Dycom Industries, Inc. is a specialty contracting company based in the United States that provides engineering, construction, and maintenance services to the telecommunications and utility industries. The company focuses on the deployment of fiber optic, copper, and coaxial cable networks, as well as wireless infrastructure. Recently, Dycom expanded into the data center infrastructure market through its acquisition of Power Solutions, adding a Building Systems segment to its core operations.
Dycom's customer base is highly concentrated. In fiscal 2026 (year ended January 31, 2026) it derived approximately 25.4% of total contract revenues from AT&T Inc., 14.0% from Verizon Communications, Inc. (including revenue attributable to Frontier Communications, acquired by Verizon on January 20, 2026, retrospectively for all periods), and 10.8% from Lumen Technologies Inc. Together these three customers accounted for roughly 50% of revenue, and the company expects a substantial portion of revenues and operating income to continue to come from a concentrated group of customers, whose identity and proportion will fluctuate. Dycom is also expanding with highly concentrated hyperscaler and data-center customers following its acquisition of Power Solutions, LLC. (On February 2, 2026, after fiscal 2026, AT&T completed its acquisition of substantially all of Lumen's mass-markets fiber business.)