NYSE$PWR
Quanta Services Inc · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Quanta Services' first quarter performance was solid despite unprecedented health and economic conditions.
Quanta Services reported revenues of $2.76 billion and net income of $38.7 million, or $0.26 per diluted share, for the first quarter of 2020. Adjusted diluted earnings per share was $0.47. The company ended the quarter with a total backlog of $14.7 billion and total liquidity of $1.7 billion. The company has adjusted its 2020 outlook to reflect the estimated impact of COVID-19 and other factors on operations.
- Revenues in the first quarter of 2020 were $2.76 billion compared to revenues of $2.81 billion in the first quarter of 2019.
- Net income attributable to common stock was $38.7 million, or $0.26 per diluted share.
- Adjusted diluted earnings per share attributable to common stock was $0.47 for the first quarter of 2020 compared to $0.96 for the first quarter of 2019.
- Total Backlog of $14.7 Billion
Headline financials
Revenue & EPS history
Quanta Services · Revenue · Quarterly
$2.76B
Revenue by segment
Quanta Services · $1.38B total across 1 segment · Q3 2023
- Underground Utility and Infrastructure$1.38B+15.5%100.0%
Forward guidance
Quanta has adjusted its full-year financial expectations and now expects revenues to range between $11.4 billion and $11.8 billion, net income attributable to common stock to range between $325 million and $370 million, diluted earnings per share attributable to common stock to range between $2.25 and $2.57 and adjusted diluted earnings per share attributable to common stock (a non-GAAP measure) to range between $3.04 and $3.36.
Tailwinds
- The long-term outlook for Quanta’s business is positive.
- Quanta estimates that 80% to 90% of its forecasted full year 2020 revenue will be derived from utility, communications and certain pipeline and industrial infrastructure services that the company believes are resilient.
- Quanta is maintaining its full year free cash flow expectations of between $400 million and $600 million.
- Management believes continuing to provide expectations commentary to the investment community in times of uncertainty has value
- Quanta believes this course of action is prudent and will result in improved profitability and optimization of the company’s operational portfolio.
Headwinds
- However, weather, regulatory, permitting, project timing, execution challenges and other factors have impacted the company’s historical results, and may impact Quanta’s future financial results.
- More recently, the COVID-19 pandemic has significantly impacted certain of Quanta’s operations and various markets where Quanta operates, which has created additional uncertainty.
- Quanta estimates at least 70% of the change in the company’s full-year 2020 expectations as compared to its prior expectations can be attributed to COVID-19 related disruptions
- certain portions of Quanta’s Pipeline and Industrial Infrastructure Services segment are challenged, particularly in the second quarter of 2020.
- Quanta’s LATAM operations are expected to generate an operating loss of $25 million to $30 million and diluted loss per share of $0.17 to $0.21.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
+1.2%
Avg return
Earnings day
+1.7%
Avg return
5 days after
+5.0%
Avg return
30 days after
55%
36 / 65 earnings
Positive
+12.9%
Q1 2026
Best reaction
-11.0%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +12.9% | +22.8% | +13.1% | |
| Q4 2025 | +5.8% | +9.4% | +6.9% | |
| Q3 2025 | +1.2% | -2.2% | +3.6% | |
| Q2 2025 | -1.2% | -5.3% | -8.1% | |
| Q1 2025 | +10.0% | +8.5% | +17.0% | |
| Q4 2024 | -3.7% | -9.5% | -8.2% | |
| Q3 2024 | -0.2% | +3.0% | +5.0% | |
| Q2 2024 | -2.6% | -0.6% | -1.0% | |
| Q1 2024 | -0.2% | +1.3% | -0.5% | |
| Q4 2023 | -3.0% | -7.7% | -8.6% | |
| Q3 2023 | +6.0% | +3.4% | +19.4% | |
| Q2 2023 | -1.0% | +0.2% | +5.0% | |
| Q1 2023 | +1.7% | +1.7% | +7.1% | |
| Q4 2022 | +8.2% | +8.8% | +8.3% | |
| Q3 2022 | +7.3% | +8.0% | +11.9% | |
| Q2 2022 | -0.1% | -0.9% | +2.6% | |
| Q1 2022 | -3.0% | -7.8% | +6.5% | |
| Q4 2021 | +10.1% | +10.2% | +36.6% | |
| Q3 2021 | +0.5% | +1.2% | -3.6% | |
| Q2 2021 | +3.7% | +5.8% | +30.3% | |
| Q1 2021 | +2.9% | +1.2% | -4.3% | |
| Q4 2020 | +3.4% | +3.8% | +7.4% | |
| Q3 2020 | +2.5% | +10.6% | +14.9% | |
| Q2 2020 | +8.4% | +16.5% | +21.5% | |
| Q1 2020 | +1.3% | -5.9% | +25.0% | |
| Q4 2019 | +2.8% | +4.0% | -19.5% | |
| Q3 2019 | +4.0% | +3.0% | -1.0% | |
| Q2 2019 | -8.0% | -7.4% | -4.5% | |
| Q1 2019 | -2.1% | -3.4% | -3.7% | |
| Q4 2018 | -0.1% | -0.7% | +4.9% | |
| Q3 2018 | +1.5% | -3.4% | -10.0% | |
| Q2 2018 | -0.7% | -1.8% | -2.3% | |
| Q1 2018 | +2.1% | +2.7% | +4.4% | |
| Q4 2017 | -3.4% | -2.3% | -2.0% | |
| Q3 2017 | -1.4% | -1.6% | +8.4% | |
| Q2 2017 | +1.1% | -1.9% | -2.2% | |
| Q1 2017 | -2.2% | -5.7% | -7.6% | |
| Q4 2016 | +0.5% | +0.9% | -0.6% | |
| Q3 2016 | +7.2% | +9.7% | +22.6% | |
| Q2 2016 | -0.2% | +0.2% | +4.7% | |
| Q1 2016 | +1.8% | — | — | |
| Q4 2015 | +3.4% | — | — | |
| Q3 2015 | +2.5% | — | — | |
| Q2 2015 | +3.4% | — | — | |
| Q1 2015 | +4.1% | — | — | |
| Q4 2014 | -0.3% | — | — | |
| Q3 2014 | +2.1% | — | — | |
| Q2 2014 | +3.8% | — | — | |
| Q1 2014 | -1.9% | — | — | |
| Q4 2013 | +1.8% | — | — | |
| Q3 2013 | -0.1% | — | — | |
| Q2 2013 | +1.0% | — | — | |
| Q1 2013 | -1.0% | — | — | |
| Q4 2012 | -0.0% | — | — | |
| Q3 2012 | -1.4% | — | — | |
| Q2 2012 | +0.1% | — | — | |
| Q1 2012 | -1.4% | — | — | |
| Q4 2011 | -0.6% | — | — | |
| Q3 2011 | -6.6% | — | — | |
| Q2 2011 | -11.0% | — | — | |
| Q1 2011 | +2.0% | — | — | |
| Q4 2010 | -0.6% | — | — | |
| Q3 2010 | -1.0% | — | — | |
| Q2 2010 | +0.2% | — | — | |
| Q1 2010 | +4.7% | — | — |
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