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Quanta Services (NYSE: PWR) provides essential infrastructure solutions for energy, utilities, and communications sectors. This news hub delivers timely updates on operational milestones, strategic initiatives, and market developments impacting this leading engineering and construction specialist.
Access consolidated coverage of earnings reports, project awards, and regulatory filings. Track Quanta's progress in renewable energy infrastructure, grid modernization projects, and technology-driven service expansions. Our repository ensures investors and industry professionals stay informed about critical developments shaping North America's infrastructure landscape.
Key updates on transmission system upgrades, substation construction projects, and emergency power restoration efforts. Monitor strategic acquisitions enhancing Quanta's technical expertise and geographic reach. Discover how the company addresses evolving demands in sustainable energy and digital infrastructure through its integrated EPC solutions.
Bookmark this page for streamlined access to SEC filings, executive commentary, and partnership announcements. Verify operational updates directly from primary sources while maintaining perspective on Quanta's role in modernizing critical energy networks across multiple continents.
Hybar , a company building an advanced sustainable scrap metal recycling steel rebar mill in Arkansas, has announced a strategic equity investment from Quanta Services, Inc. (NYSE: PWR). Quanta joins existing investors TPG Rise Climate, Koch Minerals & Trading, and Global Principal Partners. The mill, expected to begin operations in less than a year, will be powered by a 105 MW solar field and battery storage facility. It aims to produce environmentally sustainable steel rebar for large infrastructure projects.
Quanta Services, a leading specialized contracting services company, sees this investment as an opportunity to ensure a domestic sustainable supply of materials for its projects. Hybar's mill design and operating methods are expected to significantly reduce greenhouse gas emissions in steelmaking, aligning with Quanta's expertise in clean energy and construction.
Quanta Services (NYSE: PWR) has announced a quarterly cash dividend of $0.09 per share, equivalent to an annualized rate of $0.36 per share. The dividend will be paid on October 11, 2024, to stockholders of record as of October 1, 2024. This declaration by the Board of Directors demonstrates Quanta Services' commitment to returning value to its shareholders through regular dividend payments.
Quanta Services (NYSE: PWR) has announced the pricing of its senior notes offering, consisting of $600 million of 4.75% notes due 2027 and $650 million of 5.25% notes due 2034. The offering is expected to close on August 9, 2024. Quanta intends to use the net proceeds to repay existing debts, including borrowings from its commercial paper program and short-term loan facility used to finance the recent acquisition of Cupertino Electric, Inc. The offering is being made through a shelf registration statement filed with the SEC, with several financial institutions acting as joint book-running managers.
Quanta Services (NYSE: PWR) reported strong Q2 2024 results, with record quarterly revenues of $5.59 billion, up from $5.05 billion in Q2 2023. Net income rose to $188.2 million, or $1.26 per diluted share, compared to $165.9 million, or $1.12 per share, in Q2 2023. Adjusted diluted EPS increased to $1.90 from $1.65 year-over-year.
The company highlighted record total backlog of $31.3 billion and strong cash flow, attributing growth to ongoing demand for renewable generation and power grid infrastructure services. Quanta completed the acquisition of Cupertino Electric (CEI) in July 2024, expanding its electrical infrastructure solutions. As a result, Quanta is increasing its full-year 2024 financial expectations for revenue, adjusted EBITDA, and adjusted EPS.
Quanta Services (NYSE: PWR) has acquired Cupertino Electric, Inc. (CEI), a leading electrical infrastructure solutions provider. The $1.54 billion acquisition includes $1.3 billion in cash and approximately 883,000 Quanta shares. Key highlights:
1. CEI brings expertise in technology, renewable energy, and infrastructure sectors.
2. Expected to contribute $2.1-$2.2 billion in revenue and $155-$175 million in adjusted EBITDA for 2024.
3. Enhances Quanta's presence in data center and renewable energy markets.
4. Projected to add $0.40-$0.50 to Quanta's adjusted diluted EPS in 2025.
5. Expands Quanta's skilled workforce by 4,300 employees.
The acquisition aligns with Quanta's growth strategy, diversifying its customer base and enhancing its end-to-end electrical infrastructure solutions.
Quanta Services (NYSE: PWR) will release its Q2 2024 financial results on August 1, 2024, before market open. The company will hold a conference call and webcast at 9:00 a.m. Eastern time the same day. Quanta will share detailed operational and financial commentary on its Investor Relations website shortly after the earnings release. This commentary will replace extensive prepared remarks in the call, allowing more time for Q&A with institutional investors. Supplemental earnings materials will also be posted online. Investors can join the call via phone or webcast, and a replay will be accessible afterward.
Powerfleet (Nasdaq: PWFL) will join the Russell 2000® Index at the conclusion of the 2024 Russell US Indexes annual reconstitution, effective July 1, 2024. The company also announced a ticker symbol change to 'AIOT' to better reflect its identity as a global AIoT SaaS provider. CEO Steve Towe emphasized the company's growth and penetration into blue-chip customer markets. The Russell 2000® Index ranks the 4,000 largest US stocks by market capitalization, capturing them as of April 30, 2024.
Quanta Services (NYSE: PWR) has announced the election of Warner L. Baxter and Jo-ann dePass Olsovsky as new independent directors and appointed Doyle N. Beneby as the new independent Chairman of the Board. Baxter offers extensive experience in the electric and natural gas utility sectors, having held senior positions at Ameren and other notable organizations. Olsovsky brings expertise in information technology and cybersecurity from her tenure at Salesforce and BNSF Railway. The new appointments aim to enhance the strategic insights and governance of Quanta Services.
Quanta Services (NYSE: PWR) has declared a quarterly cash dividend of $0.09 per share, translating to an annualized rate of $0.36 per share. The dividend is payable on July 12, 2024, to stockholders recorded by July 1, 2024.
Quanta Services (NYSE: PWR) announced its participation in two significant institutional investor conferences in May 2024. Key executives including CEO Duke Austin, CFO Jayshree Desai, and VP of Investor Relations Kip Rupp will engage with institutional investors at the Bernstein Strategic Decisions Conference on May 29 and the KeyBanc Capital Markets Industrials & Basic Materials Conference on May 30. Additionally, Austin and Desai will feature in a fireside chat hosted by Bernstein analyst Chad Dillard, which will be broadcast live online. Webcast links and replay options will be accessible on Quanta's Investor Relations website.
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