Quanta Services Announces New $1.25 Billion Stock Repurchase Program
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August 5, 2015 6:14 AM EDT
Quanta Services (NYSE: PWR) announced that its board of directors has authorized the company to repurchase, from time to time through February 28, 2017, up to $1.25 billion in shares of its outstanding common stock. To implement a portion of this program, the company intends to enter into a $750 million accelerated stock repurchase ("ASR") arrangement in the near term. The newly announced program follows completion of Quanta's previously... More
August 5, 2015 6:14 AM EDT
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... More
