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Jun 30, 2023
Quanta Services Q2 2023 Earnings Report
Quanta Services' second quarter performance in 2023 was marked by record revenues and a substantial backlog, driven by strong demand for its infrastructure solutions.
Key Takeaways
Quanta Services reported record revenues of $5.05 billion for the second quarter of 2023, driven by strong demand for its services. The company's total backlog reached a record $27.2 billion. As a result, Quanta is raising its full-year 2023 financial expectations for revenue, adjusted EBITDA and adjusted EPS.
Quanta generated record revenues in the second quarter, exceeding $5 billion for the first time.
The company ended the quarter with a record total backlog of $27.20 billion.
Quanta is increasing its full-year 2023 financial expectations for revenue, adjusted EBITDA and adjusted EPS.
Quanta was named the top solar infrastructure solutions provider in the United States by Solar Power World.
Revenue by Segment
Forward Guidance
For the full year ending December 31, 2023, Quanta now expects revenues to range between $19.6 billion and $20.0 billion and net income attributable to common stock to range between $705 million and $765 million. Quanta also now expects diluted earnings per share attributable to common stock to range between $4.75 and $5.15 and adjusted diluted earnings per share attributable to common stock to range between $6.90 and $7.30.
Positive Outlook
- Revenues to range between $19.6 billion and $20.0 billion
- Net income attributable to common stock to range between $705 million and $765 million
- Diluted earnings per share attributable to common stock to range between $4.75 and $5.15
- Adjusted diluted earnings per share attributable to common stock to range between $6.90 and $7.30
- EBITDA to range between $1.73 billion and $1.82 billion
Challenges Ahead
- Weather
- Regulatory
- Permitting
Historical Earnings Impact
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Avg. Return Before/After Earnings
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