Quanta Services (NYSE: PWR) reported Q2 EPS of $0.50, $0.03 worse than the analyst estimate of $0.53. Revenue for the quarter came in at $2.2 billion versus the consensus estimate of $2.12 billion.

GUIDANCE:

Quanta Services sees FY2017 EPS of $1.92-$2.10, versus the consensus of $2.02. Quanta Services sees FY2017 revenue of $8.65-9.05 billion, versus the consensus of $8.51 billion.

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. Therefore, Quanta's financial outlook for revenues, margins and earnings reflects management's effort to properly align these uncertainties with the backlog that the company is executing on and the opportunities that are expected to materialize during 2017. The following forward-looking statements are based on current expectations, and actual results may differ materially.

Quanta is increasing its full-year 2017 revenue expectation to range between $8.65 billion and $9.05 billion. Quanta expects diluted earnings per share attributable to common stock to be $1.57 to $1.75 and adjusted diluted earnings per share attributable to common stock (a non-GAAP measure) for the full-year 2017 to be $1.92 to $2.10. Included in our outlook is the expectation that for the remainder of 2017, the acquired business of Stronghold is anticipated to generate approximately $240 million to $260 million of revenues and approximately $6.0 million to $7.5 million of net income attributable to common stock and to be accretive to Quanta's GAAP diluted earnings per share attributable to common stock by $0.02 to $0.03 and to non-GAAP adjusted diluted earnings per share attributable to common stock by $0.06 to $0.07. See the attached table for a reconciliation of estimated adjusted diluted earnings per share attributable to common stock to estimated GAAP diluted earnings per share attributable to common stock for the full-year 2017.

For earnings history and earnings-related data on Quanta Services (PWR) click here.