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Mar 31, 2021
Quanta Services Q1 2021 Earnings Report
Quanta Services reported a solid start to the year, with strong performance in the Electric Power Infrastructure Solutions segment and better-than-expected profitability in the Underground Utility and Infrastructure Solutions segment. The company increased its full-year financial expectations due to continued confidence in its ability to safely execute.
Key Takeaways
Quanta Services reported first quarter 2021 results with revenues of $2.70 billion and GAAP diluted EPS of $0.62. Adjusted diluted EPS was $0.83. The company's total backlog reached a record $15.8 billion.
First Quarter Consolidated Revenues of $2.7 Billion and Record First Quarter Electric Power Revenues
Record First Quarter Electric Power Operating Income
First Quarter GAAP Diluted EPS of $0.62 and Adjusted Diluted EPS of $0.83
Remaining Performance Obligations of $4.1 Billion and Record Total Backlog of $15.8 Billion
Revenue by Segment
Forward Guidance
Quanta now expects revenues to be between $12.05 billion and $12.35 billion, net income attributable to common stock to be between $469 million and $533 million, diluted earnings per share attributable to common stock to be between $3.25 and $3.69 and adjusted diluted earnings per share attributable to common stock (a non-GAAP measure) to be between $4.12 and $4.57 for 2021.
Positive Outlook
- Revenues to be between $12.05 billion and $12.35 billion
- Net income attributable to common stock to be between $469 million and $533 million
- Diluted earnings per share attributable to common stock to be between $3.25 and $3.69
- Adjusted diluted earnings per share attributable to common stock to be between $4.12 and $4.57 for 2021.
- EBITDA (a non-GAAP measure) is now expected to be between $1.02 billion and $1.11 billion for 2021
Challenges Ahead
- Weather
- Regulatory
- Permitting
Historical Earnings Impact
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Avg. Return Before/After Earnings
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