Quanta Services (PWR) Tops Q2 EPS by 6c; Selected for Large-Scale Cali. Project

Quanta Services (NYSE: PWR) reported Q2 EPS of $0.42, $0.06 better than the analyst estimate of $0.36. Revenue for the quarter came in at $1.15 billion versus the consensus estimate of $1.86 billion.

Quanta Services also announced that in July it was selected by a California-based utility for a large electric power transmission and distribution project located primarily in a national forest area in southern California. Led by CRUX Subsurface, Inc., a Quanta Services company, Quanta's scope of work includes the engineering, procurement and construction of the project, including rebuilding and replacing approximately 145 miles of 12 and 69 kilovolt underground and overhead electric power infrastructure.

Engineering and related services for the project have begun, and completion is anticipated in late 2019.

Quanta Services reaffirmed FY2016 guidance.

For earnings history and earnings-related data on Quanta Services (PWR) click here.

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