Quanta Services - PWR STOCK NEWS

Quanta Services (NYSE:PWR) will participate in the Credit Suisse Virtual Industrials Conference on December 3, 2020, featuring CEO Duke Austin and CFO Derrick Jensen. They will engage with institutional investors and partake in a live fireside chat at 11:30 a.m. Eastern. The session will be broadcast online and available for replay via the Investors & Media section of Quanta's website. Quanta Services offers specialized contracting services across various industries in the U.S., Canada, Australia, and beyond.

Quanta Services reported Q3 2020 revenues of $3.02 billion, down from $3.35 billion in Q3 2019, with net income attributable to common stock rising to $162.9 million ($1.13 per diluted share). Adjusted diluted EPS increased to $1.40, up from $1.14 a year earlier. The company has made three strategic acquisitions and signed a contract for the New England Clean Energy Connect project. Despite the impact of COVID-19 on LATAM operations, which incurred a loss of $15.4 million, Quanta remains optimistic about future growth driven by strong market demand and operational resilience.

Quanta Services, Inc. (NYSE: PWR) will report its third quarter 2020 financial results on October 29, 2020, before market open. A conference call is scheduled for 9:00 a.m. Eastern time on the same day, accessible via phone or online. Detailed earnings will be available on Quanta's Investor Relations website, alongside a slide presentation. The company provides specialized contracting services for utility, pipeline, energy, and communications sectors, with operations spanning the United States, Canada, Australia, and internationally.

Quanta Services (NYSE:PWR) closed a $1.0 billion offering of 2.9% senior notes due 2030, netting approximately $986.7 million. Proceeds will repay term loans, while the credit agreement was amended to raise revolving commitments from $2.135 billion to $2.510 billion, extending maturity to September 22, 2025. The company highlighted its investment-grade credit rating, enhanced capital structure, and positive outlook. This offering is seen as beneficial for Quanta's long-term financial health and sustainability.

Quanta Services (NYSE:PWR) has announced the pricing of its $1.0 billion offering of 2.900% senior notes due 2030, expected to close on September 22, 2020. The notes received investment-grade ratings of BBB- from S&P and Baa3 from Moody's. Proceeds will be utilized to repay existing term loans, supported by cash on hand or credit facilities. The offering involves an effective shelf registration statement and will be managed by BofA Securities, Wells Fargo, J.P. Morgan, PNC Capital Markets, and Truist Securities.

Quanta Services, Inc. (NYSE:PWR) has declared a quarterly cash dividend of $0.05 per share, payable on October 15, 2020, to stockholders of record on October 1, 2020. This move indicates the company's commitment to return value to its shareholders amidst the ongoing challenges posed by the COVID-19 pandemic. Quanta is a leader in specialized contracting services, providing infrastructure solutions across various industries globally.

Quanta Services (NYSE:PWR) announced a new stock repurchase program, authorizing up to $500 million in share buybacks until June 30, 2023. This program supplements the remaining $87 million from a prior program, through which the company repurchased around 13 million shares for $413 million. Since mid-2014, Quanta has spent approximately $2.4 billion to repurchase 93.3 million shares, representing 43% of its outstanding stock. The initiative emphasizes management's confidence in the company's growth and aims to enhance shareholder value.

Quanta Services reported Q2 2020 revenues of $2.51 billion, down from $2.84 billion in Q2 2019. Net income increased to $73.9 million ($0.52/share), compared to $27.3 million ($0.19/share) a year earlier. Adjusted EPS rose to $0.74 from $0.31. The company authorized a new $500 million stock repurchase program. The selection of its joint venture, LUMA Energy, for a significant 15-year agreement in Puerto Rico emphasizes its operational strengths. However, LATAM operations incurred losses of $15.2 million, partly due to COVID-19. The long-term outlook remains positive despite current challenges.

Quanta Services, Inc. (NYSE: PWR) will release its second quarter 2020 financial results on August 6, 2020, before the market opens. A conference call is scheduled for 9:00 a.m. Eastern time on the same day, which will also be available via webcast. Interested participants can access the call by dialing (201) 689-8345 or (877) 407-8291, or through the Investor Relations section of Quanta's website. An archive of the webcast will be available post-call. Quanta specializes in infrastructure solutions for utility, pipeline, energy, and communications industries.