Quanta Services Q2 2022 Earnings Report
Key Takeaways
Quanta Services announced record revenues of $4.23 billion for the second quarter of 2022, with GAAP diluted EPS of $0.59 and adjusted diluted EPS of $1.54. The company's net income attributable to common stock was $88.0 million, and adjusted EBITDA was $422.1 million. The remaining performance obligations reached $6.9 billion, and the total backlog was $19.9 billion.
Generated record revenues in the second quarter, exceeding $4 billion for the first time.
Achieved strong double-digit growth of adjusted EBITDA and adjusted earnings per share.
Customers’ multi-year programs to modernize and harden utility infrastructure continue to drive demand.
Seeing growing demand for renewable generation and infrastructure solutions in 2023 and beyond
Quanta Services
Quanta Services
Forward Guidance
Quanta Services expects revenues to range between $16.60 billion and $17.00 billion, net income attributable to common stock to range between $491 million and $541 million, diluted earnings per share attributable to common stock to range between $3.32 and $3.65 and adjusted diluted earnings per share attributable to common stock to range between $6.10 and $6.44 for the full year ending December 31, 2022.
Positive Outlook
- Revenues to range between $16.60 billion and $17.00 billion
- Net income attributable to common stock to range between $491 million and $541 million
- Diluted earnings per share attributable to common stock to range between $3.32 and $3.65
- Adjusted diluted earnings per share attributable to common stock to range between $6.10 and $6.44
- Free cash flow to range between $550 million and $750 million
Challenges Ahead
- Weather conditions impacting project timing and execution
- Regulatory hurdles affecting project timelines
- Permitting delays influencing project commencement
- Supply chain challenges impacting material availability
- Inflationary pressure impacting the overall economy