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Quanta misses profit forecast, lowers guidance

Apr. 30, 2015 9:29 AM ETQuanta Services, Inc. (PWR) StockPWRBy: Yoel Minkoff, SA News Editor
  • Adjusted net income of 466.6M, or $0.31 per share vs. $95.3M, or $0.44 per share, in the same quarter a year ago.
  • During the quarter, the company repurchased about 6.7M shares of common stock for a total cost of approximately $182M.
  • Outlook for 2015: The company expects Q2 adjusted diluted EPS of $0.42-$0.48 on revenues of $1.95B-$2.05B.
  • Full year adjusted diluted EPS guidance has been lowered to $1.94-$2.14 from $2.04-$2.29. Revenues are still expected to be $8.1B-$8.5B.
  • Quanta Services (NYSE:PWR) also announced it will sell its fiber optic licensing operations to Crown Castle for $1B.
  • Q1 results
  • PWR -0.4% premarket

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