Welcome to our dedicated page for Quanta Services news (Ticker: PWR), a resource for investors and traders seeking the latest updates and insights on Quanta Services stock.
Quanta Services, Inc. (NYSE: PWR) generates a steady flow of news related to energy, technology and communications infrastructure. Company press releases highlight its role in providing specialized infrastructure solutions to the utility, renewable energy, technology, communications, pipeline and energy industries, as well as its participation in major industry partnerships and capital projects.
On this page, readers can follow PWR news covering topics such as quarterly earnings announcements, segment performance for Electric Infrastructure Solutions and Underground Utility and Infrastructure Solutions, and updates on remaining performance obligations and backlog as described in Quanta’s results releases. The company also issues news about capital allocation, including quarterly cash dividends, share repurchases and senior notes offerings used to refinance existing indebtedness.
Quanta’s news flow often features project and partnership announcements, such as its collaboration with American Electric Power on 765 kV and other high-voltage transmission facilities, and its engagement by NiSource to provide power generation and grid infrastructure solutions for a large load customer. Additional releases describe the expansion of its total solutions power generation platform and its joint venture with Zachry Group for combined cycle gas generation solutions.
Investors and followers of PWR can also find updates on acquisitions and strategic growth, including the purchase of Dynamic Systems, as well as information about conference appearances, like participation in the UBS Global Industrials and Transportation Conference. Community and sponsorship news, such as Quanta’s role as an Official Supporter of Houston World Cup 26 Host City, further rounds out the company’s public disclosures. Bookmark this page to monitor the full range of Quanta Services news and corporate developments.
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.
Quanta Services, Inc. (NYSE: PWR) released its 2020 Corporate Responsibility Report, highlighting its commitments to People, Planet, and Principles. The interactive microsite showcases data on ESG initiatives and Quanta's role in supporting a carbon-neutral future. The report aligns with the United Nations Sustainable Development Goals and discusses key topics such as COVID leadership, infrastructure needs, and the introduction of LUMA Energy. CEO Duke Austin emphasized the importance of modernized infrastructure for resilience and quality of life.
Quanta Services, Inc. (NYSE: PWR) will announce its second quarter 2021 financial results on August 5, 2021, before market opens. A conference call will be held at 9:00 a.m. Eastern time the same day, accessible via phone and live stream. A slide presentation will accompany the call, available on Quanta's Investor Relations website. Those unable to attend live can access a recorded version of the webcast shortly after the call. Quanta provides specialized contracting services in utility, communications, pipeline, and energy sectors across multiple countries.
Quanta Services (NYSE:PWR) has appointed Holli C. Ladhani to its Board of Directors, enhancing its leadership with her extensive experience in the energy sector and finance. Previously, Ladhani served as President and CEO of Select Energy Services until January 2021 and has held significant roles at Rockwater Energy Solutions and Dynegy. David McClanahan, Chairman of the Board, emphasized her operational and financial expertise, forecasting valuable insights for Quanta. Ladhani also serves on boards of Marathon Oil and Priority Power Management, bringing diverse industry experience.
On June 1, 2021, Quanta Services announced that its joint venture, LUMA Energy, has officially taken over the operations and maintenance of Puerto Rico's electric power transmission and distribution system. This transition from the Puerto Rico Electric Power Authority (PREPA) follows nearly a year of preparation and is part of a 15-year Operation and Maintenance Agreement. Quanta, along with ATCO, aims to enhance the reliability of Puerto Rico's power grid while contributing to local economic development. The venture underscores a commitment to modernize the energy infrastructure of Puerto Rico.
Quanta Services, Inc. (NYSE: PWR) declared a quarterly cash dividend of $0.06 per share, payable on July 15, 2021, to stockholders of record by July 1, 2021. This announcement reflects Quanta's commitment to returning value to its shareholders and underscores its stable financial condition despite potential market uncertainties. The company operates across multiple sectors including utilities and energy, providing comprehensive infrastructure solutions.