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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 1.4% over the trailing four quarters, having missed the Zacks Consensus estimate twice for as many beats.
Quanta Services, Inc. Price, Consensus and EPS Surprise
We have highlighted some of the key details from the just-released announcement below:
Earnings: PWR’s adjusted earnings came in at 40 cents per share, beating the Zacks Consensus Estimate of 32 cents comfortably.
Revenue: Revenues of the company came in at $2,417.6 million, surpassing the Zacks Consensus Estimate of $2,061 million.
Key Stats: Concurrent with the first-quarter 2018 results, the company raised its full-year 2018 guidance. PWR now expects 2018 revenues to lie in the range of $9.95-$10.55 billion. It expects its full-year adjusted earnings per share in the range of $2.55 to $2.95.
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!
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
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Quanta Services (PWR) Q4 Earnings Beat, Guidance Raised
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 1.4% over the trailing four quarters, having missed the Zacks Consensus estimate twice for as many beats.
Quanta Services, Inc. Price, Consensus and EPS Surprise
Quanta Services, Inc. Price, Consensus and EPS Surprise | Quanta Services, Inc. Quote
Currently, PWR has a Zacks Rank #2 (Buy) but that could definitely change following its first-quarter 2018 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 40 cents per share, beating the Zacks Consensus Estimate of 32 cents comfortably.
Revenue: Revenues of the company came in at $2,417.6 million, surpassing the Zacks Consensus Estimate of $2,061 million.
Key Stats: Concurrent with the first-quarter 2018 results, the company raised its full-year 2018 guidance. PWR now expects 2018 revenues to lie in the range of $9.95-$10.55 billion. It expects its full-year adjusted earnings per share in the range of $2.55 to $2.95.
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!
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>