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Quanta Services (PWR) Q1 Earnings and Revenues Beat, View Up
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Quanta Services Inc. (PWR - Free Report) is a leading national provider of specialty contracting services, and one of the largest contractors serving the transmission and distribution sector of the North American electric utility industry. Over time, the company has grown organically and made strategic acquisitions to expand its geographic presence.
PWRcompany has been witnessing a solid rebound in its end markets, on the back of key growth drivers, like an aging grid, shifting generation mix and implementation of clean energy initiatives. The company’s decentralized and entrepreneurial business model has been driving growth in recent times. Also, favorable government regulations to generate significant incremental electric transmission investment are proving conducive to growth.
Despite these positives, PWR has been grappling with adverse weather conditions in recent times. Also, unfavorable timing of revenues and corresponding income contributions of certain projects remain concerns for the company’s operational results. In addition, fluctuations in timing of large projects have also been hurting the company’s financials over the last few quarters.
PWR has had a choppy earnings history. It has a negative average surprise of 17.3%, missing the Zacks Consensus estimate thrice over the trailing four quarters.
Currently, PWR has a Zacks Rank #3 (Hold) but that could definitely change following its first-quarter 2017 earnings report, which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: PWR’s adjusted earnings came in at 39 cents per share, beating the Zacks Consensus Estimate of 38 cents by a penny.
Revenue: Revenues of the company came in at $2,178.2 million, surpassing the Zacks Consensus Estimate of $2,005 million.
Key Stats: Concurrent with the first-quarter 2017 results, the company increased its full-year guidance. PWR now expects revenues to lie in the range of $8.1-$8.6 billion, compared with the previously guided range of $7.9–$8.5 billion. Also, it raised its full-year adjusted earnings per share guidance from $1.80–$2.05 to $1.82 to $2.07.
Stock Price: PWR shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back for our full write up on this PWR earnings report later!
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Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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Quanta Services (PWR) Q1 Earnings and Revenues Beat, View Up
Quanta Services Inc. (PWR - Free Report) is a leading national provider of specialty contracting services, and one of the largest contractors serving the transmission and distribution sector of the North American electric utility industry. Over time, the company has grown organically and made strategic acquisitions to expand its geographic presence.
PWRcompany has been witnessing a solid rebound in its end markets, on the back of key growth drivers, like an aging grid, shifting generation mix and implementation of clean energy initiatives. The company’s decentralized and entrepreneurial business model has been driving growth in recent times. Also, favorable government regulations to generate significant incremental electric transmission investment are proving conducive to growth.
Despite these positives, PWR has been grappling with adverse weather conditions in recent times. Also, unfavorable timing of revenues and corresponding income contributions of certain projects remain concerns for the company’s operational results. In addition, fluctuations in timing of large projects have also been hurting the company’s financials over the last few quarters.
PWR has had a choppy earnings history. It has a negative average surprise of 17.3%, missing the Zacks Consensus estimate thrice over the trailing four quarters.
Currently, PWR has a Zacks Rank #3 (Hold) but that could definitely change following its first-quarter 2017 earnings report, which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: PWR’s adjusted earnings came in at 39 cents per share, beating the Zacks Consensus Estimate of 38 cents by a penny.
Quanta Services, Inc. Price and EPS Surprise
Quanta Services, Inc. Price and EPS Surprise | Quanta Services, Inc. Quote
Revenue: Revenues of the company came in at $2,178.2 million, surpassing the Zacks Consensus Estimate of $2,005 million.
Key Stats: Concurrent with the first-quarter 2017 results, the company increased its full-year guidance. PWR now expects revenues to lie in the range of $8.1-$8.6 billion, compared with the previously guided range of $7.9–$8.5 billion. Also, it raised its full-year adjusted earnings per share guidance from $1.80–$2.05 to $1.82 to $2.07.
Stock Price: PWR shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back for our full write up on this PWR earnings report later!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>