Dycom Industries, Inc. (NYSE:DY) Q1 2025 Results Conference Call May 22, 2024 9:00 AM ET
Company Participants
Steven Nielsen - President and Chief Executive Officer
Ryan Urness - General Counsel
Drew DeFerrari - Chief Financial Officer
Conference Call Participants
Alex Rygiel - B. Riley Securities
Adam Thalhimer - Thompson, Davis
Sangita Jain - KeyBanc Capital Markets
Alex Waters - BofA
Steven Fisher - UBS
Brent Thielman - D.A. Davidson
Eric Luebchow - Wells Fargo
Christian Schwab - Craig Hallum Capital Group
Alan Mitrani - Sylvan Lake Asset Management
Operator
Good day, and thank you for standing by. Welcome to Dycom Industries First quarter Fiscal 2025 Results Conference Call. [Operator Instructions] Again, please be advised that today's conference is being recorded.
I would now like to hand the conference over to your host today, Mr. Steven Nielsen, President and Chief Executive Officer, please go ahead, sir.
Steven Nielsen
Thank you, operator. Good morning everyone. Thank you for attending this conference call to review our first quarter fiscal 2025 results. Going to Slide 2. During this call, we will be referring to a slide presentation which can be found on our website's Investor center main page. Relevant slides will be identified by number throughout our presentation.
Today, we have on the call Drew DeFerrari, our Chief Financial Officer; and Ryan Urness, our General Counsel. Now I will turn over the call to Ryan Urness.
Ryan Urness
Thank you, Steve. All forward-looking statements made during this conference call are provided pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all comments reflecting our expectations, assumptions or beliefs about future events. These forward-looking statements are subject to risks and uncertainties, which may cause actual results to differ materially from current projections, including those risks discussed in the company's filings with the U.S. Securities and Exchange Commission.
Forward-looking statements are made solely as of the original broadcast date of this conference call, and we assume no obligation to update any forward-looking statements. Steve?
Steven Nielsen
Thanks, Ryan. Now moving to slide four in a review of our first quarter results. As we review our results, please note that in our comments today and in the accompanying slides, we reference certain non-GAAP measures. We refer you to Slides 14 through 19 for a reconciliation of these non-GAAP measures to their corresponding GAAP measures.
Now for the quarter. Revenue increased year over year to $1.142 billion an increase of 9.3%, organic revenue increased 2.5%. As we deployed gigabit wireline networks, wireless wireline converged networks and wireless networks, this quarter reflected an increase in demand from two of our top five customers. Gross margin was 19.3% of revenue an increased 95 basis points compared to the first quarter of fiscal 2024. General and administrative expenses were 8.3% of revenue and all of these factors produced adjusted EBITDA of $130.9 million or 11.5% of revenue and earnings per share of $2.12.