Quanta Services (PWR) Tops Q4 EPS by 6c, Revenues Beat

Quanta Services (NYSE: PWR) reported Q4 EPS of $0.96, $0.06 better than the analyst estimate of $0.90. Revenue for the quarter came in at $3.11 billion versus the consensus estimate of $2.94 billion.

"Quanta's fourth quarter results capped off another record year, demonstrated by the highest levels of annual revenue, adjusted EBITDA, adjusted EPS and backlog in the company's history. With end market drivers firmly in place and high demand for specialized skilled labor and our services, we continue to believe we are well positioned for a multi-year growth cycle in our base business and for larger projects when they occur," said Duke Austin, President and Chief Executive Officer of Quanta Services. "Our outlook for 2019 reflects improved profitability and growth in adjusted EBITDA, earnings per share and cash flow. We are executing on our strategic growth initiatives, which, coupled with our strong financial profile, positions us well to deliver value to stockholders. To that end, during 2018, Quanta repurchased approximately $451 million of its common stock and initiated a quarterly cash dividend, demonstrating our continued confidence in the stability of Quanta\'s base business and long-term growth prospects."

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 the company is executing on and the opportunities expected to materialize during 2019. The following forward-looking statements are based on current expectations, and actual results may differ materially.

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

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