Quanta Services Q3 2020 Earnings Report
Key Takeaways
Quanta Services reported strong third quarter results, with revenues of $3.02 billion and a record GAAP diluted EPS of $1.13. The company is raising its full-year 2020 net income, EBITDA, and earnings per share expectations due to the strong performance.
Third quarter consolidated revenues reached $3.0 billion.
Record quarterly GAAP diluted EPS from continuing operations was $1.13, and adjusted diluted EPS was $1.40.
Cash flow from operating activities in the third quarter was $114.9 million.
Total backlog reached a record $15.1 billion.
Quanta Services
Quanta Services
Forward Guidance
Quanta Services expects revenues to range between $11.1 billion and $11.3 billion, net income attributable to common stock to range between $378 million and $395 million, diluted earnings per share attributable to common stock to range between $2.61 and $2.72 and adjusted diluted earnings per share attributable to common stock (a non-GAAP measure) to range between $3.52 and $3.64.
Positive Outlook
- Quanta expects revenues to range between $11.1 billion and $11.3 billion.
- Net income attributable to common stock to range between $378 million and $395 million.
- Diluted earnings per share attributable to common stock to range between $2.61 and $2.72.
- Adjusted diluted earnings per share attributable to common stock (a non-GAAP measure) to range between $3.52 and $3.64.
- EBITDA (a non-GAAP measure) is expected to range between $894 million and $918 million
Challenges Ahead
- Weather can impact the company’s future financial results.
- Regulatory factors can impact the company’s future financial results.
- Permitting factors can impact the company’s future financial results.
- Project timing can impact the company’s future financial results.
- Execution challenges can impact the company’s future financial results.