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Quanta Services Q3 Profit Rises

Quanta Services Inc. (PWR) reported that its net income attributable to common stock was $124.6 million or $0.81 per share, in the third quarter of 2018, compared to net income attributable to common stock of $89.3 million or $0.56 per share, in the third quarter of 2017.

Adjusted earnings per share was $0.88 compared to $0.63 last year.

Revenues in the third quarter of 2018 were $2.99 billion, compared to revenues of $2.61 billion in the third quarter of 2017.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.97 per share and revenues of $2.92 billion. Analysts' estimates typically exclude special items.

The long-term outlook for Quanta's business is positive. However, weather, regulatory, permitting, project timing, execution challenges and other factors have impacted the company's historical results, and may impact Quanta's future financial results. Therefore, Quanta's financial outlook for revenues, margins and earnings reflects management's effort to properly align these uncertainties with the backlog the company is executing on and the opportunities expected to materialize during 2018.

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