Why Dycom Industries Stock Just Dropped 22%
Source: finance.yahoo.com
Monday, Aug 13, 2018 12:16 by InvestingPie

What happened

Three months ago, shares of telecommunications infrastructure builder Dycom Industries (NYSE: DY) after the company's quarterly report disappointed investors. Three months later, Dycom stock is self-destructing before earnings have even come out.

Dycom had previously guided investors to expect it would earn between $1.02 and $1.17 per share on sales of $830 million to $860 million in Q2. This morning, management released an earnings warning confirming that profits will probably range from $1.05 to $1.08 per share on sales of just under $800 million.

These results will obviously miss expectations, and investors are responding by bidding Dycom shares down 22% as of 11:10 a.m. EDT.

Investors are pulling the plug on Dycom stock today. Image source: Getty Images.

So what

Taken at their midpoints, Dycom's new projections imply sales will come in about 5% weaker than previously predicted, and profits will be about 3

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Very informative
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