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.
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!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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.
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!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on PWR - FREE