Quanta Services (PWR) Misses Q2 EPS by 20c; Issues Light Q3 Outlook

Quanta Services (NYSE: PWR) reported Q2 EPS of $0.24, $0.20 worse than the analyst estimate of $0.44. Revenue for the quarter came in at $1.87 billion versus the consensus estimate of $1.99 billion.

The long-term outlook for Quanta's business is positive. However, short-term financial results have been impacted by adverse weather conditions, execution challenges on certain larger projects, a higher effective tax rate, the adverse effect of currency translation, and project delays due to regulatory, permitting and other challenges. Some of these issues are expected to continue to impact results in the near term. Therefore, Quanta's financial outlook for revenues, margins and earnings reflects management's efforts to properly align these uncertainties with the backlog the company is executing on and the opportunities expected to materialize during the remainder of 2015. The following forward-looking statements are based on current expectations, and actual results may differ materially.

Quanta completed the sale of its fiber optic licensing operations, and as such, Quanta's third quarter and full year financial outlook from continuing operations excludes the financial contribution of these operations. Quanta's previous full year guidance, excluding the fiber optic licensing operations, was revenues of $8.0 to $8.4 billion and diluted earnings per share of $1.58 to $1.77.

Quanta Services sees Q3 2015 EPS of $0.34-$0.40, versus the consensus of $0.67. Quanta Services sees Q3 2015 revenue of $1.9-2.0 billion, versus the consensus of $2.32 billion.

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

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