Quanta Services (NYSE:PWR) reported its Q1 earnings results on Thursday, May 4, 2023 at 06:55 AM.
Here’s what investors need to know about the announcement.
Earnings
Quanta Services beat estimated earnings by 9.73%, reporting an EPS of $1.24 versus an estimate of $1.13.
Revenue was up $463.00 million from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.08 which was followed by a 0.64% increase in the share price the next day.
Here’s a look at Quanta Services’s past performance:
| Quarter | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|
| EPS Estimate | 1.60 | 1.77 | 1.52 | 1.22 |
| EPS Actual | 1.68 | 1.77 | 1.54 | 1.37 |
| Revenue Estimate | 4.28B | 4.40B | 4.04B | 3.59B |
| Revenue Actual | 4.42B | 4.46B | 4.23B | 3.97B |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
Quanta Services management provided guidance for FY 2023, expecting earnings between $6.75 and $7.25 per share.
To track all earnings releases for Quanta Services visit their earnings calendar here.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
