Quanta Services (PWR) Surpasses Q2 Earnings and Revenue Estimates

Core Insights - Quanta Services reported quarterly earnings of $2.48 per share, exceeding the Zacks Consensus Estimate of $2.43 per share, and showing an increase from $1.90 per share a year ago [1][2] - The company achieved revenues of $6.77 billion for the quarter, surpassing the Zacks Consensus Estimate by 3.34%, and up from $5.59 billion year-over-year [3] - Quanta Services has consistently outperformed earnings estimates, surpassing consensus EPS estimates in all four of the last quarters [2][3] Earnings Performance - The earnings surprise for the latest quarter was +2.06%, while the previous quarter had a surprise of +7.23% [2] - The current consensus EPS estimate for the upcoming quarter is $3.16, with expected revenues of $7.21 billion, and for the current fiscal year, the EPS estimate is $10.32 on revenues of $27.04 billion [8] Stock Performance - Quanta Services shares have increased by approximately 30.1% since the beginning of the year, significantly outperforming the S&P 500's gain of 8.2% [4] - The stock currently holds a Zacks Rank of 3 (Hold), indicating expected performance in line with the market in the near future [7] Industry Outlook - Quanta Services operates within the Zacks Engineering - R and D Services industry, which is currently ranked in the top 35% of over 250 Zacks industries [9] - The industry’s performance can significantly influence the stock's performance, with research indicating that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [9]