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    Quanta Services Delivers Strong Q2 Results Amidst Utility and Energy Industry Expansion

    BySam Figg

    Nov 19, 2023
    Quanta Services Delivers Strong Q2 Results Amidst Utility and Energy Industry Expansion

    Houston-based Quanta Services Inc. (PWR) has reported a robust second-quarter performance, posting a profit of $165.9 million. With impressive per-share net income of $1.12, Quanta Services has showcased its ability to navigate a dynamic market.

    Adjusted for one-time gains and costs, the company’s earnings stood at $1.65 per share, slightly below expectations set by Wall Street analysts. Zacks Investment Research surveyed six analysts who estimated earnings per share to be $1.67. However, Quanta Services managed to surpass Street forecasts for revenue, generating $5.05 billion in the period. Four analysts surveyed by Zacks forecasted revenue of $4.69 billion.

    Quanta Services primarily operates as a specialty contractor within the utility and energy sectors. It provides essential services to companies in these industries, supporting their infrastructure development, maintenance, and expansion initiatives.

    The utility and energy industry is experiencing significant growth, driven by increasing demands for efficient and sustainable energy solutions. As companies aim to modernize and optimize their infrastructure, Quanta Services plays a crucial role in meeting their evolving needs.

    What is Quanta Services?
    Quanta Services Inc. is a Houston-based specialty contractor that serves utility and energy companies.

    What does Quanta Services do?
    Quanta Services provides comprehensive infrastructure solutions, including design, installation, maintenance, and repair services, to utility and energy companies.

    How is the utility and energy industry expanding?
    The utility and energy industry is witnessing growth due to rising demands for sustainable and efficient energy solutions. As companies invest in modernizing their infrastructure, specialty contractors like Quanta Services are vital in driving this expansion.

    Looking ahead, Quanta Services anticipates full-year earnings in the range of $6.90 to $7.30 per share, with revenue projected to reach $19.6 billion to $20 billion. The company’s strong performance, coupled with the industry’s growth prospects, positions Quanta Services for continued success in the market.

    – Zacks Investment Research: [https://www.zacks.com]