← Dycom Industries overview

Dycom Industries vs MasTec: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Dycom Industries Inc (DY)

Q3 2026
▲2▼2

Dycom's record backlog and revenue offset by margin drop and backlog miss

  • Blowout Q1 earnings and raised guidance Dycom reported blowout Q1 earnings, raised its full-year guidance, and announced a record $11.9 billion backlog. Analysts upgraded the stock, and the company acquired a firm for $275 million to expand data center capabilities.

    This point highlights the strong positive drivers that boosted investor confidence during the period.

  • Record Q2 revenue and new buyback In Q2, Dycom achieved record revenue of $2.01 billion, raised its full-year outlook, and announced a new $150 million share buyback program. The company also added new board members.

    This point shows continued positive momentum in revenue and shareholder returns.

  • Margin decline triggers stock plunge Communications segment margin fell to 13.6% from 14.9%, causing a 21.6% stock plunge and analyst target cuts. This margin pressure raised concerns about profitability.

    This point explains the major negative event that drove the stock down sharply.

  • Backlog miss raises growth doubts Although backlog reached a record $12.24 billion, it missed the estimated $13.43 billion, raising doubts about future growth. This miss contributed to negative sentiment.

    This point highlights a key negative factor that offset positive developments.

August 2026
▲2▼2

Dycom's record Q2 revenue overshadowed by margin drop and backlog miss

  • Record Q2 revenue and raised full-year outlook Dycom reported record Q2 revenue of $2.01 billion, up 45.6% year over year, and raised its full-year revenue outlook to $7.48–$7.66 billion. Adjusted EBITDA and EPS beat the high end of guidance, showing strong demand for its telecom infrastructure services.

    This is the core positive fundamental result that supports the stock's long-term value.

  • Communications segment margin fell, triggering sharp sell-off The communications segment's adjusted EBITDA margin dropped to 13.6% from 14.9% a year earlier due to investments, deferred wireless projects, and higher fuel costs. This margin concern caused the stock to plunge 21.6% and led analysts to cut price targets.

    This is the main negative force that drove the stock down sharply after earnings.

  • Backlog missed expectations despite record level Dycom's total backlog reached a record $12.24 billion, but this was below the estimated $13.43 billion. The shortfall raised doubts about the pace of future revenue growth, adding to the negative sentiment after the earnings report.

    The backlog miss is a key reason investors worried about future growth, contributing to the stock's decline.

  • New $150 million buyback and board additions Dycom authorized a new $150 million stock repurchase program and appointed two experienced CFOs to its board. These moves signal confidence in the company's financial strength and aim to enhance shareholder value and strategic oversight.

    These capital actions and governance changes are positive signals that can support the stock price.

Latest
▲2▼2

Dycom's record Q2 revenue overshadowed by margin drop and backlog miss

  • Record Q2 revenue and raised full-year outlook Dycom reported record Q2 revenue of $2.01 billion, up 45.6% year over year, and raised its full-year revenue outlook to $7.48–$7.66 billion. Adjusted EBITDA and EPS beat the high end of guidance, showing strong demand for its telecom infrastructure services.

    This is the core positive fundamental result that supports the stock's long-term value.

  • Communications segment margin fell, triggering sharp sell-off The communications segment's adjusted EBITDA margin dropped to 13.6% from 14.9% a year earlier due to investments, deferred wireless projects, and higher fuel costs. This margin concern caused the stock to plunge 21.6% and led analysts to cut price targets.

    This is the main negative force that drove the stock down sharply after earnings.

  • Backlog missed expectations despite record level Dycom's total backlog reached a record $12.24 billion, but this was below the estimated $13.43 billion. The shortfall raised doubts about the pace of future revenue growth, adding to the negative sentiment after the earnings report.

    The backlog miss is a key reason investors worried about future growth, contributing to the stock's decline.

  • New $150 million buyback and board additions Dycom authorized a new $150 million stock repurchase program and appointed two experienced CFOs to its board. These moves signal confidence in the company's financial strength and aim to enhance shareholder value and strategic oversight.

    These capital actions and governance changes are positive signals that can support the stock price.

July 2026
▲4

Dycom's record backlog and raised guidance fuel its rally

  • Blowout Q1 earnings and raised guidance Dycom reported Q1 EPS of $4.42, beating estimates by 62%, and revenue of $1.96 billion, up 56% year over year. Management raised full-year revenue guidance to $7.38–$7.65 billion, implying growth of 33–38%. This strong performance and optimistic outlook are the main reasons the stock has moved higher.

    This is the core new event that directly caused the stock to rise.

  • Record backlog signals future growth Total backlog hit a record $11.9 billion, up 46.5% from a year ago, with a book-to-bill ratio of 2.2x. This means Dycom has more work lined up than it can complete in the near term, driven by fiber-to-the-home and data center projects. A growing backlog gives investors confidence in future revenue.

    Backlog is a key forward-looking indicator that supports the bullish case.

  • Analyst upgrade and sector tailwinds KeyBanc raised its price target to $610 from $482, citing strong results and fiber market strength. Zacks highlighted Dycom as a top heavy construction pick, driven by AI infrastructure and data center investments. These endorsements can attract more buyers and push the stock higher.

    Analyst actions and sector recognition influence investor sentiment and demand for the stock.

  • Acquisition expands data center capabilities Dycom agreed to acquire National Technology Integrators for $275 million to enhance its data center cabling and integration services. This move positions Dycom to capture more of the growing data center market, potentially adding new revenue streams and supporting long-term growth.

    The acquisition is a strategic expansion that could drive future earnings and justifies the stock's momentum.

▲4

Dycom's record backlog and raised guidance fuel its rally

  • Blowout Q1 earnings and raised guidance Dycom reported Q1 EPS of $4.42, beating estimates by 62%, and revenue of $1.96 billion, up 56% year over year. Management raised full-year revenue guidance to $7.38–$7.65 billion, implying growth of 33–38%. This strong performance and optimistic outlook are the main reasons the stock has moved higher.

    This is the core new event that directly caused the stock to rise.

  • Record backlog signals future growth Total backlog hit a record $11.9 billion, up 46.5% from a year ago, with a book-to-bill ratio of 2.2x. This means Dycom has more work lined up than it can complete in the near term, driven by fiber-to-the-home and data center projects. A growing backlog gives investors confidence in future revenue.

    Backlog is a key forward-looking indicator that supports the bullish case.

  • Analyst upgrade and sector tailwinds KeyBanc raised its price target to $610 from $482, citing strong results and fiber market strength. Zacks highlighted Dycom as a top heavy construction pick, driven by AI infrastructure and data center investments. These endorsements can attract more buyers and push the stock higher.

    Analyst actions and sector recognition influence investor sentiment and demand for the stock.

  • Acquisition expands data center capabilities Dycom agreed to acquire National Technology Integrators for $275 million to enhance its data center cabling and integration services. This move positions Dycom to capture more of the growing data center market, potentially adding new revenue streams and supporting long-term growth.

    The acquisition is a strategic expansion that could drive future earnings and justifies the stock's momentum.

MasTec Inc (MTZ)

Q3 2026
▲2▼1

MasTec's record backlog and raised guidance offset by weak Q2 outlook

  • Record backlog and raised 2026 guidance MasTec reported a record $21.4 billion backlog, up 30% from a year ago, and raised its 2026 revenue and profit outlook to $18.2 billion and $9.30 per share. Strong demand for power grid upgrades and data center connections is driving the business.

    This shows the core growth story that supports the stock.

  • Power Delivery segment surges on utility and data-center demand MasTec's Power Delivery segment grew 19.2%, fueled by utility and data-center demand. This segment is a key part of the company's infrastructure services and reflects the ongoing need for electrical grid upgrades and connections.

    It highlights a specific business segment that is performing well and driving overall growth.

  • Q2 earnings miss and guidance below expectations MasTec's Q2 adjusted earnings per share of $2.22 missed by a cent, and the company's guidance came in below analyst projections. The stock fell 17.7% on the weaker outlook, and some analysts cut price targets citing execution risk and weakness in the Communications segment.

    This explains the main negative force that pulled the stock down during the period.

  • Superior Group acquisition adds data-center exposure but integration risk MasTec completed the acquisition of The Superior Group, adding data-center electrical work. While this expands MasTec's presence in a growing market, it also brings integration risk, and the bull case now depends on converting backlog and consistent execution.

    It shows a strategic move that has both positive and negative implications for the stock.

August 2026
▲2▼1

MasTec's record backlog and raised guidance offset by weak Q2 outlook

  • Record backlog and raised 2026 guidance MasTec reported a record $21.4 billion backlog, up 30% from a year ago, and raised its 2026 revenue and profit outlook to $18.2 billion and $9.30 per share. Strong demand for power grid upgrades and data center connections is driving the business.

    This shows the core growth story that supports the stock.

  • Power Delivery segment surges on utility and data-center demand MasTec's Power Delivery segment grew 19.2%, fueled by utility and data-center demand. This segment is a key part of the company's infrastructure services and reflects the ongoing need for electrical grid upgrades and connections.

    It highlights a specific business segment that is performing well and driving overall growth.

  • Q2 earnings miss and guidance below expectations MasTec's Q2 adjusted earnings per share of $2.22 missed by a cent, and the company's guidance came in below analyst projections. The stock fell 17.7% on the weaker outlook, and some analysts cut price targets citing execution risk and weakness in the Communications segment.

    This explains the main negative force that pulled the stock down during the period.

  • Superior Group acquisition adds data-center exposure but integration risk MasTec completed the acquisition of The Superior Group, adding data-center electrical work. While this expands MasTec's presence in a growing market, it also brings integration risk, and the bull case now depends on converting backlog and consistent execution.

    It shows a strategic move that has both positive and negative implications for the stock.

Latest
▲4

MasTec's Record Backlog and Raised Outlook Drive Growth Story

  • Record Backlog and Raised 2026 Outlook MasTec reported record Q2 revenue of $4.4B, up 23%, with adjusted EPS up 49% to $2.22. The 18-month backlog hit a record $21.4B, up nearly $5B year-over-year, driven by data centers, power generation, and digital connectivity. Management raised its 2026 outlook to $18.2B revenue and $9.30 EPS, signaling strong future growth.

    This is the core positive driver: record backlog and raised guidance directly boost investor confidence and future earnings visibility.

  • Power Delivery Segment Surges on Utility Demand MasTec's Power Delivery segment revenue jumped 19.2% to $1.25B, with EBITDA up 23.7% and margin improving to 9.1%. Backlog rose to $6.35B from $5.06B a year earlier, as utilities increase spending on transmission, grid hardening, and reliability amid rising power demand and data center development.

    This shows a key segment benefiting from secular trends, supporting revenue and margin growth.

  • Q2 Earnings Beat and Four-Quarter Streak MasTec beat Q2 earnings and revenue estimates, with EPS of $2.22 vs. $2.19 expected and revenue of $4.37B vs. $4.30B expected. This marks the fourth consecutive quarter of surpassing consensus, demonstrating consistent execution and strengthening investor confidence.

    Earnings beats are a direct positive catalyst, showing the company is performing better than expected.

  • Completed $648M Senior Notes Offering for Flexibility MasTec completed a $647.764 million offering of 5.850% senior notes due 2036. The proceeds add financial flexibility to fund its backlog and manage capital needs, supporting the company's ability to execute on its growth plans without straining near-term liquidity.

    This capital raise provides funding for growth initiatives, a positive for executing on the backlog.

▲3▼1

MasTec's record backlog and data-center demand offset weak guidance

  • Q2 earnings miss and soft guidance MasTec's Q2 revenue beat but adjusted EPS of $2.22 missed by a cent, and full-year guidance midpoint of $9.30 came in below analyst projections. The stock fell 17.7% as investors focused on the weaker outlook rather than the sales growth.

    This is the main negative force this period, explaining the sharp sell-off and near-term pressure on MTZ shares.

  • Record $21.4B backlog boosts visibility MasTec ended Q2 with a record $21.4 billion backlog, up 30% year over year, with strong growth in Power Delivery, Clean Energy, and Pipeline. This large pipeline of future work gives investors confidence in long-term revenue and supports the stock.

    It shows the underlying demand strength that counters the weak guidance and is a key reason analysts remain positive.

  • Analyst fair value raised on Superior Group deal A fair value estimate rose from about $349 to $427 after updated guidance and the Superior Group acquisition, which adds power delivery and data-center exposure. Several analysts raised targets, though some cut targets on execution risk and Communications weakness.

    It reflects the market's reassessment of MTZ's value after the acquisition and guidance, a major driver of price direction.

  • Data-center and industrial demand tailwinds Citi sees accelerating U.S. industrial growth and strong data-center investment, naming MasTec as a long-term opportunity. This macro trend boosts demand for MasTec's infrastructure services, supporting future revenue and profits.

    It highlights the broader demand environment that underpins MasTec's growth story and investor optimism.

Q2 2026
▲3

MasTec raises outlook, buys Superior to expand data center work

  • Record backlog and raised 2026 guidance MasTec raised its 2026 revenue and profit outlook after reporting a record $20.3 billion backlog, up 28% from a year ago. Strong demand for power grid upgrades and data center connections is driving the business, which supports a higher stock price.

    This is the core fundamental driver behind the stock's move and the basis for the bullish outlook.

  • Acquisition of The Superior Group for $1.65 billion MasTec agreed to buy electrical contractor The Superior Group for about $1.65 billion in cash and stock. The deal adds data center electrical work and is expected to immediately boost revenue, profit, and cash flow, pushing the stock up.

    This is a major new event that expands MasTec's data center capabilities and is expected to be immediately accretive.

  • Analyst reaffirms Buy and highlights AI infrastructure demand Baird reaffirmed a Buy rating with a $473 price target, and Zacks named MasTec a top heavy construction pick, citing AI and data center investments. These endorsements boost investor confidence and can lift the stock.

    Analyst and industry recognition reinforce the positive demand narrative and influence investor sentiment.

  • Premium valuation and mixed peer results MasTec trades at a high forward P/E of 35.6, above peers, reflecting strong growth but also raising the risk of a pullback. In Q1, revenue beat estimates but guidance was the weakest among peers, and shares fell 3.5% at the time.

    This provides a balanced view, noting the premium valuation and relative guidance weakness as a counterweight.

June 2026
▲3

MasTec raises outlook, buys Superior to expand data center work

  • Record backlog and raised 2026 guidance MasTec raised its 2026 revenue and profit outlook after reporting a record $20.3 billion backlog, up 28% from a year ago. Strong demand for power grid upgrades and data center connections is driving the business, which supports a higher stock price.

    This is the core fundamental driver behind the stock's move and the basis for the bullish outlook.

  • Acquisition of The Superior Group for $1.65 billion MasTec agreed to buy electrical contractor The Superior Group for about $1.65 billion in cash and stock. The deal adds data center electrical work and is expected to immediately boost revenue, profit, and cash flow, pushing the stock up.

    This is a major new event that expands MasTec's data center capabilities and is expected to be immediately accretive.

  • Analyst reaffirms Buy and highlights AI infrastructure demand Baird reaffirmed a Buy rating with a $473 price target, and Zacks named MasTec a top heavy construction pick, citing AI and data center investments. These endorsements boost investor confidence and can lift the stock.

    Analyst and industry recognition reinforce the positive demand narrative and influence investor sentiment.

  • Premium valuation and mixed peer results MasTec trades at a high forward P/E of 35.6, above peers, reflecting strong growth but also raising the risk of a pullback. In Q1, revenue beat estimates but guidance was the weakest among peers, and shares fell 3.5% at the time.

    This provides a balanced view, noting the premium valuation and relative guidance weakness as a counterweight.

▲3

MasTec raises outlook, buys Superior to expand data center work

  • Record backlog and raised 2026 guidance MasTec raised its 2026 revenue and profit outlook after reporting a record $20.3 billion backlog, up 28% from a year ago. Strong demand for power grid upgrades and data center connections is driving the business, which supports a higher stock price.

    This is the core fundamental driver behind the stock's move and the basis for the bullish outlook.

  • Acquisition of The Superior Group for $1.65 billion MasTec agreed to buy electrical contractor The Superior Group for about $1.65 billion in cash and stock. The deal adds data center electrical work and is expected to immediately boost revenue, profit, and cash flow, pushing the stock up.

    This is a major new event that expands MasTec's data center capabilities and is expected to be immediately accretive.

  • Analyst reaffirms Buy and highlights AI infrastructure demand Baird reaffirmed a Buy rating with a $473 price target, and Zacks named MasTec a top heavy construction pick, citing AI and data center investments. These endorsements boost investor confidence and can lift the stock.

    Analyst and industry recognition reinforce the positive demand narrative and influence investor sentiment.

  • Premium valuation and mixed peer results MasTec trades at a high forward P/E of 35.6, above peers, reflecting strong growth but also raising the risk of a pullback. In Q1, revenue beat estimates but guidance was the weakest among peers, and shares fell 3.5% at the time.

    This provides a balanced view, noting the premium valuation and relative guidance weakness as a counterweight.