The upcoming report from Quanta Services (PWR) is expected to reveal quarterly earnings of $1.67 per share, indicating an increase of 18.4% compared to the year-ago period. Analysts forecast revenues of $5.88 billion, representing an increase of 16.8% year over year.
The current level reflects an upward revision of 0.6% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some Quanta Services metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts forecast 'Revenues- Underground Utility and Infrastructure Solutions' to reach $1.19 billion. The estimate indicates a year-over-year change of +6.1%.
According to the collective judgment of analysts, 'Revenues- Electric Power Infrastructure Solutions' should come in at $4.69 billion. The estimate points to a change of +101.6% from the year-ago quarter.
It is projected by analysts that the 'Total Backlog' will reach $34.19 billion. The estimate compares to the year-ago value of $29.90 billion.
Analysts' assessment points toward 'Backlog - Underground Utility and Infrastructure Solutions' reaching $5.67 billion. The estimate is in contrast to the year-ago figure of $6.10 billion.
The collective assessment of analysts points to an estimated 'Backlog - Electric Power Infrastructure Solutions' of $28.52 billion. The estimate compares to the year-ago value of $15.34 billion.
The combined assessment of analysts suggests that 'Operating income (loss)- Underground Utility and Infrastructure Solutions' will likely reach $63.10 million. Compared to the present estimate, the company reported $46.89 million in the same quarter last year.
Analysts predict that the 'Operating income (loss)- Electric Power Infrastructure Solutions' will reach $391.20 million. Compared to the current estimate, the company reported $228.03 million in the same quarter of the previous year.
View all Key Company Metrics for Quanta Services here>>>
Quanta Services shares have witnessed a change of +13% in the past month, in contrast to the Zacks S&P 500 composite's -4.3% move. With a Zacks Rank #3 (Hold), PWR is expected closely follow the overall market performance in the near term. 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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