Houston-based Quanta Services Inc. (PWR) recently released its impressive third-quarter earnings report, showcasing a net income of $272.8 million. Translating into $1.83 per share, these results reflect the company’s ongoing success in the utility and energy sectors.
Adjusted for one-time gains and costs, the earnings reached $2.24 per share, surpassing the projections of five analysts surveyed by Zacks Investment Research, who had estimated earnings of $2.14 per share. This remarkable accomplishment not only demonstrates Quanta Services’ strong financial performance but also positions the company favorably in the eyes of investors and stakeholders alike.
Furthermore, Quanta Services’ revenue in the third quarter amounted to an impressive $5.62 billion, exceeding expectations set by industry professionals. Three analysts surveyed by Zacks expected a revenue of $5.26 billion, indicating the company’s ability to outperform forecasts.
With such promising results in their rearview mirror, Quanta Services has set its sights on the future. The company anticipates full-year earnings to fall within the range of $7 to $7.20 per share, with revenue projected to reach an impressive range of $20.1 billion to $20.4 billion. As Quanta Services continues to thrive, these ambitious targets testify to the company’s unwavering commitment to sustained growth and prosperity in the utility and energy contracting space.
Q: What is Quanta Services Inc.?
A: Quanta Services Inc. is a specialty contractor that serves utility and energy companies.
Q: How did Quanta Services perform in the third quarter?
A: Quanta Services reported a net income of $272.8 million, amounting to $1.83 per share. Adjusted earnings per share reached $2.24, surpassing analysts’ estimates.
Q: What was Quanta Services’ revenue in the third quarter?
A: Quanta Services generated revenue of $5.62 billion during the third quarter, which exceeded industry forecasts.
Q: What are Quanta Services’ projections for the full year?
A: Quanta Services anticipates full-year earnings per share to be between $7 and $7.20, with revenue expected to fall within the range of $20.1 billion to $20.4 billion.
This article was generated by an AI technology, using data from Zacks Investment Research. For more information about Quanta Services, please visit: Zacks.com.