Quanta Services (PWR) Earnings: Q2 Results Beat Estimates, FY Revenue Forecast Raised

Quanta Services on Smartkarma

Analysts on Smartkarma are bullish on Quanta Services, as shown by research reports from Baptista Research. One report titled, “Quanta Services: Will The Increased Demand For Data Centers Continue To Catalyze Top-Line Growth? – Major Drivers,” highlights the company’s strong performance in Q1 2024, including double-digit growth in revenue and earnings. The report emphasizes Quanta’s total backlog of $29.9 billion, signaling positive momentum fueled by factors like the rise in power demand from new technologies and energy transition policies.

Another report by Baptista Research, “Quanta Services: How Long Will The Renewable Growth Story Continue? – Financial Forecasts,” underscores Quanta Services‘ solid financial results for 2023, with double-digit revenue growth and strong backlog of $30.1 billion. The report highlights Quanta’s consistent record revenue over the years and robust financial performance, supported by a dedicated workforce of over 50,000 employees. These reports suggest a positive outlook for Quanta Services among independent analysts on Smartkarma.

A look at Quanta Services Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on the Smartkarma Smart Scores, Quanta Services shows a promising long-term outlook. With a solid Growth score of 4 and respectable scores in Resilience and Momentum at 3 each, Quanta seems to be on a path of steady progress and expansion in the specialized contracting services sector. The company’s focus on value and dividends, which scored a 2 each, indicates a balanced approach to financial management.

Quanta Services, Inc. operates primarily in North America, offering specialized contracting services to a range of industries. With a reliable track record in sectors such as electric utilities and telecommunications, Quanta’s emphasis on growth and resilience positions it well for future opportunities in these markets. Overall, the company’s Smart Scores suggest a positive outlook for investors seeking long-term prospects in the contracting and infrastructure sector.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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