Quanta Services Earnings: Here’s Why Investors are Ambivalent Now
Quanta Services, Inc. (NYSE:PWR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Quanta Services, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 72.73% to $0.38 in the quarter versus EPS of $0.22 in the year-earlier quarter.
Revenue: Rose 11.21% to $1.59 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Quanta Services, Inc. reported adjusted EPS income of $0.38 per share. By that measure, the company beat the mean analyst estimate of $0.29. It beat the average revenue estimate of $1.4 billion.
Quoting Management: “We are off to a great start this year with record revenues, record profits and record backlog for the first quarter of 2013. Equally important, our employees continue to operate at high levels of safety and efficiency in a tight labor market,” said Jim O’Neil, president and chief executive officer of Quanta Services. “We expect the performance of our electric power segment to remain strong this year while our natural gas and pipeline segment builds momentum throughout the remainder of 2013, which bodes well for our overall business outlook for 2014 and beyond.”
Key Stats (on next page)…