Why Dycom Stock Got Crushed Today

Shares of Dycom (NYSE: DY) have gotten crushed today, closing down by 16%, after the company reported fiscal third-quarter earnings. The contracting specialist narrowly beat profit expectations but missed on revenue.

Revenue in the fiscal third quarter came in at $810.3 million, which was below the consensus estimate of $817.7 million. That resulted in adjusted net income of $34.4 million, or $1.06 per share. Wall Street analysts were modeling for $1.05 per share in adjusted profits. Adjusted EBITDA was $92.8 million.

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Source Fool.com