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Quanta Services, Inc. (NYSE: PWR) is a premier provider of specialty contracting services, delivering a comprehensive range of infrastructure solutions for the electric power, oil and gas, and communication industries across the United States, Canada, Australia, and other international markets. Headquartered in Houston, Texas, Quanta Services operates under three primary segments: Electric Power Infrastructure Solutions, Renewable Energy Infrastructure Solutions, and Underground Utility and Infrastructure Solutions.
Quanta's core services include engineering, procurement, and construction (EPC) services, focusing on the design, installation, maintenance, and repair of critical infrastructure. The company is renowned for its expertise in electric power transmission and distribution, renewable energy projects like wind and solar, and complex pipeline and facilities construction for the oil and gas sector.
In 2021, Quanta acquired Blattner Company, a leader in renewable energy EPC services, significantly bolstering its capabilities in the renewable energy sector. This strategic acquisition has enabled Quanta to expand its service offerings and strengthen its market position in the renewable energy industry.
Quanta Services has a strong financial track record, consistently delivering robust revenue growth and profitability. In the second quarter of 2023, Quanta reported record revenues of $5.05 billion, up from $4.23 billion in the same quarter of 2022, and net income attributable to common stock of $165.9 million, or $1.12 per diluted share, compared to $88.0 million, or $0.59 per diluted share, in the second quarter of 2022. The company’s total backlog reached a record $27.20 billion, reflecting strong demand for its services driven by the modernization and hardening of utility infrastructure and the growing focus on renewable energy generation.
Quanta continues to invest in its future growth through employee safety and training programs, expansion of front-end services, and strategic supply chain initiatives. The company’s strategic approach and financial strength position it well to drive stockholder value through organic growth and targeted acquisitions.
Recent achievements include the strategic acquisition of Pennsylvania Transformer Technology, LLC, enhancing Quanta’s capabilities in manufacturing power transformers and components, crucial for the evolving energy market. Quanta’s leadership in providing integrated infrastructure solutions ensures its significance in the ongoing energy transition and infrastructure modernization efforts.
Quanta Services, Inc. (PWR) reported strong financial results for Q4 and full-year 2022, with revenues of $4.42 billion in Q4 and $17.07 billion for the year, both record highs. Net income for Q4 was $162.6 million, marking a significant increase from $104.8 million in Q4 2021. The company anticipates continued growth in 2023, targeting double-digit growth in net income, adjusted EBITDA, and cash flow. Despite a robust backlog of $24.09 billion, potential risks include economic uncertainties, supply chain challenges, and regulatory hurdles. Notably, Quanta has also announced multiple infrastructure projects poised to contribute to future growth.
Quanta Services (NYSE: PWR) celebrates its 25-year listing anniversary on the New York Stock Exchange by ringing The Closing Bell on February 9, 2023. Founded to enhance the nation's energy infrastructure, Quanta has grown over 100 times since its IPO in February 1998. CEO Duke Austin expressed confidence in the company’s potential for multi-year revenue and double-digit earnings per share growth, driven by support for customer programs and the energy transition. The event emphasizes Quanta’s role as a leading infrastructure provider in the utilities and energy sectors, supported by a dedicated workforce of approximately 50,000 employees.
Quanta Services, Inc. (NYSE: PWR) will announce its fourth quarter and full-year 2022 financial results on February 23, 2023, prior to market opening. A conference call is scheduled for 9:00 a.m. Eastern time on the same day, featuring a slide presentation available through their Investor Relations. Participants can join via phone or webcast. An archive of the call will be accessible on the company's website shortly after the event. Quanta is a leader in providing specialized infrastructure solutions across various industries, including utility and renewable energy.
Quanta Services (NYSE: PWR) has been chosen by Xcel Energy for the Colorado's Power Pathway project, which aims to enhance Colorado's electric transmission infrastructure. This multi-year initiative, expected to run through 2027, involves constructing around 610 miles of 345 kV transmission lines, four new substations, and expanding four existing ones. The project will support approximately 5,500 megawatts of renewable energy resources. Revenue from this project will be reflected in Quanta's backlog for Q4 2022.
Quanta Services (NYSE: PWR) has declared a quarterly cash dividend of $0.08 per share, marking an approximate 14% increase from the previous dividend. This annualizes to $0.32. The dividend will be paid on January 13, 2023, to stockholders of record as of January 3, 2023. This move reflects Quanta's commitment to returning value to its shareholders amidst a stable business outlook.
Quanta Services reported third-quarter revenues of $4.46 billion, up from $3.35 billion YoY. Net income was $156.0 million ($1.06 per diluted share), down from $174.4 million ($1.21 per diluted share) in Q3 2021. Adjusted diluted EPS rose to $1.77 from $1.48. The company has a total backlog of $20.9 billion and remaining performance obligations of $6.8 billion. Despite challenges from weather, inflation, and supply chain issues, Quanta confidently reaffirms its full-year 2022 outlook, aiming for multi-year revenue and earnings growth.
Quanta Services, Inc. (NYSE:PWR) announced its participation in two major investor conferences: the Baird Global Industrial Conference on Nov. 9, 2022 and the Credit Suisse Global Industrials Conference on Dec. 1, 2022. At both events, CEO Duke Austin and CFO Jayshree Desai will engage with institutional investors and participate in fireside chats. The Credit Suisse event will include a live webcast at 11:45 a.m. Eastern time. For further details, visit their Investor Relations page.
Quanta Services, Inc. (NYSE: PWR) will release its third quarter 2022 financial results on November 3, 2022, before the market opens. A conference call is scheduled for 9:00 a.m. Eastern time the same day, featuring a slide presentation accessible via the company's Investor Relations website. For those unable to attend live, a replay of the webcast will be available following the event.
J.W. Didado Electric has entered into a teaming agreement with Newpoint Gas for the redevelopment of the former U.S. Department of Energy’s Portsmouth Gaseous Diffusion Plant into a hydrogen generation facility. The $1.5 billion h2TEAM project aims to create approximately 2,900 jobs during construction and produce clean silicon, ammonia, and power. This initiative aligns with Quanta Services' commitment to clean energy, enhancing local employment and economic growth in Pike County, Ohio, while pursuing part of an $8 billion Department of Energy Hydrogen Hub grant.
Quanta Services, Inc. (NYSE: PWR) has announced a quarterly cash dividend of $0.07 per share, set to be paid on October 14, 2022. Stockholders must be on record by October 3, 2022 to qualify for this dividend. This decision reflects the company's ongoing commitment to return value to its shareholders while maintaining liquidity for further investments. Quanta offers specialized contracting services across various sectors including utility, renewable energy, and communications.
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