WASHINGTON (dpa-AFX) - Quanta Services, Inc. (PWR) announced the company now expects revenues for the full year 2016 to range between $7.75 billion and $8.0 billion, and adjusted earnings per share from continuing operations to be $1.52 to $1.67. In May, the company projected full year EPS in the range of $1.61 - $1.81, and revenue in the range of $7.5 - $8.0 billion. Quanta noted that its outlook does not assume any recovery of the project losses recognized to date on the power plant project in Alaska.
Analysts polled by Thomson Reuters expect the company to report profit per share of $1.67 on revenue of $7.69 billion. Analysts' estimates typically exclude special items.
Quanta expects a meaningful increase in revenues, margins and earnings during the second half of 2016, as compared to the first half of 2016, due to a significant increase in the number of larger pipeline projects anticipated to be in construction during the period.
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