QUANTA SERVICES Reports Second Quarter Fiscal Year 2023 Earnings Results
August 10, 2023
🌥️Earnings Overview
On August 3, 2023, QUANTA SERVICES ($NYSE:PWR) released its earnings report for the second quarter of fiscal year 2023, which concluded on June 30, 2023. There was a 19.3% year-over-year increase in the company’s total revenue, with USD 5048.6 million reported. Net income also rose 88.5% to USD 165.9 million compared to the same period last year.
Share Price
The stock opened at $200.3 and closed at $203.3, representing an increase of 0.5% from its prior closing price of $202.3. This announcement marks a significant milestone for QUANTA SERVICES, as the company continues to experience steady and substantial growth in the midst of a tumultuous economic environment. Overall, the quarter was marked by strong performance across the board, with revenue and earnings both increasing compared to the same period last year.
These positive earnings results demonstrate QUANTA SERVICES’ success in a difficult market, and the company’s commitment to creating long-term value for its shareholders. With a solid foundation, QUANTA SERVICES is well positioned to continue its growth into the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Quanta Services. More…
| Total Revenues | Net Income | Net Margin |
| 18.35k | 579.47 | 3.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Quanta Services. More…
| Operations | Investing | Financing |
| 1.08k | -617.19 | -311.07 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Quanta Services. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 14.74k | 9.01k | 39.41 |
Key Ratios Snapshot
Some of the financial key ratios for Quanta Services are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 16.1% | 17.3% | 5.3% |
| FCF Margin | ROE | ROA |
| 3.7% | 10.7% | 4.1% |
Analysis
At GoodWhale, we have conducted an analysis of QUANTA SERVICES‘s fundamentals. Our analysis indicates that QUANTA SERVICES is a high risk investment when considering both financial and business aspects. We have detected two risk warnings in the company’s balance sheet, including non-financial issues. If you would like to learn more about these risks, please register with GoodWhale to gain access to our detailed report. More…
Peers
The company competes with MasTec Inc, Infrastructure and Energy Alternatives Inc, Assystem SA, and other companies in the infrastructure services market. Quanta Services Inc. has a strong market position and offers a variety of services to its customers. The company is well-positioned to compete in the infrastructure services market.
– MasTec Inc ($NYSE:MTZ)
MasTec Inc is a diversified infrastructure construction company with operations in the United States, Canada, and the Caribbean. The company has a market capitalization of $6.13 billion as of 2022 and a return on equity of 6.63%. MasTec’s operations are focused on the construction and engineering of energy, industrial, and commercial infrastructure. The company’s energy infrastructure segment includes the construction of oil and gas pipelines, power generation facilities, and renewable energy projects. The industrial infrastructure segment includes the construction of manufacturing plants, warehouses, and distribution centers. The commercial infrastructure segment includes the construction of office buildings, retail centers, and hotels.
– Infrastructure and Energy Alternatives Inc ($NASDAQ:IEA)
Assystem SA is a French engineering company. The company has a market cap of 551.96M as of 2022 and a Return on Equity of 8.74%. The company provides engineering and consulting services to the aerospace, defense, nuclear, and oil and gas industries.
Summary
QUANTA SERVICES delivered strong financial results for the second quarter of fiscal year 2023, with total revenue increasing 19.3% and net income rising 88.5%. Investors should consider this an attractive opportunity, as the strong performance indicates that QUANTA SERVICES is well-positioned to continue driving revenue growth in the future. Furthermore, the large increase in net income indicates an efficient use of resources, which should support the company’s future profitability.
With a strong balance sheet, shareholders can rest assured that their investments are safe and sound. Investors looking for exposure to the construction industry may want to consider investing in QUANTA SERVICES.
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