Dycom Industries Inc.’s (NYSE:DY) shares fell 3% in pre-market trading on Monday after the specialty contractor warned that its second-quarter earnings would fall short of previous guidance.
The NYSE-listed firm said that after bad weather reduced the number of available working days and hurt margins and productivity, it now expects quarterly adjusted earnings per share to range from 9 US cents to 12 US cents, below previous guidance.
2019 revenue, adjusted EPS guidance
The group also said its second-quarter revenue is expected to be at about US$655mln below the midpoint of its previous guidance.
For fiscal 2019, Dycom is expecting revenue of US$3.30bn to US$3.50bn and adjusted EPS of US$5.22 to US$6.14, compared to consensus for US$3.29bn and US$5.02 respectively.
The company said it will report second-quarter earnings on February 28.
In pre-market New York trading, Dycom shares were 3.2% lower at US$107.60.
