the quarter ended April 30, 2022.

For the year ago period, GAAP net income was $0.9 million, or $0.03 per common share diluted, and Non-GAAP Adjusted Net Loss was $1.2 million, or a loss of $0.04 per common share.

During the quarter ended April 30, 2022, the Company purchased 200,000 common shares in open market transactions for $18.5 million at an average price of $92.70 per share.

Outlook

The Company expects contract revenues for the quarter ending July 30, 2022 to increase mid-teens to 20% as a percentage of contract revenues as compared to the quarter ended July 31, 2021. Non-GAAP Adjusted EBITDA as a percentage of contract revenues is expected to range from in-line to modestly higher for the quarter ending July 30, 2022 as compared to the quarter ended July 31, 2021. For additional information regarding the Company’s outlook, please see the presentation materials available on the Company’s 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, trend schedules, conference calls, slide presentations, and webcasts, the Company may use or discuss Non-GAAP financial measures, as defined by Regulation G of the Securities and Exchange Commission. 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 fiscal 2023 first quarter results on Wednesday, May 25, 2022 at 9:00 a.m. Eastern time. A live webcast of the conference call and related materials will be available on the Company’s Investor Center website at https://ir.dycomind.com. Parties interested in participating via telephone should dial (833) 519-1313 (United States) or (914) 800-3879 (International) with the conference ID 5973137, ten minutes before the conference call begins. For those who cannot participate at the scheduled time, a replay of the live webcast and the related materials will be available 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 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 underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.

Forward Looking Information

This press release contains forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act. These statements include those related to the outlook for the quarter ending July 30, 2022 found under the “Outlook” section of this release. These statements are subject to change. Forward-looking statements are based on management’s current expectations, estimates and projections. These statements are subject to risks and uncertainties that may cause actual results for completed periods and periods in the future to differ materially from the results projected or implied in any forward-looking statements contained in this press release. The most significant of these 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 the duration and severity of a pandemic caused by COVID-19, our ability to comply with various COVID-19 legal and contractual requirements and the impacts that those requirements may have on our workforce and our ability to perform our work, vaccination rates in the areas where we operate, any worsening of the pandemic caused by increasing infection rates triggered by new variants, future economic conditions and trends including the potential impacts of an inflationary economic environment, customer capital budgets and spending priorities, the availability and cost of materials, equipment and labor necessary to perform our work, the adequacy of the Company’s insurance and other reserves and allowances for doubtful accounts, whether the carrying value of the Company’s assets may be impaired, the future impact of any acquisitions or dispositions, adjustments and cancellations of the Company’s projects, the related impact to the Company’s backlog from project cancellations, weather conditions, the anticipated outcome of other contingent events, including litigation, liquidity and other financial needs, the availability of financing, the Company’s ability to generate sufficient cash to service its indebtedness, restrictions imposed by the Company’s credit agreement, and the 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 forward-looking statements.

For more information, contact:
Callie Tomasso, Investor Relations
Email: investorrelations@dycomind.com 
Phone: (561) 627-7171

---Tables Follow---

DYCOM INDUSTRIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)
Unaudited
    
 April 30, 2022 January 29, 2022
ASSETS   
Current assets:   
Cash and equivalents$185,568 $310,757
Accounts receivable, net 994,951  895,898
Contract assets 33,646  24,539
Inventories 94,067  81,291
Income tax receivable 14,537  12,729
Other current assets 47,182  30,876
Total current assets 1,369,951  1,356,090
    
Property and equipment, net 299,005  294,798
Operating lease right-of-use assets 62,127  61,101
Goodwill and other intangible assets, net 370,387  374,317
Other assets 30,642  31,918
Total assets$2,132,112 $2,118,224
    
LIABILITIES AND STOCKHOLDERS’ EQUITY   
Current liabilities:   
Accounts payable$176,447 $155,896
Current portion of debt 17,500  17,500
Contract liabilities 16,024  18,512
Accrued insurance claims 38,967  36,805
Operating lease liabilities 24,536  24,641
Income taxes payable —  233
Other accrued liabilities 122,207  128,209
Total current liabilities 395,681  381,796
    
Long-term debt 819,311  823,251
Accrued insurance claims - non-current 48,559  48,238
Operating lease liabilities - non-current 37,486  36,519
Deferred tax liabilities, net - non-current 57,794  55,674
Other liabilities 14,943  14,202
Total liabilities 1,373,774  1,359,680
    
Total stockholders’ equity 758,338  758,544
Total liabilities and stockholders’ equity$2,132,112 $2,118,224
    


DYCOM INDUSTRIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except share amounts)
Unaudited
    
 Quarter Quarter
 Ended Ended
 April 30, 2022 May 1, 2021
Contract revenues$876,300  $727,497 
    
Costs of earned revenues, excluding depreciation and amortization 745,730   620,011 
General and administrative1 69,380   67,011 
Depreciation and amortization 36,637   39,079 
Total 851,747   726,101 
    
Interest expense, net2 (9,118)  (5,877)
Loss on debt extinguishment3 —   (62)
Other income, net 4,795   2,717 
Income (loss) before income taxes 20,230   (1,826)
    
Provision (benefit) for income taxes4 694   (2,724)
    
Net income$19,536  $898 
    
Earnings per common share:   
    
Basic earnings per common share$0.66  $0.03 
    
Diluted earnings per common share$0.65  $0.03 
    
Shares used in computing earnings per common share:
    
Basic 29,638,833   30,675,625 
    
Diluted 30,119,561   31,299,469 
    


DYCOM INDUSTRIES, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
TO COMPARABLE GAAP FINANCIAL MEASURES
(Dollars in thousands)
Unaudited
 
CONTRACT REVENUES, NON-GAAP ORGANIC CONTRACT REVENUES, AND GROWTH %’s
          
 Contract
Revenues -
GAAP		 Revenues
from storm
restoration
services		 Non-GAAP
- Organic
Contract
Revenues		 GAAP -
Organic
Growth %		 Non-GAAP
- Organic
Growth %
Quarter Ended April 30, 2022$876,300 $—  $876,300 20.5% 21.1%
          
Quarter Ended May 1, 2021$727,497 $(3,869) $723,628    
          


NET INCOME AND NON-GAAP ADJUSTED EBITDA
    
 Quarter Quarter
 Ended Ended
 April 30, 2022 May 1, 2021
Reconciliation of net income to Non-GAAP Adjusted EBITDA:   
Net income$19,536  $898 
Interest expense, net 9,118   5,877 
Provision (benefit) for income taxes 694   (2,724)
Depreciation and amortization 36,637   39,079 
Earnings Before Interest, Taxes, Depreciation & Amortization ("EBITDA") 65,985   43,130 
Gain on sale of fixed assets (5,389)  (2,852)
Stock-based compensation expense 3,128   3,740 
Loss on debt extinguishment3 —   62 
Non-GAAP Adjusted EBITDA$63,724  $44,080 
Non-GAAP Adjusted EBITDA % of contract revenues 7.3%  6.1%
    


DYCOM INDUSTRIES, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
TO COMPARABLE GAAP FINANCIAL MEASURES (CONTINUED)
(Dollars in thousands, except share amounts)
Unaudited
  
NET INCOME, NON-GAAP ADJUSTED NET LOSS, DILUTED EARNINGS PER COMMON SHARE, NON-GAAP ADJUSTED LOSS PER COMMON SHARE, AND NON-GAAP ADJUSTED DILUTED SHARES
  
In fiscal 2022, the Company excluded certain tax impacts from the vesting and exercise of share-based awards when calculating Non-GAAP Adjusted Net Income (Loss). For comparability to other companies in the industry, the Company no longer excludes these tax impacts from its Non-GAAP measures beginning with the results for the first quarter of fiscal 2023. As there are no Non-GAAP adjustments for the first quarter of fiscal 2023, Non-GAAP Adjusted Net Income (Loss) for the quarter ended April 30, 2022 equals GAAP net income (loss).
  
 Quarter
 Ended
 May 1, 2021
Reconciliation of net income to Non-GAAP Adjusted Net Loss: 
Net income$898 
  
Pre-Tax Adjustments: 
Non-cash amortization of debt discount on 2021 Convertible Notes 663 
Loss on debt extinguishment3 62 
  
Tax Adjustments: 
Tax impact for the vesting and exercise of share-based awards5 (2,633)
Tax impact of pre-tax adjustments (196)
Total adjustments, net of tax (2,104)
  
Non-GAAP Adjusted Net Loss$(1,206)
  
Reconciliation of diluted earnings per common share to Non-GAAP Adjusted Loss per Common Share: 
GAAP diluted earnings per common share$0.03 
Adjustment for the vesting and exercise of share-based awards5 (0.09)
Total other adjustments, net of tax 0.02 
Non-GAAP Adjusted Loss per Common Share$(0.04)
  
Shares used in computing Non-GAAP Adjusted Loss per Common Share: 
GAAP Diluted Shares 31,299,469 
Adjustment for dilutive common stock equivalents6 (623,844)
Shares used in computing Non-GAAP Adjusted Loss per Common Share 30,675,625 
  
Amounts in table above may not add due to rounding.

DYCOM INDUSTRIES, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
TO COMPARABLE GAAP FINANCIAL MEASURES (CONTINUED)

Explanation of Non-GAAP Financial Measures

The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). In the Company’s quarterly results releases, trend schedules, conference calls, slide presentations, 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 entire period in both the current and prior year periods, excluding contract revenues from storm restoration services. 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 - net income before interest, taxes, depreciation and amortization, 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 (Loss) - GAAP net income before the non-cash amortization of the debt discount and the related tax impact, certain tax impacts resulting from vesting and exercise of share-based awards, and certain non-recurring items. Management believes Non-GAAP Adjusted Net Income (Loss) is a helpful measure for comparing the Company’s operating performance with prior periods.

  • Non-GAAP Adjusted Diluted Earnings (Loss) per Common Share and Non-GAAP Adjusted Diluted Shares - Non-GAAP Adjusted Net Income (Loss) divided by Non-GAAP Adjusted Diluted Shares outstanding. Non-GAAP Adjusted Diluted Shares used in the computation of Non-GAAP Adjusted Diluted Earnings (Loss) per Common Share is adjusted for common stock equivalents related to share-based awards in where their effect would be anti-dilutive.

Management excludes or adjusts each of the items identified below from Non-GAAP Adjusted Net Income (Loss) and Non-GAAP Adjusted Diluted Earnings (Loss) per Common Share:

  • Non-cash amortization of debt discount on 2021 Convertible Notes - The Company’s 0.75% convertible senior notes due September 2021 (the “2021 Convertible Notes”) were allocated between debt and equity components. The difference between the principal amount and the carrying amount of the liability component of the 2021 Convertible Notes represents a debt discount. The debt discount was amortized over the term of the 2021 Convertible Notes but did not result in periodic cash interest payments. The Company excludes the non-cash amortization of the debt discount from its Non-GAAP financial measures because it believes it is useful to analyze the component of interest expense for the 2021 Convertible Notes that would be paid in cash. The exclusion of the non-cash amortization from the Company’s Non-GAAP financial measures provides management with a consistent measure for assessing financial results.

  • Loss on debt extinguishment - During the quarter ended May 1, 2021, the Company recognized a loss on debt extinguishment of $0.1 million in connection with the amendment and restatement of its credit agreement maturing in April 2026. Management believes excluding the loss on debt extinguishment from the Company’s Non-GAAP financial measures assists investors’ overall understanding of the Company’s current financial performance and provides management with a consistent measure for assessing the current and historical financial results.

  • Tax impact of the vesting and exercise of share-based awards - In fiscal 2022, the Company excluded certain tax impacts resulting from the vesting and exercise of share-based awards. For comparability to other companies in the industry, the Company no longer excludes these tax impacts from its Non-GAAP measures beginning with the results for the first quarter of fiscal 2023.

  • Tax impact of pre-tax adjustments - 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.

Notes

 

1 Includes stock-based compensation expense of $3.1 million and $3.7 million for the quarters ended April 30, 2022 and May 1, 2021, respectively.

2 Includes pre-tax interest expense for non-cash amortization of the debt discount associated with the 2021 Convertible Notes of $0.7 million for the quarter ended May 1, 2021.

3 During the quarter ended May 1, 2021, the Company recognized a loss on debt extinguishment of $0.1 million in connection with the amendment and restatement of its credit agreement maturing in April 2026.

4 The quarter ended April 30, 2022 includes income tax benefits of $2.5 million, or $0.09 per common share diluted, for the vesting and exercise of share-based awards, and $1.7 million, or $0.05 per common share diluted, for tax credits related to a tax filing for a prior year. The quarter ended May 1, 2021 includes income tax benefits of $2.6 million, or $0.09 per common share diluted, for the vesting and exercise of share-based awards.

5 In fiscal 2022, the Company excluded certain tax impacts from the vesting and exercise of share-based awards when calculating Non-GAAP Adjusted Net Income (Loss). For comparability to other companies in the industry, the Company no longer excludes these tax impacts from its Non-GAAP measures beginning with the results for the first quarter of fiscal 2023. As there are no Non-GAAP adjustments for the first quarter of fiscal 2023, Non-GAAP Adjusted Net Income (Loss) for the quarter ended April 30, 2022 equals GAAP net income (loss).

As outlined in footnote 4 above, income tax benefits for the vesting and exercise of share-based awards for the year ago period were $2.6 million, or $0.09 per common share diluted. These amounts were excluded from the calculation of Non-GAAP Adjusted Net Loss in the year ago period. Inclusion of these tax impacts in the calculation would have resulted in Non-GAAP Adjusted Net Income of $1.4 million, or $0.05 per common share diluted, in the year ago period.

6 For the quarter ended May 1, 2021, shares used in the calculation of GAAP diluted earnings per common share include the dilutive impact of common stock equivalents related to share-based awards. For the calculation of Non-GAAP Adjusted Loss per Common Share, common stock equivalents related to share-based awards are excluded as their effect would be anti-dilutive.

 


Privacy Statement

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Last Updated: Feb 22, 2021

The privacy and security of your information is important to us. This Privacy Statement explains how Dycom Industries, Inc. (“Dycom,” “we” or “us”) collects, uses, and shares your information. This Privacy Statement applies to information collected by us through any means, including through our website and our social media pages or accounts (collectively, “Sites”), through our subsidiaries, and through other third parties.

By visiting or using our Sites, contacting us or otherwise providing information to us, you consent to our collection, use, storage, and sharing of your information as described in this Privacy Statement. If you disagree with anything in this Privacy Statement, you should not visit or use our Sites or provide your information to us.

If you are under 13 years of age, please do not use our Sites and do not send us any information about yourself.

If you are a California resident, you may have additional rights as described below in the section entitled “CALIFORNIA PRIVACY RIGHTS.”

If you are outside the United States, by using our Sites or by providing your information to us, you consent to have your Personal Information transferred to and stored in the United States.

INFORMATION WE COLLECT

We collect certain information that identifies, relates to, describes, and is reasonably capable of being associated with a particular consumer or household (“Personal Information”). Personal Information does not include publicly available information in government records or de-identified, anonymized, or aggregated consumer information.

We collect Personal Information and other information from or about you in a few different ways. Specifically, we may collect or receive information: (1) directly from you through information you provide; (2) indirectly from you by observing your actions on our website; and (3) from third parties such as Google, Facebook, and Instagram. Each of these is discussed in more detail below.

Information You Provide

You may provide information to us in a number of ways:

  • If you submit an inquiry through our website, we collect your name, email address, telephone number, and any other information you provide.
  • When you sign up for Dycom email alerts, you are redirected to our service provider’s site where our service provider collects your name, email, telephone number and company name, if provided. This information may be shared with us. You may unsubscribe to the alerts at any time by clicking the “unsubscribe” link that is included in each email alert.
  • If you request investor materials, you are redirected to our service provider’s site where our service provider collects your name, email, and other contact information you provide.
  • If you post information on our social media pages, that information may be collected and used by us (as well as other users of those sites and the public generally). Please do not post any information on any site that allows strangers to identify or locate you or that you otherwise do not want to share with the public.
  • When you submit a resume or application for employment, any information you provide will be collected and we may also obtain additional information through references, former employers, background checks, and credit reports.

Please note that, if you are visiting our website from a location outside of the United States, you will be connected through and to servers located in the United States. All information you provide will be maintained in our web server(s) and internal systems located in the United States.

Information Indirectly Collected from You

Cookies and Other Technologies. We automatically collect information from you using cookies and other technologies on our website.

Cookies are small text files offered to your computer by servers in order to keep track of your browser as you navigate our website. We may use cookies and similar technologies to identify who you are and may use them when you visit our website or click on links in our emails. Cookies also enable us to remember your user preferences for our website. Cookies and other technologies may also be used for site maintenance and analysis, performing network communications, authenticating users, and protecting against fraud and theft.

You can block or remove cookies using your Internet browser’s settings. Each browser is different, so check the “Help” menu of your browser to learn how to change your cookie preferences. To manage flash cookies, please see Flash Player Help. If you block or remove cookies, you may not be able to use certain functionality or access certain content on our website.

Clear GIFs (a.k.a. web beacons, web bugs or pixel tags), are tiny graphics with a unique identifier, similar in function to cookies. Clear GIFs are embedded invisibly on web pages. We may use clear GIFs, in connection with our website to, among other things, track the activities of visitors, help us manage content, and compile statistics about usage of the website. We and our third party service providers may also use clear GIFs in HTML emails to our clients, to help us track email response rates, identify when our emails are viewed, and track whether our emails are forwarded.

“Do Not Track” is a privacy setting that users can set in certain web browsers. If turned on, this setting requests that website not track information about users. At this time, we do not respond to “Do Not Track” browser settings or signals.

Traffic Data. We automatically track and collect general log information when you visit our website, including your: (a) Internet Protocol (IP) address; (b) browser type; (c) operating system; (d) time of visit; (e) the referring website page; and (f) the pages you visit on our website (collectively “Traffic Data“). Traffic Data does not personally identify you. We use the Traffic Data to report aggregated website activity and to better understand the needs of our users so we can make informed decisions regarding the content and design of our website. We may collect Traffic Data through various technologies including, but not limited to, cookies, IP addresses, and clear GIFs (Graphics Interchange Format, a software technology also known as a pixel tag).

Third Party Websites and Social Media Services. Our website may include links to third party websites or social media services where you may be able to post comments, reviews or other information. We may monitor comments and reviews regarding us, our products, or our Sites that you publicly post on social media or customer review sites. In addition, please note that your use of these third party websites or social media services may result in those sites collecting information about you. We are not responsible for these third party websites or social media services and you should review their privacy policies to make sure you understand the information that may be collected, used, and shared by those sites.

Information from Third Parties

Our Subsidiaries’ Websites. Our website includes links to our subsidiaries’ websites. If you submit information through any of those websites, it may be shared with us. Any information shared with us by our subsidiaries will be governed by this Privacy Statement.

Social Media Sites. To the extent you post information on our social media sites, we may collect such information. We may also receive Personal Information about you from certain social media sites such as Facebook, Instagram, and LinkedIn.

Third Party Analytics Services. We may work with third party analytics services such as Google Analytics to help us understand how our Sites are being used, such as tracking the number and frequency of visits to our website. These analytics services may use cookies and other technologies to collect this information. We receive reports of aggregated data from these services, but we do not receive Personal Information about individual users.

Categories of Information Collected

In the 12 months preceding the Last Updated date of this Privacy Statement, we have collected or received the following categories of Personal Information about consumers:

Category Examples of What We May Collect Collected
A. Identifiers A real name, alias, postal address, unique personal identifier, online identifier, Internet Protocol (IP) address, email address, account name. YES
B. Personal information categories listed in the California Customer Records statute (Cal. Civ. Code § 1798.80(e)). A name, address, telephone number, education, employment. Some personal information included in this category may overlap with other categories. YES
C. Protected classification characteristics under California or federal law. Age (40 years or older), race, color, ancestry, national origin, religion or creed, marital status, sex (including gender, gender identity, gender expression, pregnancy or childbirth and related medical conditions), veteran or military status. YES
D. Commercial information. Records of personal property, products or services purchased, obtained, or considered, or other purchasing or consuming histories or tendencies. NO
E. Biometric information. Genetic, physiological, behavioral, and biological characteristics, such as DNA sequences, fingerprints, facial geometry, voiceprints, iris or retina scans, and sleep, health or exercise data. NO
F. Internet or other similar network activity. Browsing history, search history, information on a consumer’s interaction with a website, application, or advertisement. YES
G. Geolocation data. Physical location or movements. NO
H. Sensory data Audio, electronic, visual, thermal, olfactory, or similar information. NO
I. Professional or employment-related information. Current or past job history or performance evaluations. YES
J. Non-public education information (per the Family Educational Rights and Privacy Act (20 U.S.C. Section 1232g, 34 C.F.R. Part 99)). Education records directly related to a student maintained by an educational institution or party acting on its behalf, such as grades, transcripts, class lists, student schedules, student identification codes, student financial information, or student disciplinary records. NO
K. Inferences drawn from other personal information. Profile reflecting a person’s preferences, characteristics, psychological trends, predispositions, behavior, attitudes, intelligence, abilities, and aptitudes. NO

HOW WE USE YOUR INFORMATION

We and our service providers may use Personal Information for the following purposes:

  • To respond to your inquiries.
  • To provide email alerts for which you sign up.
  • To provide investor materials requested by you or required by applicable law to be sent to you.
  • To manage any contractual relationship between us.
  • To process orders from our customers and deliver products and services.
  • To market and promote our products and services.
  • To present our website and related content to you.
  • To evaluate and make improvements to our website or social media presences.
  • To diagnose and fix problems with our website.
  • To secure our website and to prevent or detect criminal, unlawful, or harassing actions or conduct.
  • To provide product updates, news, and event information.
  • If you apply for a job, to evaluate your skills and experience, to verify previous employment, and to conduct background checks (as permitted by law).
  • If you apply for a job, to evaluate your skills and experience, to verify previous employment, and to conduct background checks (as permitted by law).

On other occasions where we ask you for consent, we will use the information for the purposes we provide at that time. You have the right to withdraw your consent at any time; however, we may have other legal grounds for storing and/or using your information, including those identified above.

SHARING AND DISCLOSURE OF PERSONAL INFORMATION

We do not sell your Personal Information. We may share your Personal Information as follows:

  • Subsidiaries. We may share Personal Information with our subsidiaries so they can respond to any inquiries or provide requested services.
  • Service Providers. We may disclose Personal Information to third party vendors, contractors or agents who perform functions on our behalf (“Service Providers”). For example, we may contract with Service Providers to provide certain services, such as providing data storage and management, analytics services, marketing services, employee benefits services, payroll services, or payment processing services. We only provide our Service Providers with Personal Information necessary for them to perform these services on our behalf. Each Service Provider must agree to use commercially reasonable security procedures and practices, appropriate to the nature of the information involved, to protect your Personal Information from unauthorized acquisition, access, use, or disclosure. Service Providers may only use the Personal Information they obtain from us or collect on our behalf to provide services to us.
  • Business Transfers. If we are acquired by, or merged with, another entity, if substantially all of our assets are transferred to another entity, or as part of a bankruptcy proceeding, or if we are evaluating or in negotiations with respect to any such transaction, we may transfer, or make available, the Personal Information we have collected from you to the other entity or resulting legal entity.
  • Legal Process. We also may disclose the Personal Information we collect from you: to comply with applicable laws and regulations, a government investigation, a judicial proceeding, a court order, or other legal process (such as in response to a subpoena); or to respond to discovery requests or present evidence in a legal proceeding in which we are involved.
  • To Protect Us and Others. We also may disclose the Personal Information we collect from you where we believe such disclosure is needed to investigate, prevent, or take action regarding illegal activities, suspected fraud, situations involving potential threats to the safety of any person, suspected violations of this Privacy Statement, and suspected violations of any applicable terms and conditions.
  • Aggregated and De-Identified Information. We may share aggregate or de-identified Personal Information with our service providers and/or affiliated companies for marketing, advertising, research, or similar purposes.
  • Job Applications. If you apply for a job position, some of your Personal Information may be shared with third parties in order to confirm your education, work history, and references, and to obtain background checks and credit reports if permitted by law.

In the 12 months preceding the Last Updated dated of this Privacy Statement, we have disclosed the following categories of Personal Information for a business purpose as described above:

Category A: Identifiers.
Category B: California Customer Records personal information categories.
Category C: Protected classification characteristics under California or federal law.
Category F: Internet or other similar network activity.
Category I: Professional or employment-related information.

CHILDREN’S PRIVACY

Our Sites, our products, and our services are not directed to children under the age of 13. Further, we do not knowingly collect Personal Information from children under the age of 13. If you become aware that your child has provided personally identifiable information without your consent and/or is under the age of 13, please contact us at privacy@dycomind.com. If we become aware that we have unknowingly collected Personal Information from a child under the age of 13, we will take commercially reasonable efforts to delete such information from our records.

YOUR PRIVACY CHOICES

You may opt-out of receiving email communications and other marketing materials from us (or any third-party email marketing service we may use) via links provided in each email (usually at the bottom of the email).

USER-GENERATED CONTENT

You may be able to post content on our social media pages, including your comments, photos, or other information. Information you provide or post to any third party sites is subject to that site’s privacy policy and practices. If you post such content on social media pages, all of the information or content that you post may be visible to other visitors or users and we cannot prevent such information from being used by others. Please carefully consider your content before posting. Further, please note that all such content is subject to removal if it violates any applicable law, poses a security risk, infringes the rights of someone else, or constitutes a threat, defamation, or harassment.

LINKS TO THIRD PARTY WEBSITES OR PLATFORMS

Our website may contain links to third party websites or platforms. These links are provided for your convenience. We are not responsible for and have no control over the content on these other websites or platforms. The inclusion of a link on our website is not an endorsement. Please note that when you click on one of these links, you will leave our website and will be subject to the policies and privacy practices of the other website or platform, which may differ significantly from our Privacy Statement. Please review such third parties’ privacy policies before providing any Personal Information to them.

We make no representations or warranties, express or implied, regarding the content of any of these linked websites or platforms. WE EXPRESSLY DISCLAIM ANY AND ALL LIABILITY FOR YOUR INTERACTION WITH SUCH THIRD PARTY WEBSITES OR PLATFORMS.

SECURITY OF YOUR INFORMATION

We use commercially reasonable security safeguards to help protect Personal Information from unauthorized access, alteration, loss, or disclosure. Despite these efforts, please understand that no system is perfect and we cannot guarantee that unauthorized access, theft, or loss of data will not occur. Please advise us immediately at privacy@dycomind.com of any incident involving Personal Information in our custody or control.

CHANGES TO THIS PRIVACY STATEMENT

We may revise this Privacy Statement at any time without advance notice to you. The most current version of our Privacy Statement will be posted on our website. Once posted, any changes to the Privacy Statement are effective immediately upon posting unless otherwise specifically noted. By continuing to access or use our Sites or otherwise provide any information to us after any changes are posted, you agree to be bound by the terms of the revised Privacy Statement.

SEVERABILITY

The provisions of this Privacy Statement are intended to be severable. If for any reason any provision of this Privacy Statement shall be held invalid or unenforceable in whole or in part in any jurisdiction, such provision shall, as to such jurisdiction, be ineffective to the extent of such invalidity or unenforceability without in any manner affecting the validity or enforceability thereof in any other jurisdiction or the remaining provisions hereof in any jurisdiction.

CHOICE OF LAW, JURISDICTION, AND VENUE

This Privacy Statement, your use of our Sites, and your provision of Personal Information to us shall be governed by and interpreted in accordance with the applicable laws of the United States and the State of Florida without giving effect to any choice of law or conflict of law provision or rule. By accessing or using our Sites or otherwise providing information to us, visitors from outside of the United States acknowledge that their access and/or use is subject to the laws and regulations of the United States and the State of Florida and waive any claims that may arise under other laws.

Any disputes arising from this Privacy Statement or your access to or use of our Sites shall be subject to the exclusive jurisdiction of the state and federal courts of the State of Florida and venue shall lie in Palm Beach County. By accessing or using any of our Sites or by providing your Personal Information to us, you consent and submit to the personal jurisdiction of such courts for such purposes and waive any and all objections as to jurisdiction or venue in such courts.

CALIFORNIA PRIVACY RIGHTS

The California Consumer Privacy Act (CCPA), California’s “Shine the Light” law, and the California Online Privacy Protection Act provide consumers who are California residents with specific rights regarding their Personal Information. If you are a California resident, this section describes your rights and explains how to exercise those rights.

Right to Information. Subject to certain limits, you may ask us to provide the following information for the 12-month period preceding your request:

  1. The categories of Personal Information we collected about you;
  2. The categories of sources from which the Personal Information was collected;
  3. The business or commercial purpose for collecting the Personal Information;
  4. The categories of third parties with whom we shared the Personal Information;
  5. If we disclosed Personal Information for a business purpose, a list of the disclosures including the Personal Information categories that each category of recipient received; and
  6. The specific pieces of Personal Information we collected about you.

We do not provide these information rights for Personal Information that we obtain through a business-to-business (B2B) relationship.

Right to Delete. You also have the right to ask us to delete any Personal Information that we have collected about you, subject to certain limitations under CCPA. We may deny your deletion request if the information is necessary for us or our service providers to, among other things, provide a good or service you requested, take actions reasonably anticipated in the context of our business relationship with you, perform a contract we have with you, detect and protect against security incidents or illegal activity, comply with a legal obligation, or exercise a right provided for by law.

Right to Nondiscrimination. We will not discriminate against you if you exercise your privacy rights under California law, including by:

  • Denying you goods or services.
  • Charging you different prices or rates for goods or services, including through granting discounts or other benefits, or imposing penalties.
  • Providing you a different level or quality of goods or services.
  • Suggesting that you may receive a different price or rate for goods or services or a different level or quality of goods or services.

However, the CCPA permits us to offer you certain financial incentives that can result in different prices, rates, or quality levels, which are related to your Personal Information’s value. We do not currently offer financial incentives in exchange for Personal Information we collect.

Submission of Requests for Information or to Delete. If you are a California resident, you may submit a request for information or a request to delete by:

Calling us at (844) 533-1258.

Emailing us at privacy@dycomind.com – please provide your name, telephone number, and type of request (that is, a request for categories of information, a request for specific pieces of information, and/or a request to delete).

To protect your privacy and security, we will also take reasonable steps to verify your identity before providing your Personal Information and before deleting your information. Only you or someone legally authorized to act on your behalf may make a verifiable request related to your Personal Information. If you want to authorize someone else to make a request on your behalf, please contact us at privacy@dycomind.com and provide your name, telephone number, the name of the person you want to authorize to make a request, and the type of request the person is authorized to make (that is, a request for categories of information, a request for specific pieces of information, and/or a request to delete). We will contact you if we need more information.

Responses to Requests. We do not charge a fee to respond to your request unless it is repetitive (more than twice in a 12-month period) or excessive. We generally will respond to your request within 45 days of its receipt. If we need more time to respond, we will inform you of the reason and we may take up to an additional 45 days to respond.

CONTACT US

If you have any questions or comments about this Privacy Statement, please contact us at:

Email:

privacy@dycomind.com

Mail:

Dycom Industries, Inc.
Attn: Privacy
11780 U.S. Highway 1, Suite 600
Palm Beach Gardens, FL 33408

Terms of Use

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Last Updated: Feb 18, 2021

The Dycom Industries, Inc. (“Dycom”) website (“Site”) comprises various web pages operated by Dycom. Please read the following terms (“Terms”) carefully before using the Site. The Site is offered to you conditioned on your acceptance of these Terms. By visiting the Site, you agree to be bound by these Terms.

Dycom reserves the right to modify the Terms at any time. Please look at the “Last Updated” legend at the top of this page to see when the Terms were last revised. Any changes to the Terms will become effective when we post the revised Terms on the Site. Visiting or using the Site following these changes means that you accept the revised Terms.

Privacy Statement

Please carefully review Dycom’s Privacy Statement click here, which is incorporated into these Terms. By using the Site, you expressly consent to the collection, use, and disclosure of your information as described in the Privacy Statement click here.

Ownership

All content on the Site, including, but not limited to, designs, text, graphics, pictures, video, information, applications, software, computer code, sound and other files, and their selection and arrangement (the “Site Content”), is the property of Dycom, its subsidiaries, or its licensors, who reserve all rights to the Site Content. The Site Content is protected by copyright, trademark, and other intellectual property laws and treaties.

You may not: (a) remove or modify any copyright or other proprietary notices contained on the Site Content, including on any copies you make of the Site Content; (b) cause, permit or authorize the modification, translation, reverse engineering, decompiling, reverse compiling, reverse assembling, disassembling or hacking of any code, applications or software on the Site; (c) use any data mining, robots, scraping, or similar data-gathering or extraction methods; (d) transmit any worms or viruses or any code of a destructive nature, including code that corrupts, disrupts, damages, or destroys data, software, or hardware; (e) provide, transfer, sell, lease, license, sublicense, distribute, disclose, or make available, or permit the use of the Site Content by a third party; or (f) upload, frame, sell, or republish Site Content on any Internet, intranet or extranet site or incorporate the information in any electronic database or compilation, without Dycom’s prior written permission.

Dycom owns the DYCOM trademark and other Dycom indicia of source used on the Site (the “Dycom Marks”). In addition, Dycom’s subsidiaries own their respective trademarks and service marks displayed on the Site (the “Dycom Subsidiary Marks”). You may not use the Dycom Marks, the Dycom Subsidiary Marks, or any third-party trademarks or service marks displayed on the Site (“Third-Party Marks”), in connection with any product or service, nor in any manner that is likely to cause confusion about whether Dycom, a subsidiary of Dycom or the applicable third party is affiliated with, or the source, sponsor, or endorser of, any product or service. In addition, you may not use the Dycom Marks, the Dycom Subsidiary Marks, or any Third-Party Marks in any manner that disparages or discredits Dycom, a Dycom subsidiary, or the applicable third party.

Links to Third-Party Websites

The Site may contain links to websites controlled by third parties and websites controlled by Dycom’s subsidiaries (collectively, “Other Sites”). If you decide to access Other Sites from the Site, you do so at your own risk. Dycom does not endorse or take responsibility for the content on Other Sites or the availability of Other Sites, and you agree that Dycom is not liable for any loss or damage that you may suffer by visiting or using Other Sites. You are responsible for reading and complying with the terms of use and, if applicable, privacy policies that govern your use of Other Sites.

Disclaimer

THE SITE IS DISTRIBUTED AND TRANSMITTED ON AN “AS IS” AND “AS AVAILABLE” BASIS, WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT OR FITNESS FOR A PARTICULAR PURPOSE. DYCOM MAKES NO WARRANTY THAT THE SITE WILL BE UNINTERRUPTED, TIMELY, SECURE, ACCURATE OR ERROR-FREE, THAT THE SITE OR DYCOM’S SERVER IS FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS, OR THAT THE SITE WILL BE AVAILABLE. YOUR USE OF THE SITE CONTENT, AND ANY RELIANCE UPON IT, IS AT YOUR SOLE RISK. CHANGES ARE PERIODICALLY MADE TO THE INFORMATION ON THE SITE. DYCOM MAY MAKE IMPROVEMENTS OR OTHER CHANGES TO THE SITE AT ANY TIME.

Limitation of Liability

YOU AGREE THAT, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, UNDER NO CIRCUMSTANCES ARE DYCOM, ITS AFFILIATES, OR ITS OR THEIR RESPECTIVE OFFICERS, MANAGERS, EMPLOYEES, AGENTS, LICENSORS OR REPRESENTATIVES LIABLE FOR ANY CONSEQUENTIAL, INDIRECT, INCIDENTAL, SPECIAL, OR PUNITIVE DAMAGES, LOSS OF BUSINESS REVENUE, PROFITS, OR DATA, WHETHER IN AN ACTION UNDER CONTRACT, NEGLIGENCE OR ANY OTHER THEORY, ARISING OUT OF OR RELATING TO YOUR USE OF OR INABILITY TO USE THE SITE, OR YOUR RELIANCE ON ANY ADVICE, INFORMATION, OR SITE CONTENT, EVEN IF DYCOM HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. YOU ALSO AGREE THAT DYCOM IS NOT LIABLE TO YOU OR ANY THIRD PARTY UNDER ANY THEORY FOR ANY LOSS OR DAMAGE TO (1) YOUR COMPUTER SYSTEM, HANDHELD DEVICE OR ANY OTHER STORAGE/PLAYBACK DEVICE USED BY YOU TO STORE OR DISPLAY THE SITE CONTENT OR (2) ANY DATA ON YOUR COMPUTER SYSTEM, HANDHELD DEVICE, OR ANY OTHER STORAGE/PLAYBACK DEVICE USED BY YOU TO STORE OR DISPLAY THE SITE CONTENT, AND YOU SHALL BE SOLELY RESPONSIBLE FOR ANY SUCH LOSS OR DAMAGE. YOU SPECIFICALLY ACKNOWLEDGE THAT DOWN-TIME, LOSS OF CONTENT, AND COMPUTER VIRUSES ARE RISKS INHERENT IN THE USE OF THE INTERNET AND SOFTWARE PRODUCTS, AND YOU AGREE TO ASSUME RESPONSIBILITY FOR ANY HARM OR DAMAGES OF ANY KIND OR CHARACTER WHATSOEVER RESULTING FROM THESE POSSIBLE HARMS. BECAUSE SOME STATES/JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, THE ABOVE LIMITATION MAY NOT APPLY TO YOU. IF YOU ARE DISSATISFIED WITH ANY PORTION OF THE SITE, OR WITH ANY OF THESE TERMS, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USING THE SITE.

Stock Information and Third-Party Resources

We provide certain information related to our stock, which may include, without limitation, stock quote, analyst coverage, and earnings estimates of third parties. This information may be provided by third parties and is for informational purposes only, and is not intended for trading purposes. If you are contemplating trading in Dycom securities, we advise you to seek independent professional advice before making any investment decisions. Dycom does not warrant or guarantee, and has not taken any steps to verify, the adequacy, timeliness, accuracy or completeness of the information or data provided, and under no circumstances will Dycom be liable for any inaccuracies or omissions in any such information or data, any delays or errors in the transmission thereof, or any loss or damages caused by reliance on such items. Dycom shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Forward-Looking Statements

The Site contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Words such as “outlook,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” “should,” “could,” “project,” and similar expressions, as well as statements in future tense, identify forward-looking statements. These forward-looking statements speak only as of the time they were made using various underlying assumptions and are subject to a numerous risks, contingencies and uncertainties. We disclaim any obligation to update these statements unless required by securities law. See Dycom’s most recent annual report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission for a more complete discussion.

General

No information contained in the Site constitutes or shall be deemed to constitute an offer to sell, or a solicitation of an offer to buy, any securities of Dycom.

These Terms, including the Privacy Statement, which is fully incorporated in it, are governed by and will be construed under the laws of the State of Florida, without giving effect to any principles of conflicts of laws.

You agree that no joint venture, partnership, employment, or agency relationship exists between you and Dycom as a result of these Terms or your use of the Site. These Terms and the Site are subject to existing laws and legal process, and nothing contained in these Terms is in derogation of Dycom’s right to comply with governmental, court and law enforcement requests or requirements relating to your use of the Site or information provided to or gathered by Dycom with respect to such use. If any part of these Terms is determined to be invalid or unenforceable pursuant to applicable law including, but not limited to, the warranty disclaimers and liability limitations set forth above, then the invalid or unenforceable provision will be deemed superseded by a valid, enforceable provision that most closely matches the intent of the original provision and the remainder of the Terms shall continue in effect.

Unless otherwise specified herein, these Terms, including the Privacy Statement, constitute the entire agreement between you and Dycom with respect to the Site and the Terms supersede all prior or contemporaneous communications and proposals, whether electronic, oral or written, between you and Dycom with respect to the Site. A printed version of these Terms and of any notice given in electronic form is admissible in judicial or administrative proceedings based upon or relating to these Terms to the same extent and subject to the same conditions as other business documents and records originally generated and maintained in printed form.

Contact Us

Please contact Dycom at info@dycomind.com with any questions or to report any violations of these Terms. We reserve the right to report violations and unauthorized use of the Site to appropriate authorities.