Quanta Services Inc. (PWR) shares plummeted 5.07% in intraday trading on Thursday, following the company's release of its fourth quarter 2024 earnings results and 2025 guidance.
While Quanta reported better-than-expected earnings for Q4 2024, with adjusted earnings per share of $2.94 beating analysts' estimates of $2.64, the company's guidance for 2025 appears to have disappointed investors.
For the full year 2025, Quanta expects revenues to range between $26.6 billion and $27.1 billion, and adjusted earnings per share to be in the range of $9.90 to $10.50. While these figures represent year-over-year growth, they fell short of analysts' expectations, causing the stock to sell off.
Quanta attributed the relatively muted outlook to ongoing challenges such as weather, regulatory and permitting issues, supply chain constraints, and overall economic uncertainty. However, the company remains optimistic about its long-term prospects, citing strong demand for its infrastructure solutions and a robust backlog of projects.