HOUSTON (AP) — HOUSTON (AP) — Quanta Services Inc. (PWR) on Thursday reported fourth-quarter earnings of $305.1 million.
The Houston-based company said it had profit of $2.03 per share. Earnings, adjusted for amortization costs and stock option expense, were $2.94 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.64 per share.
The specialty contractor for utility and energy companies posted revenue of $6.55 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $6.63 billion.
For the year, the company reported profit of $904.8 million, or $6.03 per share. Revenue was reported as $23.67 billion.
Quanta Services expects full-year earnings in the range of $9.90 to $10.50 per share, with revenue in the range of $26.6 billion to $27.1 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PWR at https://www.zacks.com/ap/PWR
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