Dycom Industries Loses a Third of Its Value Following Weak Guidance

▤ Summary

Specialty contracting services provider Dycom Industries (DY) - Get Report was tanking 29.8% Wednesday to $43.50 after the company released its fourth-quarter results and provided first-quarter earnings guidance that fell well short of expectations. The company reported earnings of 10 cents per share on revenue of $749 million. Analysts were expecting the company to report earnings of 15 cents on revenue of $721 million. Dycom said that it expects first-quarter revenue to range between $750 million and $800 million with adjusted earnings between 34 cents and 56 cents per share. Wall Street is expecting the company to report first-quarter revenue of $790 million on earnings of 77 cents per share.

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