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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. reported record second-quarter revenues of $4.23 billion, a significant increase from $3.00 billion in Q2 2021. Despite a decrease in net income to $88.0 million and diluted EPS of $0.59, adjusted diluted EPS rose to $1.54. The company holds a $19.9 billion total backlog and affirms full-year 2022 financial expectations. Highlights include winning a contract for a national EV fast charging network, and a $368.4 million share repurchase authorization. Investors should note potential risks from economic uncertainties and supply chain issues.
Quanta Services, Inc. (NYSE: PWR) will release its second quarter 2022 financial results on August 4, 2022, before market opening. A conference call is scheduled for 9:00 a.m. Eastern time on the same day, which can be accessed via phone or webcast. The company provides comprehensive infrastructure solutions across various sectors, including utility and renewable energy. More details regarding the earnings call and a presentation will be available on its Investor Relations website.
Quanta Services, Inc. (NYSE:PWR) has appointed Scott Rowe to its Board of Directors, enhancing its leadership team with his extensive operations and financial experience in the energy sector. Rowe has been the President and CEO of Flowserve Corporation since April 2017 and has previous roles at Schlumberger and Cameron International. His appointment aims to bring new perspectives to Quanta's board. David McClanahan, the independent Chairman, expressed enthusiasm for Rowe's contributions to the company's growth.
Quanta Services, Inc. (NYSE: PWR) has declared a quarterly cash dividend of $0.07 per share, payable on July 15, 2022, to stockholders recorded as of July 1, 2022. This announcement reflects Quanta's ongoing commitment to return value to its shareholders while maintaining its position as a leader in specialized contracting services across utility, renewable energy, communications, and pipeline sectors. The company operates in various regions including the United States, Canada, and Australia, providing comprehensive infrastructure solutions.
Quanta Services, Inc. (NYSE: PWR) will engage with institutional investors at four major conferences in June 2022: the KeyBanc Capital Markets Industrials & Basic Materials Conference on June 1, the Bernstein Strategic Decisions Conference on June 2, the Baird Global Consumer, Technology & Services Conference on June 7, and the Stifel Cross Sector Insight Conference on June 8. CEO Duke Austin and others will lead discussions, including a fireside chat at the Bernstein Conference at 11:00 a.m. ET, with live broadcasts available on Quanta's Investor Relations website.
Quanta Services (NYSE: PWR) announced executive changes effective July 2022. Derrick Jensen will transition from CFO to Executive Vice President – Business Operations, while Jayshree Desai will take over as CFO from her role as Chief Corporate Development Officer. These changes aim to enhance Quanta's leadership and support its growth strategies. CEO Duke Austin highlighted Jensen's extensive experience as a critical asset, while Desai's background in renewable energy positions her well to lead the financial team. Both transitions are viewed positively for the company's future.
Quanta Services, Inc. reported a strong first quarter ending March 31, 2022, with consolidated revenues of $4.0 billion, representing significant growth from $2.7 billion in the same period last year. The company achieved a GAAP diluted EPS of $0.57 and an adjusted diluted EPS of $1.37. With remaining performance obligations at $6.8 billion and a total backlog of $20.5 billion, Quanta reiterated its full-year financial expectations, citing confidence in its diverse portfolio and strategic initiatives to capitalize on energy transition opportunities.
Quanta Services, Inc. (NYSE: PWR) will release its first quarter 2022 financial results on May 5, 2022, before the market opens. A conference call and webcast will follow at 9:00 a.m. Eastern time on the same day. Interested participants can join the call via phone or webcast, with details available on Quanta’s Investor Relations website. Additionally, a recording of the call will be accessible for those unable to attend live.
Quanta specializes in infrastructure solutions across various sectors, including utility and renewable energy.
Quanta Services (NYSE: PWR) will host its 2022 Investor Day on April 5, 2022, in New York City. The event will include presentations on strategic initiatives and long-term financial targets, starting at 9:00 a.m. Eastern time and concluding by 11:30 a.m. Eastern time. A webcast will be available live and for replay on the company's website. Presentation materials will also be accessible post-event. For further details, contact Kip Rupp at 713-341-7260.
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