We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Quanta Services (PWR) Q2 Earnings and Revenues Miss
Read MoreHide Full Article
Quanta Services Inc. (PWR - Free Report) is a leading national provider of specialty contracting services, and one of the largest contractors serving the transmission and distribution sector of the North American electric utility industry. The company has grown organically and made strategic acquisitions to expand its geographic presence and scope of services, along with developing new capabilities to meet its customers evolving needs.
Of late, an overall increase in spending for upgrade and expansion of transmission & distribution infrastructure, improving system reliability and delivering renewable electricity from new-generation sources to demand centers, have proved to be beneficial for PWR. Also, the company’s proven track record of on-time project completion and bolt-on acquisitions have added to its strength.
However, PWR has been facing major headwinds in recent times, like harsh weather events, project delays and abrupt shifts in small transmission market dynamics. In addition, the collapses in oil prices, especially its effect on the Canadian economy, are adding to the company’s woes. At present, one of the biggest challenges for the company is obtaining the sighting and permission for energy infrastructure projects, including major electric transmission programs, and this continues to weigh on its profitability.
The company has had a choppy earnings history. It beat the Zacks Consensus Estimate in two of the trailing four quarters, while missing in one, with a modest average positive surprise of 0.9%.
Currently, PWR has a Zacks Rank #4 (Sell) but that could definitely change following its second-quarter 2016 earnings report, which has just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: PWR’s adjusted earnings came in at 14 cents per share, missing the Zacks Consensus Estimate of 32 cents by a huge margin.
Revenue: Revenues of the company came in at $1,792.4 million, missing the Zacks Consensus Estimate of $1,855 million.
Key Stats: PWR’s operating results suffered due to a major project loss, persistent weakness in the oil and gas segment as well as unrelenting engineering and production issues on a power plant construction project in Alaska.
Stock Price: PWR shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on this PWR earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Quanta Services (PWR) Q2 Earnings and Revenues Miss
Quanta Services Inc. (PWR - Free Report) is a leading national provider of specialty contracting services, and one of the largest contractors serving the transmission and distribution sector of the North American electric utility industry. The company has grown organically and made strategic acquisitions to expand its geographic presence and scope of services, along with developing new capabilities to meet its customers evolving needs.
Of late, an overall increase in spending for upgrade and expansion of transmission & distribution infrastructure, improving system reliability and delivering renewable electricity from new-generation sources to demand centers, have proved to be beneficial for PWR. Also, the company’s proven track record of on-time project completion and bolt-on acquisitions have added to its strength.
However, PWR has been facing major headwinds in recent times, like harsh weather events, project delays and abrupt shifts in small transmission market dynamics. In addition, the collapses in oil prices, especially its effect on the Canadian economy, are adding to the company’s woes. At present, one of the biggest challenges for the company is obtaining the sighting and permission for energy infrastructure projects, including major electric transmission programs, and this continues to weigh on its profitability.
The company has had a choppy earnings history. It beat the Zacks Consensus Estimate in two of the trailing four quarters, while missing in one, with a modest average positive surprise of 0.9%.
QUANTA SERVICES Price and EPS Surprise
QUANTA SERVICES Price and EPS Surprise | QUANTA SERVICES Quote
Currently, PWR has a Zacks Rank #4 (Sell) but that could definitely change following its second-quarter 2016 earnings report, which has just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: PWR’s adjusted earnings came in at 14 cents per share, missing the Zacks Consensus Estimate of 32 cents by a huge margin.
Revenue: Revenues of the company came in at $1,792.4 million, missing the Zacks Consensus Estimate of $1,855 million.
Key Stats: PWR’s operating results suffered due to a major project loss, persistent weakness in the oil and gas segment as well as unrelenting engineering and production issues on a power plant construction project in Alaska.
Stock Price: PWR shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on this PWR earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>