Quanta Services Tightens FY22 Adj. EPS View; Lifts Revenue Forecast - Update

(RTTNews) - While reporting weak profit and higher revenues in its second quarter, Quanta Services, Inc. (PWR) trimmed fiscal 2022 earnings forecast on a reported basis, but tightened outlook for adjusted earnings. The company also raised its revenue forecast for the year.

Quanta Services now expects fiscal 2022 attributable net income between $491 million and $541 million, earnings per share between $3.32 and $3.65 and adjusted earnings per share between $6.10 and $6.44.

The company previously expected net income attributable between $515 million and $590 million, 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.

Revenues for the year are now expected to range between $16.60 billion and $17.00 billion. Quanta previously expected revenues to range between $16.20 billion and $16.70 billion.

The long-term outlook for Quanta's business is positive.