QUANTA SERVICES REPORTS FOURTH QUARTER AND FULL-YEAR 2024 RESULTS

Core Insights - Quanta Services, Inc. reported strong financial results for Q4 2024, with revenues of $6.55 billion, a 13.3$5.78 billion in Q4 2023, and net income of $305.1 million, or$2.03 per diluted share, compared to $210.9 million, or$1.42 per diluted share, in the same period last year [1][4][7] - The company achieved record annual revenues of $23.67 billion for 2024, up from$20.88 billion in 2023, with adjusted diluted earnings per share increasing to $8.97 from$7.16 [4][7] - Quanta expects continued growth in 2025, projecting revenues between $26.60 billion and$27.10 billion, with net income ranging from $1.04 billion to$1.13 billion, and adjusted EBITDA between $2.66 billion and$2.80 billion [10][8] Financial Performance - Q4 2024 adjusted diluted earnings per share was $2.94, up from$2.04 in Q4 2023, reflecting strong operational performance [1][4] - Full-year 2024 adjusted EBITDA reached $2.33 billion, compared to$1.92 billion in 2023, indicating a robust operational efficiency [4][7] - The company generated $575 million in free cash flow in Q4 2024, contributing to a solid balance sheet [2][4] Market Position and Strategy - Quanta is positioned as a leader in the power and infrastructure solutions industry, benefiting from increasing demand for energy and technology infrastructure [3][2] - The company completed eight acquisitions in 2024, enhancing its service offerings and market reach [3][8] - Quanta's total backlog reached$34.54 billion, with remaining performance obligations of $16.76 billion, indicating strong future revenue visibility [4][30] Segment Performance - The Electric Power Infrastructure Solutions segment generated revenues of$3.41 billion in Q4 2024, with an operating margin of 13.1%, up from 10.5% in Q4 2023 [26][25] - The Renewable Energy Infrastructure Solutions segment reported revenues of $1.98 billion in Q4 2024, with a margin of 10.5$1.17 billion in Q4 2024, with a margin of 3.6%, down from 6.6% in Q4 2023 [26][25] Future Outlook - The company anticipates double-digit growth in revenue, adjusted EBITDA, and earnings per share for 2025, supported by a strong backlog and market demand [3][10] - Quanta's strategic focus includes expanding its total addressable market and reinforcing its leadership in essential infrastructure solutions [3][2] - The company plans to continue its capital deployment strategy, including acquisitions and stock repurchase programs, to enhance shareholder value [11][10]