Core Viewpoint - Growth investors are increasingly focused on stocks with above-average financial growth, but identifying such stocks can be challenging due to inherent risks and volatility [1] Group 1: Company Overview - Quanta Services (PWR) is currently highlighted as a recommended growth stock based on the Zacks Growth Style Score, which evaluates a company's real growth potential beyond traditional metrics [2] - The company has a historical EPS growth rate of 23.2%, with projected EPS growth of 18.2% this year, significantly outperforming the industry average of 10.2% [4] Group 2: Financial Metrics - Quanta Services has an asset utilization ratio (sales-to-total-assets ratio) of 1.4, indicating that the company generates $1.4 in sales for every dollar in assets, surpassing the industry average of 1.17 [5] - The company's sales are expected to grow by 11.9% this year, compared to the industry average of 5.6%, showcasing strong sales growth potential [6] Group 3: Earnings Estimates - The current-year earnings estimates for Quanta Services have been revised upward, with the Zacks Consensus Estimate increasing by 0.3% over the past month, indicating positive momentum [8] - The combination of strong earnings growth, efficient asset utilization, and positive earnings estimate revisions positions Quanta Services favorably for outperformance in the market [9]

Core Viewpoint - Quanta Services Inc. experienced a 4% decline in shares following the release of its mixed second-quarter 2024 earnings, with earnings missing consensus estimates while revenues exceeded expectations [1][2] Financial Performance - The Renewable Energy Infrastructure Solutions segment showed significant growth, contributing 36.4% to total revenues with a year-over-year increase of 46.4%, surpassing the expected growth of 26.5% [3] - The Electric Power segment, which is the primary revenue source, accounted for 43.8% of revenues but only grew by 1.5%, falling short of the anticipated 9.3% growth [8] - The overall backlog for the Renewable Energy segment was $7.8 billion as of June 30, 2024, while the Electric Segment backlog reached a record $17.2 billion, reflecting a 4.2% year-over-year increase [5][10] Strategic Initiatives - The acquisition of Cupertino Electric, Inc. (CEI) is expected to enhance Quanta's capabilities and contribute $1-$1.1 billion in revenues and $80-$90 million in adjusted EBITDA for the remainder of 2024 [12][13] - The company raised its 2024 guidance for revenues to $23.5-$24.1 billion, adjusted EBITDA to $2.21-$2.33 billion, and adjusted EPS to $8.32-$8.87, reflecting the positive impact of the CEI acquisition [13] Market Dynamics - The Renewable Energy segment's growth is supported by strong customer relationships and a focus on large-scale solar, battery, and wind projects, with expectations of record revenue levels as demand for clean power increases [6] - The Electric Power segment is benefiting from utility grid modernization and increased demand due to new technologies and the rise of electric vehicles, which necessitate significant capital investment in the power grid [10][11]

Quanta Services Inc. (PWR) reported mixed results for second-quarter 2024, wherein adjusted earnings missed the Zacks Consensus Estimate, but revenues surpassed the same. Both metrics increased on a year-over-year basis. However, shares of this leading national provider of specialty contracting services fell 1.3% in the pre-market trading session on Aug 1. Quanta's performance in the second quarter marks a strong base for the rest of 2024, characterized by impressive growth across key metrics. Moreover, the ...

Core Insights - Quanta Services reported revenue of $5.59 billion for the quarter ended June 2024, reflecting a year-over-year increase of 10.8% and a surprise of +1.51% over the Zacks Consensus Estimate of $5.51 billion [1] - The earnings per share (EPS) for the quarter was $1.90, which is an increase from $1.65 in the same quarter last year, although it fell short of the consensus estimate of $1.93 by -1.55% [1] Revenue Breakdown - Electric Power Infrastructure Solutions generated revenues of $2.45 billion, which is below the average estimate of $2.64 billion, representing a year-over-year increase of +1.5% [4] - Underground Utility and Infrastructure Solutions reported revenues of $1.11 billion, slightly below the average estimate of $1.13 billion, showing a year-over-year decline of -11% [5] - Renewable Energy Infrastructure Solutions achieved revenues of $2.03 billion, exceeding the average estimate of $1.75 billion, marking a significant year-over-year increase of +46.4% [6] Operating Income Analysis - Operating income for Electric Power Infrastructure Solutions was $263.86 million, slightly below the average estimate of $267.88 million [6] - Operating income for Underground Utility and Infrastructure Solutions was $81.59 million, which also fell short of the average estimate of $93.01 million [6] - The operating loss for Corporate and non-allocated costs was -$200.94 million, worse than the estimated loss of -$174.27 million [7] - Operating income for Renewable Energy Infrastructure Solutions was $162.72 million, surpassing the average estimate of $132.08 million [7] Market Performance - Quanta Services' shares have returned +4.2% over the past month, outperforming the Zacks S&P 500 composite's +1.1% change [7] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [7]

Quanta Services (PWR) came out with quarterly earnings of $1.90 per share, missing the Zacks Consensus Estimate of $1.93 per share. This compares to earnings of $1.65 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -1.55%. A quarter ago, it was expected that this specialty contractor for utility and energy companies would post earnings of $1.26 per share when it actually produced earnings of $1.41, delivering a surprise of 11 ...

Second Quarter Consolidated Revenues of $5.59 Billion* Second Quarter GAAP Diluted EPS of $1.26* and Adjusted Diluted EPS of $1.90* Net Income Attributable to Common Stock of $188.2 Million* and Adjusted EBITDA of $523.2 Million* Year-to-Date Cash Flow From Operations of $629.3 Million and Free Cash Flow of $439.8 Million Remaining Performance Obligations of $14.4 Billion* and Total Backlog of $31.3 Billion* Updating Full-Year 2024 Financial Expectations for the Expected Contribution of Cupertino Electric * ...

Quanta Services, Inc. (PWR) is scheduled to report second-quarter 2024 results on Aug 1, before the opening bell. In the last reported quarter, the company's adjusted earnings per share (EPS) and revenues surpassed the Zacks Consensus Estimate by 11.9% and 1.5%, respectively. On a year-over-year basis, total revenues increased 13.6%, and EPS grew 13.7%. Encouragingly, earnings topped analysts' expectations in 19 of the trailing 20 quarters. Trend in Estimate Revision The Zacks Consensus Estimate for second- ...

Wall Street analysts expect Quanta Services (PWR) to post quarterly earnings of $1.93 per share in its upcoming report, which indicates a year-over-year increase of 17%. Revenues are expected to be $5.51 billion, up 9.2% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 0.6% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe. Prior to a company's ...

The most recent trading session ended with Quanta Services (PWR) standing at $264.46, reflecting a -1.21% shift from the previouse trading day's closing. This change lagged the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.14%, while the tech-heavy Nasdaq lost 0.06%. The specialty contractor for utility and energy companies's shares have seen a decrease of 2.38% over the last month, not keeping up with the Construction sector's gain of 7.48% and the S&P 500's gain of 1.96%. The investment communi ...

What: Quanta Services Second Quarter 2024 Earnings Conference Call When:Thursday, August 1, 2024 – 9:00 a.m. Eastern time How: Live via phone – By dialing (201) 689-8345 or (877) 407-8291 and asking for the Quanta Services Second Quarter 2024 Earnings Conference Call at least 10 minutes prior to the start time. Live via webcast – By logging on to the website through the Investor Relations section of Quanta's website (http://investors.quantaservices.com) For those who cannot participate live, an archive of t ...