Why Dycom Industries Shares Are Gaining Today
Portfolio Pulse from Lekha Gupta
Dycom Industries reported Q1 FY24 contract revenue growth of 19.3% Y/Y to $1.05 billion, beating consensus of $939.2 million. EPS improved to $1.73 from $0.65 a year ago, beating consensus of $0.70. The company also repurchased shares worth $20.3 million in Q1 2023.
May 24, 2023 | 1:53 pm
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POSITIVE IMPACT
Dycom Industries' Q1 FY24 results exceeded expectations, with revenue growth of 19.3% Y/Y and EPS of $1.73. The company also repurchased $20.3 million worth of shares in Q1 2023.
Dycom Industries reported strong Q1 FY24 results, with revenue and EPS both beating estimates. This positive news is likely to boost investor confidence and drive the stock price up in the short term. Additionally, the company's share repurchase program demonstrates its commitment to returning value to shareholders, further supporting the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100