Quanta Services Reports Second Quarter 2019 Results
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Quanta Services (PWR) Misses Q2 EPS by 52c, Revenues Miss; Raises FY19 Revenue Guidance Above Consensus, Offers FY19 EPS Guidance Below Consensus
August 1, 2019 7:21 AM EDTQuanta Services (NYSE: PWR) reported Q2 EPS of $0.31, $0.52 worse than the analyst estimate of $0.83. Revenue for the quarter came in at $2.84 billion versus the consensus estimate of $2.89 billion.
"Quanta's second quarter revenues increased approximately 7% versus the second quarter of last year, which includes a double-digit increase and record levels for Electric Power segment revenue, driven by grid modernization, system hardening and other long-term programs," said Duke Austin, President and Chief Executive Officer of Quanta Services. "Importantly, Pipeline and Industrial segment margins increased significantly, in part due to previous organic growth investments in our... More
