Advertisement
U.S. markets closed
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow 30

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Russell 2000

    2,124.55
    +10.20 (+0.48%)
     
  • Crude Oil

    83.11
    -0.06 (-0.07%)
     
  • Gold

    2,254.80
    +16.40 (+0.73%)
     
  • Silver

    25.10
    +0.18 (+0.74%)
     
  • EUR/USD

    1.0782
    -0.0012 (-0.11%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • dólar/libra

    1.2619
    -0.0003 (-0.03%)
     
  • USD/JPY

    151.3410
    -0.0310 (-0.02%)
     
  • Bitcoin USD

    69,760.93
    -824.01 (-1.17%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Nikkei 225

    40,369.44
    +201.37 (+0.50%)
     

Why Dycom Industries Stock Is Plummeting Today

Dycom Industries (NYSE:DY) stock was plummeting on Monday as investors received a warning from the company regarding its upcoming earnings and revenue figures.

Dycom Industries
Dycom Industries

The company’s shares had its biggest one-day selloff in 10 years as the specialty contracting services company lowered its profit and sales outlook ranges. The decision came as the company has experienced delays in some of its large-scale deployments from customers.

Dycom Industries now sees its earnings, adjusted to exclude non-recurring items, for its second quarter of fiscal 2018 to be in the range of $1.05 to $1.08 per share. The figure is significantly lower than the company’s previous guidance that was in the range of $1.13 to $1.28 per share.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

It is also below the Wall Street consensus estimate of $1.19 per share, according to data compiled by FactSet. Dycom Industries’ contract revenue forecast was also reduced to $799.5 million from the range of $830 million to $860 million.

For its fiscal 2018, the company also lowered its adjusted earnings guidance to $2.62 to $3.07 per share from $4.26 to $5.15 per share, while the FactSet guidance is at $2.70 per share. The revenue estimate is now down to be in the range of $3.01 billion to $3.11 billion from $3.23 billion to $3.43 billion.

Analysts see the company’s full-year revenue to be around $3.34 billion in the median outlook, per FactSet.

DY stock was down about 24.1% during regular trading hours Monday.

More From InvestorPlace

Compare Brokers

The post Why Dycom Industries Stock Is Plummeting Today appeared first on InvestorPlace.

Advertisement