HOUSTON (AP) — HOUSTON (AP) — Quanta Services Inc. (PWR) on Thursday reported fourth-quarter earnings of $162.6 million.
On a per-share basis, the Houston-based company said it had net income of $1.10. Earnings, adjusted for one-time gains and costs, were $1.68 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.61 per share.
The specialty contractor for utility and energy companies posted revenue of $4.42 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $4.27 billion.
For the year, the company reported profit of $491.2 million, or $3.32 per share. Revenue was reported as $17.07 billion.
Quanta Services expects full-year earnings in the range of $6.75 to $7.25 per share, with revenue in the range of $18.4 billion to $18.9 billion.
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