Quanta Services Reports Record Q3 Results and Raises Full-Year Outlook
What happened
Quanta Services reported third-quarter revenue of $12.01 billion, which was 57.4% higher than the previous year and exceeded the $11.03 billion consensus estimate. Adjusted diluted earnings per share reached $6.06, surpassing expectations. The company also reported a record total backlog of $63.7 billion and raised its full-year revenue outlook to between $41.3 billion and $41.6 billion.
From dailypolitical.com
Why it matters
The strong results were driven by electric infrastructure activity, and the company's management expressed confidence in continued infrastructure spending. Jefferies Financial Group issued reports covering Quanta Services shares following the earnings release.
From dailypolitical.com
Who's involved
- Jefferies Financial GroupIssued financial reports covering Quanta Services shares
- Quanta ServicesReported third-quarter earnings and raised full-year guidance
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Caterpillar Inc.Speculative
Peers like Caterpillar Inc. could see increased demand for construction and infrastructure services.
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The entities involved
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Jefferies Financial Group
American financial services company
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Quanta Services
American Corporation
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