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Quanta Services (PWR) Q4 Earnings Beats, Offers Guidance

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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. Over time, the company has grown organically and made strategic acquisitions to expand its geographic presence.

The company has been witnessing a solid rebound in its end markets, on the back of key growth drivers, like an aging grid, shifting generation mix and grid modernization. The company’s decentralized and entrepreneurial business model has been driving growth in recent times. Also, favorable government regulations to generate significant incremental electric transmission investment are proving conducive to growth.

Despite these positives, PWR has been grappling with adverse weather conditions in recent times. Also, unfavorable timing of revenues and corresponding income contributions of certain projects remain concerns for the company’s operational results. In addition, fluctuations in timing of large projects have also been hurting the company’s financials over the last few quarters.

PWR has had a choppy earnings history in recent times. It has a negative average surprise of 2.8%, having missed the Zacks Consensus estimate thrice over the trailing four quarters.

Currently, PWR has a Zacks Rank #2 (Buy) but that could definitely change following its fourth-quarter 2017 earnings report, which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

We have highlighted some of the key details from the just-released announcement below:

Earnings: PWR’s adjusted earnings came in at 45 cents per share, beating the Zacks Consensus Estimate of 44 cents.

Quanta Services, Inc. Price, Consensus and EPS Surprise

Quanta Services, Inc. Price, Consensus and EPS Surprise | Quanta Services, Inc. Quote

Revenue: Revenues of the company came in at $2,478.6 million, surpassing the Zacks Consensus Estimate of $2,344 million.

Key Stats: Concurrent with the fourth-quarter 2017 results, the company offered its full-year 2018 guidance. PWR expects 2018 revenues to lie in the range of $9.75-$10.25 billion. It expects its full-year adjusted earnings per share in the range of $2.40 to $2.80.

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!

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