RTTNews | Aug 26, 2020 06:18AM EDT

06:18 Wednesday, August 26, 2020 (RTTNews.com) - While reporting financial results for the second quarter on Tuesday, Dycom Industries, Inc. (DY) anticipates contract revenues and margins for the third quarter to range from in-line to modestly lower on a sequential basis for the second quarter, based on current conditions.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.84 per share on revenues of $883.47 million for the quarter. Analysts' estimates typically exclude special items.

The company said it continues to closely monitor the impact of the COVID-19 pandemic on all aspects of its business. It believes the impact of the COVID-19 pandemic on its operating results, cash flows and financial condition is uncertain, unpredictable and may be outside of its control.

Separately, the company said its Board of Directors has authorized a new $100 million program to repurchase shares of Dycom's outstanding common stock, to be made over the next eighteen (18) months in open market purchases or privately-negotiated transactions, including pursuant to a Rule 10b5-1 plan.

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