Quanta Services Boosts FY20 Adj. EPS Outlook - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Thursday, contracting services company Quanta Services, Inc. (PWR) raised its adjusted earnings guidance for the full-year 2020, reflecting the strong third quarter results, healthy end market drivers and the addition of recent acquisitions.

For fiscal 2020, the company now projects earnings in a range of $2.61 to $2.72 per share and adjusted earnings in a range of $3.52 to $3.64 per share on revenues between $11.1 billion and $11.3 billion.

Previously, the company expected adjusted earnings in a range of $3.18 and $3.48 per share on revenues between $11.0 billion and $11.4 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.35 per share on revenues of $11.22 billion for the year. Analysts' estimates typically exclude special items.

The long-term outlook for Quanta's business is positive. However, weather, regulatory, permitting, project timing, execution challenges and other factors have impacted the company's historical results, and may impact Quanta's future financial results.