Quanta Services Third Quarter 2024 Earnings: Revenues Disappoint

Quanta Services (NYSE:PWR) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$6.49b (up 16% from 3Q 2023).
• Net income: US$293.2m (up 7.5% from 3Q 2023).
• Profit margin: 4.5% (down from 4.9% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$1.99 (up from US$1.88 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Quanta Services Revenues Disappoint

Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) was mostly in line with analyst estimates.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Construction industry in the US.

Performance of the American Construction industry.

The company's shares are down 2.1% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 2 warning signs for Quanta Services you should know about.

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