Quanta Services Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Quanta Services Inc. (PWR) released earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $84.64 million, or $0.57 per share. This compares with $89.76 million, or $0.62 per share, in last year's first quarter.

Excluding items, Quanta Services Inc. reported adjusted earnings of $203.56 million or $1.37 per share for the period.

Analysts on average had expected the company to earn $1.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 47.0% to $3.97 billion from $2.70 billion last year.

Quanta Services Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $84.64 Mln. vs. $89.76 Mln. last year. -EPS (Q1): $0.57 vs. $0.62 last year. -Analyst Estimates: $1.22 -Revenue (Q1): $3.97 Bln vs. $2.70 Bln last year.

-Guidance: Full year EPS guidance: Adj; $6.00 - $6.50 Full year revenue guidance: $16.20 - $16.70 Bln