Quanta Services Inc · Q2 2020 earnings

Briefing

Quanta Services' second quarter performance exceeded expectations despite unprecedented health and economic conditions, demonstrating the resiliency of the business and the operational excellence of its people. The company ended the quarter with a strong balance sheet and liquidity position.

Quanta Services reported revenues of $2.51 billion and net income of $73.9 million, or $0.52 per diluted share, for the second quarter of 2020. Adjusted diluted earnings per share were $0.74. The company's total backlog was $13.9 billion, and it had total liquidity of $2.1 billion at the end of the quarter.

• Second Quarter GAAP Diluted EPS of $0.52 and Adjusted Diluted EPS of $0.74
• Second Quarter Cash Flow from Operating Activities of $497.5 million
• Total Liquidity of $2.1 Billion at June 30, 2020
• Remaining Performance Obligations of $5.2 Billion and Total Backlog of $13.9 Billion

Headline financials

Revenue & EPS history

Quanta expects revenues to range between $11.0 billion and $11.4 billion, net income attributable to common stock to range between $338 million and $382 million, diluted earnings per share attributable to common stock to range between $2.33 and $2.64 and adjusted diluted earnings per share attributable to common stock to range between $3.18 and $3.48. Additionally, Quanta is increasing its full year free cash flow expectations to between $600 million and $800 million.