Quanta Services Inc. Q4 Profit Decreases, but beats estimates

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

The company's bottom line came in at $104.80 million, or $0.71 per share. This compares with $170.05 million, or $1.17 per share, in last year's fourth quarter.

Excluding items, Quanta Services Inc. reported adjusted earnings of $227.38 million or $1.54 per share for the period.

Analysts on average had expected the company to earn $1.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 34.7% to $3.92 billion from $2.91 billion last year.

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

-Earnings (Q4): $104.80 Mln. vs. $170.05 Mln. last year. -EPS (Q4): $0.71 vs. $1.17 last year. -Analyst Estimates: $1.41 -Revenue (Q4): $3.92 Bln vs. $2.91 Bln last year.