Quanta Services (PWR) Tops Q3 EPS by 11c, Revenues Beat

Quanta Services (NYSE: PWR) reported Q3 EPS of $1.14, $0.11 better than the analyst estimate of $1.03. Revenue for the quarter came in at $3.35 billion versus the consensus estimate of $3.19 billion.

"Quanta achieved record quarterly revenues, adjusted EBITDA, adjusted diluted earnings per share and backlog during the third quarter. Of note, our pipeline and industrial segment generated record quarterly operating income and produced operating income margin of nine percent. Quanta is on track for another record year and due to our solid third quarter results, healthy end market drivers and the addition of recently announced acquisitions, we are increasing our full-year 2019 revenue, EBITDA and earnings per share expectations," said Duke Austin, President and Chief Executive Officer of Quanta Services.

"We are also executing well on our strategic plan and continue to believe there is opportunity to drive multi-year revenue and earnings growth by focusing on our base business, supporting the long-term programmatic spend of utilities and participating in the development of infrastructure that supports technology deployments such as 5G and electric vehicles. We believe these dynamics, as well as the acquisitions we completed in the third quarter and anticipated construction levels on the Watay and East West Tie Line transmission projects, support our expectations for profitable growth in 2020 and beyond."

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

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