Quanta Services (PWR) Tops Q1 EPS by 8c, Beats on Revenues

Quanta Services (NYSE: PWR) reported Q1 EPS of $0.40, $0.08 better than the analyst estimate of $0.32. Revenue for the quarter came in at $2.42 billion versus the consensus estimate of $2.1 billion.

Results for the three months ended March 31, 2018.

• Revenues in the first quarter of 2018 were $2.42 billion, compared to revenues of $2.18 billion in the first quarter of 2017, and net income attributable to common stock was $37.6 million in the first quarter of 2018, or $0.24 per diluted share, compared to net income attributable to common stock of $48.3 million, or $0.31 per diluted share, in the first quarter of 2017.
• Adjusted diluted earnings per share attributable to common stock (a non-GAAP measure) was $0.40 for the first quarter of 2018 compared to $0.39 for the first quarter of 2017.

"Quanta revenue and margin growth due to excellent execution across our operations," said Duke Austin, President and Chief Executive Officer of Quanta Services. "As a result of our solid first quarter results, strengthening end markets and confidence in our ability to safely execute, we are raising our full year revenue and earnings per share expectations. With the largest specialized workforce in our industry, as well as our scope and scale, innovative solutions and ability to execute complex projects while providing cost certainty, we remain well positioned in our markets and believe our visibility into opportunities for multi-year growth are strengthening."

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

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