Quanta Services: 4Q Earnings Snapshot
HOUSTON (AP) _ Quanta Services Inc. (PWR) on Thursday reported fourth-quarter earnings of $56.8 million.
On a per-share basis, the Houston-based company said it had profit of 38 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 96 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.
The specialty contractor for utility and energy companies posted revenue of $3.11 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $2.95 billion.
For the year, the company reported profit of $293.3 million, or $1.90 per share. Revenue was reported as $11.17 billion.
Quanta Services expects full-year earnings in the range of $3.30 to $3.75 per share.
Quanta Services shares have increased 22 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 11 percent. The stock has risen almost 5 percent in the last 12 months.