Dycom companies are all going to 30 day pay and using the Virus as the excuse . BS. Look at their financials . Last Jan 26th they had cash of 126 million dollars . This Jan they have 54 million in cash . Their stock price is sinking like a rock . From 60 a share to 24 a share . They have been downgraded by analysts . The Virus is a convenient excuse to use . .They are having cash flow issues . The only reason many worked for them at such low rates was because they bad quick . Now that carrot is gone and they will still pay they same low crappy rates . They do not allow to factor and even if they did many factoring companies may not approve them based of their financials . Pretty much all the work Dycom does is deemed essential so their stock should not be dropping like.a rock and being downgraded . Many companies will be stretched to continue working for them because as we know 30 days usually means 30 to 40 days . Fact is no one is to big to fail and they should be making money with all their contracts . Bottom line is they are top heavy even with paying peanuts to the guys doing the work . Expect to see deep cuts in over head . I cant imagine them cutting rates lower but one never knows. Need to a nationwide shutdown to force their hands as they are way behind on projects because they bid the jobs to low . Just crappy they use the Virus as an excuse when their financials for last year sucked and tehy are bleeding cash so of course the field guys pay /
Dycom 30 day pay update
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