Plus   Neg

Quanta Services Boosts FY20 Adj. EPS Outlook - Quick Facts

While reporting financial results for the third quarter on Thursday, contracting services company Quanta Services, Inc. (PWR) raised its adjusted earnings guidance for the full-year 2020, reflecting the strong third quarter results, healthy end market drivers and the addition of recent acquisitions.

For fiscal 2020, the company now projects earnings in a range of $2.61 to $2.72 per share and adjusted earnings in a range of $3.52 to $3.64 per share on revenues between $11.1 billion and $11.3 billion.

Previously, the company expected adjusted earnings in a range of $3.18 and $3.48 per share on revenues between $11.0 billion and $11.4 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.35 per share on revenues of $11.22 billion for the year. 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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Best Buy Co., Inc. is offering paid time off as vaccine benefit to all its employees amid the ongoing vaccinations against coronavirus. The company also announced bonuses to its hourly employees as a gratitude for the resilience shown by them as frontline workers during the crisis. The electronics retailer said it is offering paid time off for any employee who gets a COVID-19 vaccination. Entertainment company Walt Disney Co.'s exclusive streaming service Disney+ has added more content with the addition of the Star brand which launched today on the platform across Australia, New Zealand, Canada, and Europe. Disney+ with Star also launched today in Singapore, the first market to launch with the new general entertainment brand. Off-price retailer TJX Companies, Inc. (TJX) reported Wednesday that profit for the fourth quarter plunged from last year. Both earnings per share and sales for the quarter also missed analysts' expectations. TJX's net income for the quarter plunged to $325.52 million or $0.27 per share from $984.79...
Follow RTT