In its upcoming report, Quanta Services (PWR) is predicted by Wall Street analysts to post quarterly earnings of $3.00 per share, reflecting an increase of 2% compared to the same period last year. Revenues are forecasted to be $7.28 billion, representing a year-over-year increase of 11%.
The consensus EPS estimate for the quarter has undergone a downward revision of 1.5% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship 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.
That said, let's delve into the average estimates of some Quanta Services metrics that Wall Street analysts commonly model and monitor.
Analysts forecast 'Revenues- Underground Utility and Infrastructure Solutions' to reach $1.37 billion. The estimate indicates a year-over-year change of +16.7%.
Analysts expect 'Revenues- Electric Power Infrastructure Solutions' to come in at $6.00 billion. The estimate indicates a change of +76.1% from the prior-year quarter.
Based on the collective assessment of analysts, 'Total Backlog' should arrive at $39.52 billion. Compared to the current estimate, the company reported $34.54 billion in the same quarter of the previous year.
According to the collective judgment of analysts, 'Backlog - Underground Utility and Infrastructure Solutions' should come in at $6.19 billion. The estimate is in contrast to the year-ago figure of $5.91 billion.
The consensus among analysts is that 'Backlog - Electric Power Infrastructure Solutions' will reach $33.34 billion. Compared to the present estimate, the company reported $19.90 billion in the same quarter last year.
The combined assessment of analysts suggests that 'Operating income (loss)- Electric Power Infrastructure Solutions' will likely reach $647.22 million. The estimate is in contrast to the year-ago figure of $445.19 million.
Analysts predict that the 'Operating income (loss)- Underground Utility and Infrastructure Solutions' will reach $110.92 million. Compared to the current estimate, the company reported $42.59 million in the same quarter of the previous year.
View all Key Company Metrics for Quanta Services here>>>
Shares of Quanta Services have demonstrated returns of +15.2% over the past month compared to the Zacks S&P 500 composite's -2% change. With a Zacks Rank #3 (Hold), PWR is expected to mirror the overall market performance 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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