Quanta Services Lowers Q3 Guidance, Warns On Q4

(RTTNews) - Quanta Services, Inc. (PWR) Friday said it is lowering its earnings and revenue guidance for the third quarter, citing significant delays in larger electric transmission projects. The company also attributed the revised estimates to lower margins at Electric Power Infrastructure Services segment.

For the third quarter, the company now expects earnings per share from continuing operations in the range of $0.22-$0.24, with revenues slightly below the midpoint of its prior guidance range.

Earlier, Quanta Services had anticipated that earnings per share from continuing operations would range between $0.34 and $0.40, and revenues between $1.9 billion to $2.0 billion.

The Street currently foresees earnings per share of $0.45, on revenues of $1.95 billion.

In addition, the company said its fourth-quarter operating results would also be negatively impacted, due to further delays and continued tough environment.