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Quanta Services' (PWR) Q3 Earnings Meet, Revenues Lag
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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. 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.
Quanta Services has been strongly benefiting from pursuing its diligent three-pronged growth strategy. It focuses on the timely delivery of projects, leveraging on its core business areas to expand in complementary service lines and venturing into new service lines. The company’s decentralized and entrepreneurial business model has aided it in combating some of the most pressing macroeconomic challenges, thus driving growth in recent times.
Of late, 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 implementation of clean energy initiatives. Also, favorable government regulations, such as the EPA's Clean Power Plan and Federal Energy Regulatory Commission (“FERC”) Order 1000 to generate significant incremental electric transmission investment, are proving conducive to growth.
The company has had a choppy earnings history. It missed the Zacks Consensus Estimate in two of the trailing four quarters with a negative average surprise of 13.4%.
Currently, PWR has a Zacks Rank #2 (Buy) but that could definitely change following its third-quarter 2016 earnings report, which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: PWR’s adjusted earnings came in at 51 cents per share, in line with the Zacks Consensus Estimate.
Revenue: Revenues of the company came in at $ 2,042.2 million, missing the Zacks Consensus Estimate of $2,075 million.
Key Stats: The company’s third-quarter results were driven by sound execution in base electric power business and the addition of many large pipeline projects. Going forward, the company believes bright prospects for the second half of the year.
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.
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Quanta Services' (PWR) Q3 Earnings Meet, Revenues Lag
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.
Quanta Services has been strongly benefiting from pursuing its diligent three-pronged growth strategy. It focuses on the timely delivery of projects, leveraging on its core business areas to expand in complementary service lines and venturing into new service lines. The company’s decentralized and entrepreneurial business model has aided it in combating some of the most pressing macroeconomic challenges, thus driving growth in recent times.
Of late, 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 implementation of clean energy initiatives. Also, favorable government regulations, such as the EPA's Clean Power Plan and Federal Energy Regulatory Commission (“FERC”) Order 1000 to generate significant incremental electric transmission investment, are proving conducive to growth.
The company has had a choppy earnings history. It missed the Zacks Consensus Estimate in two of the trailing four quarters with a negative average surprise of 13.4%.
Currently, PWR has a Zacks Rank #2 (Buy) but that could definitely change following its third-quarter 2016 earnings report, which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: PWR’s adjusted earnings came in at 51 cents per share, in line with the Zacks Consensus Estimate.
Revenue: Revenues of the company came in at $ 2,042.2 million, missing the Zacks Consensus Estimate of $2,075 million.
QUANTA SERVICES Price and EPS Surprise
QUANTA SERVICES Price and EPS Surprise | QUANTA SERVICES Quote
Key Stats: The company’s third-quarter results were driven by sound execution in base electric power business and the addition of many large pipeline projects. Going forward, the company believes bright prospects for the second half of the year.
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.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>