Quanta Services (NYSE: PWR) reported Q1 EPS of $0.96, $0.13 better than the analyst estimate of $0.83. Revenue for the quarter came in at $2.81 billion versus the consensus estimate of $2.64 billion.

"Quanta is off to a solid start to the year with record first quarter results. Spending by electric utilities on grid modernization and system hardening and by gas utilities on distribution system modernization and safety programs is driving strong demand for our services. These dynamics were meaningful contributors to our 16 percent quarter over quarter revenue growth and are expected to be meaningful drivers of our base business growth going forward," said Duke Austin, President and Chief Executive Officer of Quanta Services. "As a result of our solid first quarter results, increased visibility for our electric power services and confidence in our ability to safely execute, we are increasing our full-year financial expectations. Also during the first quarter, through a successful collaboration with our partner ATCO and driven by world-class execution by our employees, we completed and energized the Fort McMurray West 500-kV Transmission Project three months ahead of schedule, on budget and with an impeccable safety record."

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