HOUSTON (AP) — HOUSTON (AP) — Quanta Services Inc. (PWR) on Thursday reported first-quarter net income of $220.6 million.
The Houston-based company said it had net income of $1.45 per share. Earnings, adjusted for one-time gains and costs, came to $2.68 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.04 per share.
The specialty contractor for utility and energy companies posted revenue of $7.87 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $6.99 billion.
Quanta Services expects full-year earnings in the range of $13.55 to $14.25 per share, with revenue in the range of $34.7 billion to $35.2 billion.
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