Dycom Industries (DY) investor relations material

Leadership reflections and strategic focus

• Emphasis on building a durable enterprise and strong internal team culture, with over 16,000 employees contributing to growth and operational excellence.

• Focus on learning from small mistakes while ensuring major initiatives are executed thoughtfully and with a long-term perspective.

• Supportive board and collaborative learning environment cited as key to success.

Major acquisition and growth strategy

• Announced $2 billion acquisition of Power Solutions to diversify into internal electrical and data center markets, aligning with long-term strategic goals.

• Acquisition driven by cultural fit, skilled workforce, and strong data center presence in the DMV region.

• Integration expected to be smooth due to operational sophistication and shared values, with closing targeted by end of fiscal year.

• Power Solutions' union workforce and proactive talent pipeline support sustained mid-teens growth.

• Regional concentration in the DMV area seen as an opportunity due to market size and growth, with plans for organic expansion and future M&A.

Market opportunities and demand drivers

• Data center market in DMV represents 27% of U.S. capacity, projected to reach 30%, with double-digit growth expected even before AI impact.

• $20 billion market opportunity over five years identified for fiber network upgrades, with complexity and scale favoring established players.

• Fiber to the home remains a strong growth area, with several years of ramp ahead and a long-term view of 7–10 years to reach 125 million homes passed.

• BEAD program expected to generate $18–$20 billion in addressable market over five years, with significant infrastructure build and workforce needs.