Why Dycom Industries Stock Is Tanking Today
Shares of Dycom Industries (NYSE: DY) had tumbled more than 21% by 10:45 a.m. EST on Wednesday. Weighing on the specialty contracting services provider were its fourth-quarter results and outlook for what's ahead.
Dycom Industries recorded $737.6 million of contract revenue during its fiscal fourth quarter, down from $748.6 million in the year-ago period. However, revenue did come in $12.1 million ahead of analysts' expectations and grew 1.3% year over year after excluding $20.4 million of storm restoration services in the year-ago period.
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Source Fool.com
