Quanta Services Inc PWR shares are down Thursday after the company reported fourth-quarter revenue growth of $6.55 billion, missing the consensus of $6.61 billion.
Revenue By Segment: Electric Power Infrastructure Solutions $3.41 billion (vs. $2.46 billion a year ago); Renewable Energy Infrastructure Solutions $1.98 billion (vs. $2.03 billion prior year quarter); and Underground Utility and Infrastructure Solutions $1.17 billion ($1.3 billion in prior-year quarter).
Adjusted EBITDA improved to $737.8 million from $550.2 million in the quarter.
Adjusted EPS improved to $2.94 from $2.04 a year ago quarter, beating the consensus of $2.62.
As of Dec. 31, the backlog stood at $34.5 billion, reflecting the strength of the end markets and demand for the portfolio of solutions.
The company generated an operating cash flow of $712 million and free cash flow stood at $575.4 million in the quarter.
Outlook: Quanta Services projects FY25 revenue of $26.6 billion-$27.1 billion (vs. consensus of $26.77 billion), adjusted EBITDA of $2.67 billion-$2.80, and adjusted EPS of $9.90-$10.50 (vs. street view of $10.22).
The company expects FY25 free cash flow of $1.2 billion-$1.7 billion.
Investors can gain exposure to the stock via Tema Electrification ETF VOLT and Carbon Collective Climate Solutions U.S. Equity ETF CCSO.
Price Action: Quanta Services shares are down 4.26% to $279.63 at the last check Thursday.
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