Dycom Industries reported adjusted earnings of $5.29 per share and contract revenue of $2.01 billion, up 45.6% year over year and above the $4.72 and $1.98 billion estimates, respectively. Organic revenue rose 16.7%, while adjusted EBITDA increased 53.5% to $315.5 million and its margin expanded 81 basis points to 15.7%. New awards lifted backlog to a record $12.2 billion, including more than $1 billion of long-haul, middle-mile and defense fiber projects. Dycom raised its fiscal 2027 revenue forecast to $7.48 billion-$7.66 billion from $7.38 billion-$7.65 billion, but its third-quarter adjusted EPS guidance midpoint of $4.56 fell below the $4.79 estimate. Shares were down 11.07% at $312.85 at the time of publication. The company also approved a new $150 million share-repurchase authorization through February 2028 and said it plans to open a flagship training facility in Georgia during the first half of 2027.