Quanta Services (PWR) Reports In-Line Q4 EPS

Quanta Services (NYSE: PWR) reported Q4 EPS of $0.57, in-line with the analyst estimate of $0.57. Revenue for the quarter came in at $2.1 billion versus the consensus estimate of $2.15 billion.

"We are pleased with the revenue and profitability momentum we experienced in the second half of 2016, as evidenced by our record revenues in the fourth quarter. We anticipate that this momentum will continue into 2017 and believe we are well positioned for profitable growth," said Duke Austin, president and chief executive officer of Quanta Services. "We see multi-year growth opportunities for both electric power and oil and gas infrastructure services, and we remain focused on our strategic objectives of returning profitability to historical levels, safely providing infrastructure solutions to our customers and running the business for the long-term."

OUTLOOK

The long-term outlook for Quanta's business is positive. However, weather, regulatory, permitting, project timing, execution challenges and other factors have impacted the company\'s historical results, and may impact Quanta's future financial results. Therefore, Quanta's financial outlook for revenues, margins and earnings reflects management's effort to properly align these uncertainties with the backlog that the company is executing on and the opportunities that are expected to materialize during 2017. The following forward-looking statements are based on current expectations, and actual results may differ materially.

Quanta expects revenues for the full year 2017 to range between $7.9 billion and $8.5 billion and diluted earnings per share from continuing operations attributable to common stock to be $1.52 to $1.77. Quanta expects adjusted diluted earnings per share from continuing operations attributable to common stock (a non-GAAP measure) for the full year 2017 to be $1.80 to $2.05. See the attached table for a reconciliation of estimated adjusted diluted earnings per share from continuing operations attributable to common stock to estimated GAAP diluted earnings per share from continuing operations attributable to common stock for the full year 2017.

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

You May Also Be Interested In

• Are we witnessing a fundamental or speculative rally in the S&P 500?
• After-Hours Stock Movers: AVGO, CRWD, FIVE, AI, TLYS, NTSK,
• IDT Corp. (IDT) Tops Q3 EPS by 2c; offer guidance