Quanta Services Boosts FY23 Outlook - Update

(RTTNews) - While reporting financial results for the first quarter on Thursday, Quanta Services, Inc. (PWR) raised its adjusted earnings and revenue guidance for the full-year 2023.

For fiscal 2023, the company continues to project earnings in a range of $4.62 and $5.11 per share and adjusted earnings in a range of $6.75 and $7.25 per share on revenues between $18.60 billion and $19.10 billion.

Previously, the company expected earnings in a range of $3.47 to $3.97 per share and adjusted earnings in a range of $6.00 to $6.50 per share on revenues between $16.20 billion and $16.70 billion.

On average, 16 analysts polled by Thomson Reuters expect the company to report earnings of $7.07 per share on revenues of $18.67 billion for the year. Analysts' estimates typically exclude special items.

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