Quanta Services Inc. (PWR) announced a significant profit increase for its second quarter, surpassing analysts' expectations.
The company reported a net income of $188.16 million, translating to $1.26 per share, up from $165.90 million, or $1.12 per share, in the same quarter last year.
On an adjusted basis, Quanta Services' earnings stood at $283.98 million, or $1.90 per share, for the quarter. This outperformed the average analysts' expectation of $1.89 per share, as per Thomson Reuters data, where analysts' estimates typically exclude special items.
Revenue for the quarter saw a robust growth of 10.8%, reaching $5.594 billion compared to $5.049 billion in the previous year.
A summary of Quanta Services Inc.'s quarterly earnings (GAAP):
- Earnings (Q2): $188.16 million vs. $165.90 million last year.
- EPS (Q2): $1.26 vs. $1.12 last year.
- Revenue (Q2): $5.594 billion vs. $5.049 billion last year.
**Guidance:**
- Full-year EPS forecast: $8.32 - $8.87
- Full-year revenue forecast: $23.50 - $24.10 billion
