Quanta Services Inc. Q1 Profit Decreases, but beats estimates

Quanta Services Inc. (PWR) released earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $84.64 million, or $0.57 per share. This compares with $89.76 million, or $0.62 per share, in last year's first quarter.

Excluding items, Quanta Services Inc. reported adjusted earnings of $203.56 million or $1.37 per share for the period.

Analysts on average had expected the company to earn $1.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 47.0% to $3.97 billion from $2.70 billion last year.

Quanta Services Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $84.64 Mln. vs. $89.76 Mln. last year.
-EPS (Q1): $0.57 vs. $0.62 last year.
-Analyst Estimates: $1.22
-Revenue (Q1): $3.97 Bln vs. $2.70 Bln last year.

Full year EPS guidance: Adj; $6.00 - $6.50
Full year revenue guidance: $16.20 - $16.70 Bln

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