Quanta Services Inc. Q3 Profit Drops, Inline With Estimates

(RTTNews) - Quanta Services Inc. (PWR) announced a profit for third quarter that decreased from last year in line with the Street estimates.

The company's bottom line totaled $155.96 million, or $1.06 per share. This compares with $174.37 million, or $1.21 per share, in last year's third quarter.

Excluding items, Quanta Services Inc. reported adjusted earnings of $261.12 million or $1.77 per share for the period.

Analysts on average had expected the company to earn $1.77 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 33.1% to $4.46 billion from $3.35 billion last year.

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

-Earnings (Q3): $155.96 Mln. vs. $174.37 Mln. last year. -EPS (Q3): $1.06 vs. $1.21 last year. -Analyst Estimates: $1.77 -Revenue (Q3): $4.46 Bln vs. $3.35 Bln last year.

-Guidance: Full year EPS guidance: $6.15 - $6.39 Full year revenue guidance: $16.80 - $17.00 Bln