The company also posted a 14% increase in Q3 revenue to $1.45 billion.
Dycom Industries, Inc. (DY), on Wednesday, signed an agreement to acquire Power Solutions for $1.95 billion. Following the acquisition, Power Solutions will continue to operate under its existing brand, with no changes to the management team.
Dycom said the acquisition expands its presence in the fast-growing, mission-critical data center market. The deal is expected to close before the end of the current fiscal year.
Separately, the company posted a 14% increase in contract revenue to $1.45 billion on Wednesday, while its GAAP earnings per share (EPS) rose 35.4% to $3.63.
The company raised the midpoint of its full-year revenue forecast and now expects fiscal 2026 contract revenues of $5.35 billion to $5.43 billion, representing 13.8% to 15.4% growth compared with the previous corresponding period.
The stock was up 6.6% in premarket.
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