Quanta Services Stock Price, News & Analysis

Quanta Services, Inc. (NYSE: PWR) has declared a quarterly cash dividend of $0.07 per share, representing an annualized rate of $0.28. This dividend reflects a significant 17% increase from the previous quarterly payment in October 2021. The dividend is set to be paid on January 14, 2022, to stockholders recorded by January 4, 2022. Quanta Services continues to focus on delivering comprehensive infrastructure solutions across various sectors including utility and renewable energy.

Quanta Services reported impressive third-quarter results for 2021, with revenues reaching $3.35 billion, compared to $3.02 billion in the same period of 2020. Net income rose to $174.4 million or $1.21 per diluted share, up from $162.9 million or $1.13 per share year-over-year. The acquisition of Blattner, a leader in utility-scale renewable energy, positions Quanta for significant growth in the energy transition sector. The company’s backlog and adjusted EBITDA are at record levels, evidencing robust operational execution and strong margins.

Quanta Services, Inc. (NYSE:PWR) announced participation in multiple investor conferences in November and December 2021. Key events include the Baird Global Industrial Conference on November 10, the Goldman Sachs Global Sustainability Forum on November 30, and the Credit Suisse Global Industrial Conference on December 2. CEO Duke Austin and CFO Derrick Jensen will address investors, highlighting infrastructure solutions and sustainability challenges. Live webcasts will be available on their Investor Relations website.

Quanta Services, Inc. (NYSE: PWR) will release its third quarter 2021 financial results on November 4, 2021, before market opening. A conference call and webcast will follow at 9:00 a.m. Eastern time on the same day. Interested participants can join the call by dialing (201) 689-8345 or accessing it via the company's Investor Relations website. An archive of the conference will be available post-call for those unable to attend live.

Quanta Services (NYSE: PWR) has successfully completed the acquisition of Blattner Holding Company, a prominent utility-scale renewable energy solutions provider in North America. Founded in 1907, Blattner specializes in engineering, procurement, project management, and construction services for renewable energy projects including wind, solar, and energy storage. This acquisition aims to enhance Quanta's capabilities in delivering comprehensive electric infrastructure solutions, supporting the transition to a carbon-neutral economy.

Quanta Services (NYSE:PWR) will participate in a fireside chat hosted by Wolfe Research analyst Steve Fleishman on September 30, 2021, at 10:25 a.m. Eastern time. The event will be broadcast live online, with links and archived replays available on Quanta's Investor Relations page. Quanta Services specializes in infrastructure solutions for utility, communications, pipeline, and energy sectors, operating across the U.S., Canada, Australia, and other regions.

Quanta Services announced the pricing of its offering of senior notes totaling $1.5 billion. This includes three series: 0.950% due 2024, 2.350% due 2032, and 3.050% due 2041. Each series will be offered at prices close to their face value. The offering is expected to close on September 23, 2021, pending customary closing conditions. Proceeds will finance the cash portion of the acquisition of Blattner Holding Company. BofA Securities and Wells Fargo Securities are the joint managers for this offering.

Quanta Services (NYSE: PWR) has announced a definitive agreement to acquire Blattner Holding Company for approximately $2.7 billion. Blattner is a leading utility-scale renewable energy infrastructure provider in North America, generating $2.4 billion in revenue and $291 million in adjusted EBITDA in 2020. The acquisition is expected to enhance Quanta's growth and financial profile, contributing revenues between $2.5 billion and $2.7 billion for 2022. The deal has been unanimously approved by both companies' boards and is anticipated to close in Q4 2021, pending regulatory approvals.

Quanta Services reported a record revenue of $3.00 billion for Q2 2021, up from $2.51 billion in Q2 2020. Net income rose to $117.0 million, or $0.81 per diluted share, compared to $73.9 million, or $0.52 per diluted share, in the previous year. Adjusted diluted EPS increased to $1.06 from $0.74. The company's backlog reached $17.0 billion, driven by demand for utility infrastructure and renewable energy investments. However, a $23.6 million provision for credit loss due to Limetree Refining's bankruptcy affected results. Quanta also repurchased $40.7 million of its stock in Q2 2021.