Quanta Services Inc. Q2 Profit Increases, beats estimates

(RTTNews) - Quanta Services Inc. (PWR) reported earnings for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $165.90 million, or $1.12 per share. This compares with $88.02 million, or $0.59 per share, in last year's second quarter.

Excluding items, Quanta Services Inc. reported adjusted earnings of $245.27 million or $1.65 per share for the period.

Analysts on average had expected the company to earn $1.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 19.4% to $5.05 billion from $4.23 billion last year.

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

-Earnings (Q2): $165.90 Mln. vs. $88.02 Mln. last year. -EPS (Q2): $1.12 vs. $0.59 last year. -Analyst Estimate: $1.63 -Revenue (Q2): $5.05 Bln vs. $4.23 Bln last year.

-Guidance: Full year EPS guidance: $6.90 - $7.30 Full year revenue guidance: $19.6 - $20.0 Bln