Dycom Industries' stock soared 34.30% during intraday trading on Wednesday, following the release of its fiscal first-quarter 2027 results that significantly exceeded market expectations.

The specialty contractor reported contract revenues of $1.964 billion, a 56.1% year-over-year increase that beat analyst estimates of $1.67 billion by approximately 17.58%. Adjusted earnings per share came in at $4.42, far surpassing the consensus estimate of $2.72. The company also reported a 49.5% rise in net income to $91.3 million and a 74.6% increase in adjusted EBITDA to $262.5 million.

Additionally, Dycom raised its full-year fiscal 2027 contract revenue guidance to $7.38 billion-$7.65 billion, up from its previous forecast of $6.85 billion-$7.15 billion. The company also announced the acquisition of National Technology Integrators for $275 million, which expands its capabilities in the high-growth data center industry. CEO Dan Peyovich cited "robust demand for fiber infrastructure and data center builds" as key drivers behind the strong performance.