Quanta Services Q3 2021 Earnings Report
Key Takeaways
Quanta Services announced strong Q3 2021 results, achieving record third quarter consolidated revenues of $3.35 billion. The company's GAAP EPS was $1.21 and adjusted diluted EPS was $1.48. Quanta also completed the acquisition of Blattner, a renewable energy infrastructure solutions provider.
Record third quarter consolidated revenues of $3.35 billion.
Strong Electric Power Infrastructure Solutions segment results, including operating income margin of 12.4%.
Record third quarter GAAP and Adjusted Diluted EPS of $1.21 and $1.48, respectively.
Remaining Performance Obligations of $4.4 Billion and Record Total Backlog of $17.0 Billion.
Quanta Services
Quanta Services
Forward Guidance
Quanta Services expects revenues to be between $12.55 billion and $12.85 billion, net income attributable to common stock to be between $464 million and $493 million, diluted earnings per share attributable to common stock to be between $3.20 and $3.40 and adjusted diluted earnings per share attributable to common stock to be between $4.62 and $4.87 for the full year of 2021.
Positive Outlook
- Revenues to be between $12.55 billion and $12.85 billion
- Net income attributable to common stock to be between $464 million and $493 million
- Diluted earnings per share attributable to common stock to be between $3.20 and $3.40
- Adjusted diluted earnings per share attributable to common stock to be between $4.62 and $4.87
- EBITDA to be between $1.09 billion and $1.14 billion
Challenges Ahead
- Weather
- Regulatory
- Permitting
- Project timing
- Execution challenges