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Quanta Services Inc. Q1 adjusted earnings Inline With Estimates

Quanta Services Inc. (PWR) released earnings for first quarter that dropped from last year.

The company's bottom line came in at $38.69 million, or $0.26 per share. This compares with $120.49 million, or $0.82 per share, in last year's first quarter.

Excluding items, Quanta Services Inc. reported adjusted earnings of $68.83 million or $0.47 per share for the period.

Analysts had expected the company to earn $0.47 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.8% to $2.76 billion from $2.81 billion last year.

Quanta Services Inc. earnings at a glance:

-Earnings (Q1): $68.83 Mln. vs. $140.62 Mln. last year.
-EPS (Q1): $0.47 vs. $0.96 last year.
-Analysts Estimate: $0.47
-Revenue (Q1): $2.76 Bln vs. $2.81 Bln last year.

-Guidance:
Full year EPS guidance: $3.04 - $3.36

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