Quanta Services (PWR) Sees 4c-5c GAAP EPS Impact from Central States Plan

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PWR Hot Sheet

EPS Growth %: +640.0%

Financial Fact:
Weighted average basic shares outstanding: 211.48M

Today's EPS Names:
TARO, BRLI, TLB, More

Quanta Services, Inc. (NYSE: PWR) today announced that its 2011 fourth quarter results will include a pre-tax charge to earnings of $32.6 million due to the withdrawal from the Central States Southeast and Southwest Areas Pension Plan (Central States Plan) by certain Quanta subsidiaries.

In addition, Quanta expects to record a tax benefit of between $10 million and $11 million primarily related to the release of income tax contingencies in the fourth quarter of 2011 as a result of the expiration of various federal and state statutes of limitations and audit settlements. Quanta estimates that the net effect of these items will negatively impact the company's diluted earnings per share for the fourth quarter and full year by approximately $0.04 to $0.05. If the net effect of these items are excluded, Quanta currently expects its fourth quarter 2011 diluted earnings per share to be within its previously announced range of $0.32 to $0.36.

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