HOUSTON (AP) — HOUSTON (AP) — Quanta Services Inc. (PWR) on Thursday reported first-quarter profit of $118.4 million.
The Houston-based company said it had net income of 79 cents per share. Earnings, adjusted for amortization costs and stock option expense, came to $1.41 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.
The specialty contractor for utility and energy companies posted revenue of $5.03 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $4.96 billion.
Quanta Services expects full-year earnings in the range of $8.15 to $8.65 per share, with revenue in the range of $22.5 billion to $23 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PWR at https://www.zacks.com/ap/PWR
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
