Dycom Industries, Inc. (DY) said it now expects fourth quarter earnings to be in the range of $0.79 to$0.87 per share and revenue between $560 million and $570 million. Analysts currently expect fourth quarter earnings of $0.78 per share on revenue of $562.28 million.
Earlier, the company had expected earnings to be in the range of $0.74 to $0.82 per share and revenue of $550 million to $570 million.
Separately, the company announced that its Board of Directors has authorized an additional $40 million to repurchase shares of Dycom's outstanding common stock. The stock repurchases are authorized to be made over the next eighteen months in open market or private transactions, including through accelerated share repurchase agreements with one or more counterparties from time to time.
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