Wall Street analysts expect Quanta Services (PWR) to post quarterly earnings of $3.25 per share in its upcoming report, which indicates a year-over-year increase of 19.5%. Revenues are expected to be $7.44 billion, up 14.6% from the year-ago quarter.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific Quanta Services metrics that are routinely monitored and predicted by Wall Street analysts.
Based on the collective assessment of analysts, 'Revenues- Underground Utility and Infrastructure Solutions' should arrive at $1.47 billion. The estimate points to a change of +16.6% from the year-ago quarter.
The consensus estimate for 'Revenues- Electric Power Infrastructure Solutions' stands at $5.93 billion. The estimate indicates a year-over-year change of +99%.
The average prediction of analysts places 'Total Backlog' at $37.06 billion. The estimate is in contrast to the year-ago figure of $33.96 billion.
Analysts expect 'Backlog - Underground Utility and Infrastructure Solutions' to come in at $5.59 billion. The estimate is in contrast to the year-ago figure of $6.44 billion.
The consensus among analysts is that 'Backlog - Electric Power Infrastructure Solutions' will reach $31.47 billion. Compared to the current estimate, the company reported $19.95 billion in the same quarter of the previous year.
Analysts' assessment points toward 'Operating income (loss)- Electric Power Infrastructure Solutions' reaching $674.59 million. The estimate is in contrast to the year-ago figure of $354.51 million.
Analysts forecast 'Operating income (loss)- Underground Utility and Infrastructure Solutions' to reach $125.69 million. Compared to the present estimate, the company reported $93.96 million in the same quarter last year.
View all Key Company Metrics for Quanta Services here>>>
Over the past month, shares of Quanta Services have returned +8% versus the Zacks S&P 500 composite's +3.6% change. Currently, PWR carries a Zacks Rank #2 (Buy), suggesting that it may outperform. the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Quanta Services, Inc. (PWR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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