Quanta Services (PWR) Misses Q2 EPS by 1c, Revenues Beat

Quanta Services (NYSE: PWR) reported Q2 EPS of $0.59, $0.01 worse than the analyst estimate of $0.60. Revenue for the quarter came in at $2.66 billion versus the consensus estimate of $2.53 billion.

"We are off to a solid first half start and remain on track to achieve our full-year earnings per share expectations. Importantly, the second half of this year is strengthening as our base business activity seasonally increases and our larger pipeline projects are ramping in construction activity," said Duke Austin, President and Chief Executive Officer of Quanta Services. "Demand for craft skilled labor is high, and our investments in safety and training have made Quanta a preferred employer in our industry. We ended the second quarter with more than 37,000 employees and are on pace to generate record man hours this year. Quanta's competitive position in the marketplace and our ability to serve the expanding needs of our customers has never been better. Our end markets are strong, we see opportunity to achieve record backlog again this year and we believe we are well positioned for growth over the next several years."

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

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