Dycom Industries Inc. (NYSE:DY) Q1 2021 Earnings Conference Call - Final Transcript

May 19, 2020 • 09:00 am ET

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Dycom Industries Inc. (NYSE:DY) Q1 2021 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by, welcome to the Dycom Results Conference Call. [Operator Instructions] Later, we will conduct a question-and-answer session and I will give you instructions at that time. [Operator Instructions]

I would now like to turn the conference over to our host, President and Chief Executive Officer, Steven Nielsen. Please go ahead, sir.

Executive
Steven E. Nielsen

Thank you, Tammy. Good morning, everyone. I'd like to thank you for attending this conference call to review our first quarter fiscal 2021 results.

Going to Slide 2, during this call we will be referring to a slide presentation, which can be found on our website's Investor Center main page, relevant slides will be identified by number throughout our presentation. Today we have on the call, Drew DeFerrari, our Chief Financial Officer and Ryan Urness, our General Counsel.

Now, I will turn the call over to Ryan Urness.

Executive
Ryan F. Urness

Thank you, Steve. The statements made during this call may be forward-looking in nature and are provided pursuant to the safe harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include all comments reflecting our expectations, assumptions or beliefs about future events or performance that do not relate solely to historical periods. Forward-looking statements are subject to risks and uncertainties, which may cause actual results to differ materially from our current projection, including those risks described in our Annual Report on Form 10-K filed March 2nd, 2020 and our other filings with the US Securities and Exchange Commission. We assume no obligation to update any forward-looking statements.

Steve?

Executive
Steven E. Nielsen

Thanks, Ryan. As we refer to our results, please note that organic revenue was a non-GAAP measure that excludes revenues from storm restoration services. In our comments today and in the accompanying slides we reference this and other non-GAAP measures. We refer you to the quarterly report section of our website for a reconciliation of these non-GAAP measures to their corresponding GAAP measures.

To begin, I want to express my sincere hope that everyone listening to this call, as well as their families are healthy and safe. We are living in truly unprecedented time for our country and our world. During my 21 years as Dycom CEO, I've never witnessed anything like the dislocation we are experiencing as a country. The impacts of 9/11 the dot come crash and the great financial recession pale in comparison to the speed and severity of the effects the COVID-19 pandemic is having on society and the nation's economy.

Dycom first tangibly experienced the pandemics effects in our business during the week of March 15th. Unlike calendar quarter reporting companies almost half of our first quarter occurred after the pandemic became a reality. As Dycom came to grips with the pandemic, our people demonstrated real fortitude as we made daily changes to the business. I could not be prouder of our employees, field technician served our customers 24/7 helping grow network capacity and maintaining networks whose functioning has never been more necessary for daily life. They