Aurora converts grass in city parks to drought-friendly type
The City of Aurora is changing out Kentucky Blue Grass with native grass and Bermuda Grass in city parks.
CBS
Sunday was the perfect day for a soccer tournament at Aurora's Olympic Park. The pitch was perfect and green, despite the hot weather.
"This particular grass is used in NFL stadiums and Major League Baseball stadiums, and collegiate stadiums. So, we see that the playability is there," said Erik Ostlund, the Manager of Park Operations for Aurora Parks Recreation and Open Space.
This isn't your typical Kentucky Blue Grass you see on most playing fields around town. It's Bermuda Grass. But Aurora Parks Recreation and Open Space didn't install it for the many games that are played here year-round.
This is part of the water-wise program undertaken by the city to save water. They have replaced 11.5 acres of Kentucky Blue Grass with native grass and Bermuda Grass at Olympic Park, and over the last two-and-a-half years, they've converted a total of about 87 acres of turf grass citywide.
Ostlund says the move has not only saved more than one million gallons annually of water but also money.
Kentucky Blue Grass is being switched out with native grass and Bermuda Grass at Aurora's city parks.
CBS
"We spend approximately $4 million annually on our water. So, the savings from an expense standpoint, the citizens will recognize that it's a multi-pronged benefit," said Ostlund.
That's because Bermuda grass and native grasses are more drought-tolerant and cold-hardy than Kentucky Blue Grass. But for these athletes, the only thing that matters is how the grass plays, and they say they like it.
"Yeah, it's better. It's not as thick. The ball moves smoothly," said players on the Solitos soccer team.
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Third Quarter Fiscal 2026 Outlook For the quarter ending October 25, 2025, the Company expects the following: Contract revenues $1.38 billion to $1.43 billion Non-GAAP Adjusted EBITDA $198 million to $213 million Diluted Earnings per Common Share $3.03 to $3.36 For additional information regarding the Company's outlook, please see the presentation materials available on the Company's website posted in connection with the conference call discussed below. Use of Non-GAAP Financial Measures The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). In the Company's quarterly results releases, slide presentations, conference calls, and webcasts, it may use or discuss Non-GAAP financial measures, as defined by Regulation G of the Securities and Exchange Commission. See Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures in the press release tables that follow. Conference Call Information and Other Selected Data The Company will host a conference call to discuss fiscal 2026 second quarter results on Wednesday, August 20, 2025 at 9:00 a.m. ET. Interested parties may participate in the question and answer session of the conference call by registering at Upon registration, participants will receive a dial-in number and unique PIN to access the call. Participants are encouraged to join approximately ten minutes prior to the scheduled start time. For all other attendees, a live listen-only audio webcast of the call, including an accompanying slide presentation, can be accessed directly at A replay of the live webcast and the related materials will be available on the Company's Investor Center website at for approximately 120 days following the event. About Dycom Industries, Inc. Dycom is a leading provider of specialty contracting services to the telecommunications infrastructure and utility industries throughout the United States. These services include program management, planning, engineering and design; aerial, underground, and wireless construction; maintenance; and fulfillment services for telecommunications providers. Additionally, Dycom provides underground facility locating services for various utilities, including telecommunications providers, as well as other construction and maintenance services for electric and gas utilities. Forward Looking Information This press release contains forward-looking statements within the meaning of the 1995 Private Securities Litigation Reform Act. These forward-looking statements include those related to the Company's current assumptions regarding future business and financial performance, including, but not limited to, those statements found under the 'Outlook' section of this press release. Forward-looking statements are based on management's expectations, estimates and projections, are made solely as of the date these statements are made, and are subject to both known and unknown risks and uncertainties that may cause the actual results and occurrences discussed in these forward-looking statements to differ materially from those referenced or implied in the forward-looking statements contained in this press release. The most significant of these known risks and uncertainties are described in the Company's Form 10-K, Form 10-Q, and Form 8-K reports (including all amendments to those reports) and include future economic conditions and trends including the potential impacts of an inflationary economic environment, changes in government policies and laws affecting our business, including related to funding for infrastructure projects and tariff policies or changes to tax laws, changes to customer capital budgets and spending priorities, the availability and cost of materials, equipment and labor necessary to perform our work, the adequacy of the Company's insurance and other reserves and allowances for credit losses, whether the carrying value of the Company's assets may be impaired, the future impact of any acquisitions or dispositions, adjustments and cancellations of the Company's projects, the impact to the Company's backlog from project cancellations or postponements, the impacts of pandemics and public health emergencies, the impact of varying climate and weather conditions, the anticipated outcome of other contingent events, including litigation or regulatory actions involving the Company, potential liabilities or other adverse effects arising from occupational health, safety, and other regulatory matters, the adequacy of our liquidity, the availability of financing to address our financials needs, the Company's ability to generate sufficient cash to service its indebtedness, the impact of restrictions imposed by the Company's credit agreement, and other risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update its forward-looking statements. For more information, contact:Callie Tomasso, Vice President Investor RelationsEmail: investorrelations@ (561) 627-7171 ---Tables Follow--- DYCOM INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands) Unaudited July 26,2025 January 25,2025 ASSETS Current assets: Cash and equivalents $ 28,460 $ 92,670 Accounts receivable, net 1,587,961 1,373,738 Contract assets 119,655 63,375 Inventories 122,560 127,255 Income tax receivable 35,838 2,963 Other current assets 44,448 34,629 Total current assets 1,938,922 1,694,630 Property and equipment, net 564,678 541,921 Operating lease right-of-use assets 112,128 112,151 Goodwill and other intangible assets, net 528,484 550,076 Other assets 75,712 46,589 Total assets $ 3,219,924 $ 2,945,367 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 264,908 $ 223,490 Current portion of debt 20,000 10,000 Contract liabilities 69,897 73,548 Accrued insurance claims 46,345 46,686 Operating lease liabilities 39,217 35,823 Income taxes payable — 30,636 Other accrued liabilities 172,335 166,970 Total current liabilities 612,702 587,153 Long-term debt 1,009,058 933,212 Accrued insurance claims - non-current 54,602 49,836 Operating lease liabilities - non-current 78,575 76,928 Deferred tax liabilities, net - non-current 67,678 32,172 Other liabilities 27,578 26,969 Total liabilities 1,850,193 1,706,270 Total stockholders' equity 1,369,731 1,239,097 Total liabilities and stockholders' equity $ 3,219,924 $ 2,945,367 DYCOM INDUSTRIES, INC. 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AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURESTO COMPARABLE GAAP FINANCIAL MEASURES (Dollars in thousands) Unaudited CONTRACT REVENUES, NON-GAAP ORGANIC CONTRACT REVENUES, AND GROWTH % Quarter Quarter Six Months Six Months Ended Ended Ended Ended July 26, 2025 July 27, 2024 July 26, 2025 July 27, 2024 Contract Revenues - GAAP $ 1,377,944 $ 1,203,059 $ 2,636,551 $ 2,345,482 Contract Revenues - GAAP Growth % 14.5 % 12.4 % Contract Revenues - GAAP $ 1,377,944 $ 1,203,059 $ 2,636,551 $ 2,345,482 Revenues from acquired businesses4 (139,766 ) (5,732 ) (256,575 ) (13,529 ) Non-GAAP Organic Contract Revenues $ 1,238,178 $ 1,197,327 $ 2,379,976 $ 2,331,953 Non-GAAP Organic Contract Revenues Growth % 3.4 % 2.1 % NET INCOME AND NON-GAAP ADJUSTED EBITDA Quarter Quarter Six Months Six Months Ended Ended Ended Ended July 26, 2025 July 27, 2024 July 26, 2025 July 27, 2024 Reconciliation of net income to Non-GAAP Adjusted EBITDA: Net income $ 97,483 $ 68,400 $ 158,530 $ 130,954 Interest expense, net 15,558 14,657 29,603 27,490 Provision for income taxes 33,635 26,419 51,187 41,309 Depreciation and amortization 60,854 46,572 119,243 91,777 EBITDA 207,530 156,048 358,563 291,530 Gain on sale of fixed assets (10,103 ) (8,160 ) (19,875 ) (20,564 ) Stock-based compensation expense 8,100 9,482 17,199 17,305 Loss on debt extinguishment2 — 965 — 965 Non-GAAP Adjusted EBITDA $ 205,527 $ 158,335 $ 355,887 $ 289,236 Non-GAAP Adjusted EBITDA % of contract revenues 14.9 % 13.2 % 13.5 % 12.3 % DYCOM INDUSTRIES, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURESTO COMPARABLE GAAP FINANCIAL MEASURES (CONTINUED) (Dollars in thousands, except share amounts) Unaudited NET INCOME, NON-GAAP ADJUSTED NET INCOME, DILUTED EARNINGS PER COMMON SHARE, AND NON-GAAP ADJUSTED DILUTED EARNINGS PER COMMON SHARE Quarter Quarter Six Months Six Months Ended Ended Ended Ended July 26, 2025 July 27, 2024 July 26, 2025 July 27, 2024 Reconciliation of net income to Non-GAAP Adjusted Net Income: Net income $ 97,483 $ 68,400 $ 158,530 $ 130,954 Pre-Tax Adjustments: Loss on debt extinguishment2 — 965 — 965 Stock-based compensation modification5 — 2,231 — 2,231 Tax Adjustments: Tax impact of pre-tax adjustments — 899 — 899 Total adjustments, net of tax — 4,095 — 4,095 Non-GAAP Adjusted Net Income $ 97,483 $ 72,495 $ 158,530 $ 135,049 Reconciliation of diluted earnings per common share to Non-GAAP Adjusted Diluted Earnings per Common Share: GAAP diluted earnings per common share $ 3.33 $ 2.32 $ 5.42 $ 4.44 Total adjustments, net of tax — 0.14 — 0.14 Non-GAAP Adjusted Diluted Earnings per Common Share $ 3.33 $ 2.46 $ 5.42 $ 4.58 Shares used in computing Non-GAAP Adjusted Diluted Earnings per Common Share 29,242,455 29,435,895 29,253,040 29,508,906 Amounts in tables above may not add due to rounding. DYCOM INDUSTRIES, INC. AND SUBSIDIARIESRECONCILIATION OF NON-GAAP FINANCIAL MEASURESTO COMPARABLE GAAP FINANCIAL MEASURES (CONTINUED) Explanation of Non-GAAP Financial Measures The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). In the Company's quarterly results releases, slide presentations, conference calls, and webcasts, it may use or discuss Non-GAAP financial measures, as defined by Regulation G of the Securities and Exchange Commission. The Company believes that the presentation of certain Non-GAAP financial measures in these materials provides information that is useful to investors because it allows for a more direct comparison of the Company's performance for the period reported with the Company's performance in prior periods. The Company cautions that Non-GAAP financial measures should be considered in addition to, but not as a substitute for, the Company's reported GAAP results. Management defines the Non-GAAP financial measures used as follows: Non-GAAP Organic Contract Revenues - contract revenues from businesses that are included for the entirety of both the current and prior year periods, excluding certain non-recurring items. Non-GAAP Organic Contract Revenue change percentage is calculated as the change in Non-GAAP Organic Contract Revenues from the comparable prior year period divided by the comparable prior year period Non-GAAP Organic Contract Revenues. Management believes Non-GAAP Organic Contract Revenues is a helpful measure for comparing the Company's revenue performance with prior periods. Non-GAAP Adjusted EBITDA - EBITDA (earnings before interest, taxes, depreciation and amortization) adjusted for gain on sale of fixed assets, stock-based compensation expense, and certain non-recurring items. Management believes Non-GAAP Adjusted EBITDA is a helpful measure for comparing the Company's operating performance with prior periods as well as with the performance of other companies with different capital structures or tax rates. Non-GAAP Adjusted Net Income - GAAP net income before certain non-recurring items and the related tax impact. Management believes Non-GAAP Adjusted Net Income is a helpful measure for comparing the Company's operating performance with prior periods. Non-GAAP Adjusted Diluted Earnings per Common Share - Non-GAAP Adjusted Net Income divided by weighted average diluted shares outstanding. Management excludes or adjusts each of the items identified below from Non-GAAP Adjusted EBITDA, Non-GAAP Adjusted Net Income and Non-GAAP Adjusted Diluted Earnings per Common Share: Loss on debt extinguishment - Loss on debt extinguishment includes the write-off of deferred financing fees in connection with the amendment of the Company's credit agreement during the quarter ended July 27, 2024. Management believes excluding the loss on debt extinguishment from the Company's Non-GAAP financial measures assists investors' overall understanding of the Company's current financial performance and provides management with a consistent measure for assessing the current and historical financial results. Stock-based compensation modification - In connection with the Company's CEO succession plan and transition completed in November 2024, the Company incurred stock-based compensation modification expense. The Company excludes the impact of the modification because the Company believes it is not indicative of its underlying results or ongoing operations. Tax impact of pre-tax adjustments - The tax impact of pre-tax adjustments reflects the Company's estimated tax impact of specific adjustments and the effective tax rate used for financial planning for the applicable period. Notes 1 Includes stock-based compensation expense of $8.1 million and $9.5 million for the quarters ended July 26, 2025 and July 27, 2024, respectively, and $17.2 million and $17.3 million for the six months ended July 26, 2025 and July 27, 2024, respectively. 2 During the quarter ended July 27, 2024, the Company recognized a loss on debt extinguishment of approximately $1.0 million in connection with the amendment of its credit agreement. 3 Provision for income taxes includes tax benefits resulting from the vesting and exercise of share-based awards of approximately $0.6 million and $0.1 million for the quarters ended July 26, 2025 and July 27, 2024, respectively, and approximately $2.8 million and $6.0 million for the six months ended July 26, 2025 and July 27, 2024, respectively. 4 Amounts represent contract revenues from acquired businesses that were not owned for the entirety of both the current and prior year periods. 5 In connection with the Company's CEO succession plan and transition completed in November 2024, the Company incurred stock-based compensation modification expense of $2.2 million during the quarter and six months ended July 27, 2024 related to previously issued equity awards.
