WASHINGTON (dpa-AFX) - Quanta Services Inc. (PWR) announced earnings for first quarter that retreated compared to the same period last year.
The company said its profit declined to $37.75 million, or $0.23 per share. This was lower than $60.30 million, or $0.28 per share, in last year's first quarter.
Analysts had expected the company to earn $0.26 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company said revenue for the quarter fell 8.1% to $1.71 billion. This was down from $1.86 billion last year.
Quanta Services Inc. earnings at a glance:
-Earnings (Q1): $37.75 Mln. vs. $60.30 Mln. last year. -Earnings Decline (Y-o-Y): -37.4% -EPS (Q1): $0.23 vs. $0.28 last year. -EPS Decline (Y-o-Y): -17.9% -Analysts Estimate: $0.26 -Revenue (Q1): $1.71 Bln vs. $1.86 Bln last year. -Revenue Change (Y-o-Y): -8.1%
-Guidance: Full year EPS guidance: $1.61 - $1.81 Full year revenue guidance: $7.5 - $8.0 Bln
Copyright RTT News/dpa-AFX