Quanta Services (PWR) Reports Q2 Earnings: What Key Metrics Have to Say

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]