Quanta Services Inc.PWR 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. The company has grown organically and made strategic acquisitions to expand its geographic presence and scope of services, along with developing new capabilities to meet its customers evolving needs.
PWR is benefiting from increased spending in the Electric Power segment on projects to upgrade and deploy electric power transmission infrastructure so as to improve system reliability and deliver renewable electricity from new generation sources to demand centers. Also, PWR has a proven track record of on-time project completion, thereby ensuring client satisfaction.
However, the company has been coming up with meek earnings results over the last few quarters mainly due to weak Electric Power Infrastructure segment performance. PWR posted a negative surprise of 6.15% over four consecutive quarters. Also, in it's third quarter 2015 preliminary results, the company has lowered its expectation for the to-be reported quarter owing to persisting operational problems.
Currently, PWR has a Zacks Rank #5 (Strong Sell) but that could definitely change following its third quarter 2015 earnings report, which has just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings : PWR's third-quarter 2015 adjusted earnings per share from net income attributable to common stock came in at 30 cents per share, which beat the Zacks Consensus Estimate of 26 cents.
Revenue : Revenues of the company came in at $1,939 million, down from the Zacks Consensus Estimate of $1,957 million .
Key Stats : PWR has completed the divesture of its fiber optic licensing operations in the quarter Also, the company had bought over $1 billion common shares in the quarter.
Stock Price : Shares prices did not show any movement in the pre-market trading session. 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!
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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