Operations and Workforce - The company operates a fleet of approximately 70,000 units of owned and leased equipment as of December 31, 2021[36]. - As of December 31, 2021, the company employed approximately 43,700 individuals, including 8,600 salaried and 35,100 hourly employees[46]. - Approximately 35% of the company's employees were covered by collective bargaining agreements as of December 31, 2021[46]. - The company is facing a shortage of skilled labor, particularly journeyman linemen, which may affect its ability to meet demand[51]. - Strategic relationships have been established with universities, military, and unions to attract potential employees and develop the workforce, utilizing various apprenticeship programs[53]. - The company operates Northwest Lineman College, providing training programs for the electric power infrastructure and related industries, focusing on pre-apprenticeship and specialized utility task training[52]. Market and Competition - The company anticipates that competition may lessen as industry resources approach capacity, but there is no assurance that competitors will not develop superior services[34]. - The company believes that its ability to provide a broad spectrum of services is a significant differentiator in a competitive market[33]. Financial Risks and Management - The company is subject to credit risk related to customer receivables, with potential nonpayment heightened by economic conditions, particularly in the energy market[334]. - The company maintains a diversified portfolio of cash and cash equivalents managed by high credit quality financial institutions, mitigating material risk of loss[333]. - As of December 31, 2021, the fair value of the company's variable rate debt was approximately $1.20 billion, with a weighted average interest rate of 1.9%[335]. - A hypothetical 50 basis point increase or decrease in variable interest rates would impact pretax earnings by approximately $6.0 million based on the December 31, 2021 balance of variable rate debt[335]. Revenue and Foreign Operations - Revenues from foreign operations accounted for 14.7% of consolidated revenues in 2021, with fluctuations in foreign exchange rates resulting in an increase of approximately $114 million in foreign revenues compared to 2020[337]. - Foreign operating income increased by approximately $4 million due to foreign exchange fluctuations in 2021 compared to 2020[337]. - The company had no outstanding foreign currency derivative contracts as of December 31, 2021, to hedge foreign currency risk[338]. - An assumed 5% adverse change in foreign exchange rates would result in a fair value decline of $0.8 million based on cash and cash equivalents in foreign banks of $23.3 million as of December 31, 2021[339]. Environmental and Safety Considerations - The company considers climate-related risks and opportunities in its long-term strategic planning, with operational challenges arising from severe weather events and climate change[60]. - Increased demand for renewable energy infrastructure services is anticipated due to the transition to a carbon-neutral economy, supported by the acquisition of Blattner[63]. - The company has decreased focus on certain pipeline projects due to environmental concerns, while exploring opportunities related to safety and environmental initiatives[64]. - Insurance coverage for wildfire-related events has decreased, increasing overall risk exposure and potentially impacting financial results[69]. Operational Challenges - The company has experienced delays and cancellations in vehicle delivery orders due to a worldwide shortage of semiconductors[37]. - Seasonal variations typically result in the lowest revenues in the first quarter due to adverse weather conditions[41]. - The company has implemented additional safety protocols during the COVID-19 pandemic, ensuring minimal impact on workforce availability[49]. - The company faces risks related to labor shortages and increased labor costs, which may impact its ability to manage decentralized operations and grow[56]. Compensation and Performance - Compensation programs are designed to align with market practices and performance, including both fixed and variable components, with stock-based compensation granted broadly[57].

Quanta Services, Inc. (NYSE:PWR) Q4 2021 Earnings Conference Call February 24, 2022 9:00 AM ET Company Participants Kip Rupp - VP of IR Duke Austin - President and CEO Derrick Jensen - CFO Conference Call Participants Michael Dudas - Vertical Research Justin Hauke - Baird Sean Eastman - KeyBanc Capital Markets Jamie Cook - Credit Suisse Neil Mehta - Goldman Sachs Adam Thalhimer - Thompson, Davis Ian MacPherson - Piper Sandler Steven Fisher - UBS Alex Rigel - B. Riley FBR Noelle Dilts - Stifel Gus Richard - ...

Investor Presentation December 7, 2021 Repeatable. Sustainable. RESILIENT NOTICE TO INVESTORS This presentation (and oral statements regarding the subject matter of this presentation) includes forward-looking statements intended to qualify under the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include any statements reflecting Quanta's expectations, intentions, strategies, assumptions, plans or beliefs about future events ...

Financial Highlights - Quanta achieved record third-quarter consolidated revenues[23] - The company reported solid revenue of $3.4 billion[8] - Adjusted EBITDA reached $366.9 million[8] - Adjusted EPS was $1.48[8] Backlog and Growth - Record backlog of $17 billion reflects collaboration with customers and favorable market dynamics[7] - Total backlog at the end of the third quarter is 13% higher than both backlog at year-end and at the end of the third quarter of 2020[29] - 12-month backlog reached $9.8 billion[27] Segment Performance - Electric Power Infrastructure Solutions revenue increased by 10%[22] - Underground Utility & Infrastructure Solutions revenue increased by 12%[22] Guidance - The company provides revenue guidance of $12.55 billion to $12.85 billion[46] - Adjusted EBITDA guidance is $1.212 billion to $1.261 billion[46]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021. or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-13831 Quanta Services, Inc. (Exact name of registrant as specified in its charter) Delaware 74-2851603 (State or other j ...

Quanta Services, Inc. (NYSE:PWR) Q3 Earnings Conference Call November 4, 2021 9:00 AM ET Company Participants Duke Austin – CEO Kip Rupp – Investor Relations Derrick Jensen – CFO Conference Call Participants Chad Dillard – Bernstein Alex Rygiel – B. Riley Sean Eastman – KeyBanc Neil Mehta – Goldman Sachs Jamie Cook – Credit Suisse Marc Bianchi – Cowen Noelle Dilts – Stifle Brent Thielman – D.A. Davidson Adam Thalhimer – Thompson David, Ian Macpherson – Piper Sandler Andy Kaplowitz – Citigroup Michael Dudas ...

Quanta Services Blattner Acquisition Conference Call Summary Company and Industry Overview - **Company**: Quanta Services, Inc. (NYSE:PWR) - **Acquisition Target**: Blattner Holding Company - **Industry**: Renewable Energy Infrastructure Solutions Key Points and Arguments 1. **Acquisition Announcement**: Quanta Services announced its intention to acquire Blattner Holding Company, a leading utility-scale renewable solution provider in North America, to enhance its position in the renewable energy market [9][10]. 2. **Strategic Fit**: Blattner's focus on safety, operational excellence, and established customer relationships aligns with Quanta's strategic goals, positioning the combined entity to facilitate North America's energy transition to a carbon-neutral economy [10][11]. 3. **Market Growth**: The acquisition is expected to place Quanta at the forefront of significant long-term growth in the renewable energy market, driven by increasing electrification trends and supportive public policies [10][13]. 4. **Financial Impact**: The transaction is anticipated to be immediately accretive to Quanta's earnings, growth, margin, and free cash flow, with Blattner expected to contribute approximately $2.4 billion in revenue for 2020 [10][20]. 5. **Revenue and EBITDA Projections**: For 2021, Blattner is expected to generate revenues between $2.5 billion and $2.7 billion, with adjusted EBITDA between $250 million and $290 million [25][26]. 6. **Long-term Growth Expectations**: Quanta expects Blattner to deliver double-digit revenue and EBITDA growth over the long term, enhancing Quanta's ability to achieve double-digit earnings per share growth [26][27]. 7. **Cultural Alignment**: Both companies share a similar entrepreneurial mindset and focus on safety, quality, and customer service, which is expected to facilitate a smooth integration process [11][28]. 8. **Operational Excellence**: Blattner's operational capabilities, including self-performing most of its work, help manage risk and ensure quality, which is crucial for maintaining customer trust and satisfaction [12][16]. 9. **Market Position**: Blattner has installed over 62 gigawatts of renewable energy capacity across more than 400 projects, demonstrating its strong market presence and operational capabilities [14][15]. 10. **Backlog and Revenue Streams**: Blattner's backlog is characterized by long-term relationships with clients, providing visibility into future revenue streams and reducing execution risk [31][57]. Additional Important Insights 1. **Financial Structure of the Deal**: The acquisition involves upfront consideration of approximately $2.7 billion, consisting of $2.36 billion in cash and 3.3 million shares of Quanta common stock valued at approximately $340 million [20][21]. 2. **Regulatory Approval**: The transaction is expected to close in the fourth quarter of 2021, pending regulatory approvals [21]. 3. **Customer Concentration**: Blattner's revenue is somewhat concentrated, with 10 to 12 customers representing the majority of its revenue, but it maintains strong repeat business relationships [72]. 4. **Market Dynamics**: The renewable energy market is shifting, with expectations of increased demand for solar and energy storage solutions, although there are risks related to supply chain disruptions [24][40]. 5. **Learning Curve in New Markets**: Blattner is recognized as a leader in the renewable energy space, particularly in solar and wind, and is expected to leverage its expertise in energy storage as the market evolves [81]. This summary encapsulates the critical aspects of the Quanta Services Blattner Acquisition Conference Call, highlighting the strategic rationale, financial implications, and market dynamics surrounding the acquisition.

Financial Performance - Consolidated revenues increased by 19.7%, or $493.6 million, to $3.00 billion for the three months ended June 30, 2021, compared to $2.51 billion for the same period in 2020[179]. - Operating income rose by 43.2%, or $48.7 million, to $161.7 million, with net income attributable to common stock increasing by 58.3%, or $43.1 million, to $117.0 million[179]. - EBITDA increased by 35.3%, or $66.4 million, to $254.4 million, while adjusted EBITDA rose by 31.3%, or $67.1 million, to $281.3 million[179]. - Revenues for the three months ended June 30, 2021, increased by $493.6 million (19.7%) to $2,999.8 million compared to $2,506.2 million in the same period of 2020[215]. - Gross profit for the three months ended June 30, 2021, rose by $92.4 million (26.0%) to $447.7 million, driven by increased revenues and improved utilization[217]. - Net income attributable to common stock for the three months ended June 30, 2021, increased by $43.1 million (58.3%) to $117.0 million compared to $73.9 million in the same period of 2020[215]. - Consolidated revenues for the six months ended June 30, 2021, increased by $433.1 million (8.2%) to $5,703.4 million compared to $5,270.3 million in the same period of 2020[229]. - Net income for the six months ended June 30, 2021, increased by $94.0 million (80.8%) to $210.3 million compared to $116.3 million in the same period of 2020[229]. - Consolidated operating income for the six months ended June 30, 2021, increased by 42.2% to $275.4 million compared to $193.7 million in 2020[251]. - EBITDA for the six months ended June 30, 2021, was $455.2 million, up from $328.4 million in 2020, while adjusted EBITDA increased to $501.5 million from $376.9 million[262]. Market Conditions - Utilities are investing significantly in electric power delivery systems, with multi-year, multi-billion dollar grid modernization programs driving demand for services[189]. - Demand for electricity in North America is expected to grow long-term, with increasing electrification trends and renewable energy generation facilities anticipated[191]. - The overall energy market conditions have negatively impacted services to downstream industrial energy customers, leading to a decline in global demand for refined products during 2020 and into 2021[195]. - Revenues related to larger pipeline projects have significantly declined due to regulatory delays and market challenges, with a notable example being a terminated 600-mile natural gas pipeline project in 2020[196]. - Natural gas is expected to remain a preferred fuel for power generation in North America, positioning the U.S. as a competitive player in the global LNG export market[198]. - Regulatory and permitting delays have created uncertainty and negatively impacted customer spending, particularly for larger electric transmission and pipeline projects[199]. Operational Strategy - The company has reoriented its communications service offerings to focus on the North American market, exiting Latin American operations to improve profitability[192]. - The company is focusing on underground utility and infrastructure solutions, which are driven by regulated utility spending and provide greater business sustainability[197]. - The company is addressing long-term labor resource needs through strategic partnerships and training initiatives, as demand for skilled labor may outpace supply[201]. - Potential acquisition and investment opportunities exist due to the fragmented nature of the industry, aimed at broadening the customer base and expanding geographic operations[203]. Financial Management - The company expects capital expenditures for 2021 to be approximately $325 million, maintaining capital discipline amid market dynamics[184]. - As of June 30, 2021, total available commitments under the senior credit facility and cash and cash equivalents amounted to $2.1 billion, providing sufficient liquidity for ongoing operations[271]. - The company anticipates that cash flows from operations and existing borrowing capacity will be sufficient to fund ongoing operating needs and strategic investments throughout 2021[268]. - The company repurchased 314,000 shares of common stock for $29.4 million during the three months ended June 30, 2021, and has an additional $489.6 million authorized for repurchases through June 30, 2023[283]. - The company issued $1.00 billion in senior notes in September 2020, with a maturity date of October 1, 2030, and an interest payment of $14.5 million due semi-annually[286]. Tax and Regulatory Matters - The effective tax rate for the three months ended June 30, 2021, was 25.6%, down from 30.6% in the same period of 2020, primarily due to changes in the mix of earnings across jurisdictions[226]. - The effective tax rate for the six months ended June 30, 2021, was 20.6%, down from 29.7% in 2020, primarily due to an $18.4 million tax benefit from equity incentive awards[239]. - The total amount of unrecognized tax benefits relating to uncertain tax positions was $39.1 million as of June 30, 2021, with a potential decrease of up to $13.3 million expected within the next 12 months[307]. Cash Flow and Working Capital - Net cash provided by operating activities for the six months ended June 30, 2021, was $314.6 million, compared to $725.0 million in 2020, indicating a decrease in cash flow generation[272]. - Net cash provided by operating activities for the six months ended June 30, 2021, was negatively impacted by increased working capital requirements, particularly due to two larger electric transmission projects in Canada[274]. - Days sales outstanding (DSO) as of June 30, 2021, was 83 days, slightly higher than 82 days on June 30, 2020, primarily due to increased working capital needs[276]. - Net cash used in investing activities for the six months ended June 30, 2021, included $158.4 million in capital expenditures and $114.3 million for equity and other investments[277]. Performance Obligations and Backlog - Remaining performance obligations increased by 11.1%, or $441.8 million, to $4.43 billion as of June 30, 2021, compared to $3.99 billion as of December 31, 2020[179]. - Total backlog increased by 12.2%, or $1.85 billion, to $16.98 billion as of June 30, 2021, compared to $15.13 billion as of December 31, 2020[179]. - MSAs accounted for 64% of the estimated 12-month backlog as of June 30, 2021, indicating a stable revenue stream from long-term contracts[266]. - Total remaining performance obligations as of June 30, 2021, were $3.4 billion, with a total backlog of $9.0 billion, indicating strong future revenue potential[267].

Second Quarter 2021 Earnings Call Presentation August 5, 2021 QUANTA Notice to Investors This presentation (and oral statements regarding the subject matter of this presentation) includes forward-looking statements intended to qualify under the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include any statements reflecting Quanta's expectations, intentions, strategies, assumptions, plans or beliefs about future events or pe ...

Quanta Services, Inc. (NYSE:PWR) Q2 2021 Earnings Conference Call August 5, 2021 9:00 AM ET Company Participants Kip Rupp - VP, IR Earl Austin - President, CEO, COO & Director Derrick Jensen - CFO Conference Call Participants Chad Dillard - Sanford C. Bernstein & Co. Sean Eastman - KeyBanc Capital Markets Jamie Cook - Crédit Suisse Ian MacPherson - Piper Sandler & Co. Noelle Dilts - Stifel, Nicolaus & Company Steven Fisher - UBS Marc Bianchi - Cowen and Company Michael Dudas - Vertical Research Partners Ada ...