Quanta Services (PWR) Misses Q1 EPS by 10c; Issues Light Q2 EPS Outlook
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Quanta Services Announces Definitive Agreement to Sell its Fiber Optic Licensing Operations to Crown Castle for $1 Billion
April 30, 2015 6:08 AM EDTHOUSTON, Apr. 30, 2015 /PRNewswire/ --Â Quanta Services, Inc. (NYSE: PWR) announced today that it has entered into a definitive agreement to sell its fiber optic licensing operations to Crown Castle International Corp. (NYSE: CCI) for approximately $1 billion in cash. The transaction is subject to various regulatory approvals and other customary conditions prior to closing, but is expected to close by the end of this year. Quanta estimates after tax net proceeds from the transaction of approximately $800 million. J.P. Morgan Securities LLC served as exclusive... More
Crown Castle Announces Agreement to Acquire Sunesys
April 30, 2015 6:07 AM EDTHOUSTON, April 30, 2015 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE: CCI) ("Crown Castle") announced today that it has entered into a definitive agreement to acquire Quanta Fiber Networks, Inc. ("Sunesys") for approximately $1.0 billion in cash (subject to certain limited adjustments). Sunesys, a wholly owned subsidiary of Quanta Services, Inc. (NYSE: PWR), is a fiber services provider that owns or has rights to nearly 10,000 miles of fiber in major metropolitan markets across the United States, including Los Angeles, Philadelphia, Chicago, Atlanta, Silicon Valley, and northern New Jersey, with approximately 60%... More
Crown Castle Announces Agreement to Acquire Sunesys
April 30, 2015 6:07 AM EDTHOUSTON, April 30, 2015 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE: CCI) ("Crown Castle") announced today that it has entered into a definitive agreement to acquire Quanta Fiber Networks, Inc. ("Sunesys") for approximately $1.0 billion in cash (subject to certain limited adjustments). Sunesys, a wholly owned subsidiary of Quanta Services, Inc. (NYSE: PWR), is a fiber services provider that owns or has rights to nearly 10,000 miles of fiber in major metropolitan markets across the United States, including Los Angeles, Philadelphia, Chicago, Atlanta, Silicon Valley, and northern New Jersey, with approximately 60%... More
Quanta Services Reports 2015 First Quarter Results
April 30, 2015 6:07 AM EDTHOUSTON, April 30, 2015 /PRNewswire/ --Â Quanta Services, Inc. (NYSE: PWR) today announced results for the three months ended Mar. 31, 2015. Revenues in the first quarter of 2015 were $1.89 billion compared to revenues of $1.76 billion in the first quarter of 2014. Net income attributable to common stock was $53.5 million, or $0.25 per diluted share, in the first quarter of 2015, versus net income attributable to common stock of $54.4 million, or $0.25 per diluted share, in the first quarter of 2014. Adjusted diluted earnings per share (a non-GAAP measure) was $0.31 for the first quarter of 2015 compared to $0.44 for the first quarter... More
