Quantcast
 
New book by Larry Connors - Click here to read more


 

Quanta Services Q2 profit rises, tops consensus; guides Q3 -Update

Wed. August 06, 2008; Posted: 02:01 PM
Stocks RSS
(RTTNews) - Wednesday, Quanta Services Inc. (PWR | Quote | Chart | News | PowerRating), a contracting services company, reported an increase in its earnings for the second quarter, which exceeded the analysts' estimate. Revenues grew 74% over the year-ago quarter. The company also provided guidance for the third quarter.

Net income for the second quarter rose to $40.5 million or $0.22 per share from $21.9 million or $0.17 per share in the same quarter last year. Cash earnings from continuing operations, which exclude amortization of intangible assets and compensation expense, were $49.3 million or $0.26 per share, up from $23.3 million or $0.18 per share last year. Analysts polled by First Call/Thomson Financial expected earnings of $0.19 per share for the quarter.

Revenues for the quarter rose 74% to $960.9 million from $552.2 million a year ago. Analysts anticipated revenues of $902.6 million for the quarter.

The company, which delivers infrastructure network solutions for the electric power, natural gas, telecommunications and cable television industries, noted that pro forma internal revenue growth for the quarter was approximately 20%.

John Colson, CEO of Quanta Services, said, "Our customers continue to invest in infrastructure despite a challenging economic environment. The growth in renewable energy generation is creating opportunities and adding momentum to the already strong electrical construction market."

For the six-month period, earnings were $64.8 million or $0.35 per share, compared to $53.1 million or $0.40 per share a year ago. Revenues for the period grew to $1.81 billion from $1.12 billion last year.

Looking ahead to the third quarter, Quanta expects earnings per share in the range of $0.23 - $0.26, on revenues between $1.00 billion and $1.04 billion. Cash earnings per share are expected between $0.27 and $0.31. Analysts anticipate earnings of $0.26 per share, on revenues of $972.2 million for the quarter.

Quanta Services is currently trading at $32.83, up $2.17 or 7.08%.

For comments and feedback: contact editorial@rttnews.com Copyright(c) 2008 RealTimeTraders.com, Inc. All Rights Reserved

For full details on Quanta Services Inc (PWR) click here. Quanta Services Inc (PWR) has Short Term PowerRatings of 2. Details on Quanta Services Inc (PWR) Short Term PowerRatings is available at This Link.

    


More News:   Market Updates | Stock Alerts | All Trading News | Stock Index

Email
Print
Archives
Feedback
Email Article Link
Close X
Recipients email address
Your name
Your email
Add a note (optional)




Stocks RSS





Related News [PWR]
PREMIER SPONSORED LINKS
TRADE CENTER
 
The TradingMarkets Directory
RELATED SITES
Nothing but forex
Please call 1-213-955-5858 ext. 1

About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback


All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

© 2008 The Connors Group, Inc.