Market Overview

UPDATE: Quanta Services Posts 85% Surge In Q3 Profit, Lifts Full-Year Forecast

Related PWR
UPDATE: Baird Equity Research Upgrades Quanta Services On Positive Long-Term Outlook
Doble Awarded Contract by NGRID SA, ESCO to Gain - Analyst Blog

Quanta Services (NYSE: PWR) reported an 85% rise in its third-quarter earnings and lifted its full-year forecast.

Quanta Services now expects full-year adjusted earnings of $1.50 to $1.52 per share on revenue of $6.2 billion to $6.3 billion. The company in August expected earnings of $1.35 and $1.45 per share on revenue of $5.9 billion to $6.1 billion.

Quanta Services' quarterly profit rose to $96.4 million, or $0.45 per share, from $52 million, or $0.25 per share, in the year-ago period. Excluding other items, Quanta Services earned $0.48 per share.

Its revenue surged 35% to $1.69 billion. The company in August expected adjusted earnings of $0.39 to $0.42 per share on revenue of $1.6 billion to $1.7 billion.

Its gross margin rose to 16.6% from 15.6%.

Quanta Services shares closed at $23.60 on Friday.

Posted-In: profitEarnings News Guidance

 

Related Articles (PWR)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters

Benzinga Professional