Free Post Earnings Research Report: Quanta’s Quarterly Revenues Advanced 18%; EPS Surged 26%

LONDON, UK / ACCESSWIRE / April 6, 2018 / Active-Investors.com has just released a free earnings report on Quanta Services, Inc. (NYSE: PWR) (“Quanta”). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=PWR. The Company reported its fourth quarter fiscal 2017 and the full fiscal year 2017 operating and financial results on February 22, 2018. The specialty contractor for utility and energy companies outperformed top- and bottom-line expectations, and also recorded an all-time high backlog. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Quanta Services most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the fourth quarter of the fiscal year 2017, Quanta’s revenues were $2.48 billion, up 18% compared to $2.10 billion in Q4 2016. The Company’s revenue numbers beat analysts’ estimates of $2.34 billion.

For Q4 2017, Quanta reported a net income from continuing operations attributable to common stockholders of $113.6 million, or $0.72 per diluted share, compared to $88.5 million, or $0.57 per diluted share, in Q4 2016. The Company’s reported quarter results were favorably impacted by an estimated net tax benefit $0.44 per diluted share, associated with the enactment of the Tax Cuts and Jobs Act 2017 (TCJA) on December 22, 2017; and also by other one-time tax benefits of $0.11 per diluted share, primarily related to entity restructuring and recapitalization efforts. However, the results for Q4 2017 were negatively impacted by goodwill and intangible asset impairments of $0.23 per diluted share.

Quanta’s adjusted earnings attributable to common stockholders were $0.45 per diluted share in Q4 2017 compared to $0.56 in Q4 2016. The Company’s earnings numbers beat Wall Street’s estimates of $0.44 per share.

For the full fiscal year ended December 31, 2017, Quanta’s revenues were $9.47 billion, up 24% compared to $7.65 billion in FY16.

For FY17, Quanta’s net income from continuing operations attributable to common stockholders was $315.0 million, or $2.00 per diluted share, compared to $198.7 million, or $1.26 per diluted share, in FY16. The Company’s adjusted earnings attributable to common stockholders were $1.97 per diluted share in FY17 compared to $1.51 in FY16.

Segment Results

During Q4 2017, Quanta’s Electric Power segment’s revenues increased 22.8% to $1.57 billion on a y-o-y basis; primarily due to a higher customer spending associated with electric transmission projects, and, to a lesser extent, due to additional emergency restoration services revenues of $16.9 million. The segment’s operating margin increased to 9.9% in the reported quarter compared to 8.9% in the year-ago same period. This increase was primarily due to higher segment revenues, as well as a favorable execution across the Company’s broader work. The segment’s total backlog was $7.4 billion at the end of Q4 2017, incrementally stronger and reflecting an increase of 11% on a y-o-y basis.

For Q4 2017, Quanta’s Oil & Gas segment’s revenues increased 10.1% to $903.8 million on a y-o-y basis, primarily attributable to incremental revenues from the acquisition of Stronghold, partially offset by a decrease in revenues on larger pipeline transmission projects. The segment’s operating margin decreased to 2.1% in the reported quarter from 8.1% in the prior year’s comparable quarter. This decrease was due to the significantly lower contribution of larger pipeline transmission revenues; lower margins on certain distribution work; impacts from the temporary suspension, or deferral of projects, as a result of Hurricane Harvey; as well as some degree of seasonality and project performance.

As of December 31, 2017, the Oil & Gas segment’s 12-month backlog was $2.4 billion, which was an increase of 5.7% compared to September 30, 2017.

Cash Matters

During Q4 2017, Quanta’s cash flows provided by operating activities were $198 million. The Company’s reported quarter operating cash flows contributed to $372 million in total cash flows from operating activities for FY17. Quanta’s net capital expenditure of approximately $221 million in FY17, resulted in approximately $151 million of full-year free cash flow compared to approximately $200 million for FY16.

At December 31, 2017, Quanta had $138 million in cash; $413 million of letters of credit and bank guarantees outstanding; and $668 million of borrowings outstanding under its credit facility, leaving the Company with $867 million in total liquidity as of December 31, 2017.

Backlog

At December 31, 2017, Quanta’s consolidated 12-month backlog was approximately $6.4 billion, and total backlog was $11.2 billion, both of which were at record levels.

Outlook

For the full fiscal year 2018, Quanta is forecasting revenues to range between $9.75 billion and $10.25 billion. Quanta expects diluted earnings per diluted share to be between $1.95 to $2.35, and adjusted earnings per diluted share to be between $2.40 to $2.80 for FY18.

Stock Performance Snapshot

April 05, 2018 – At Thursday’s closing bell, Quanta Services’ stock marginally advanced 0.26%, ending the trading session at $34.60.

Volume traded for the day: 875.61 thousand shares.

After yesterday’s close, Quanta Services’ market cap was at $5.28 billion.

Price to Earnings (P/E) ratio was at 22.29.

The stock is part of the Industrial Goods sector, categorized under the General Contractors industry. This sector was up 1.2% at the end of the session.

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