QUANTA SERVICES Reports Second Quarter FY2023 Earnings Results
August 15, 2023
🌥️Earnings Overview
For the second quarter of FY2023, QUANTA SERVICES ($NYSE:PWR) reported total revenue of USD 5048.6 million, a 19.3% increase compared to the same quarter in the prior year. Net income for the period also surged 88.5%, to USD 165.9 million.
Market Price
QUANTA SERVICES reported their second quarter FY2023 earnings results on Thursday. The stock opened at $200.3 and closed at $203.3, representing a 0.5% increase from its prior closing price of $202.3. The company reported impressive results in terms of revenue and profitability. This was driven by strong cost management and leveraging technology to drive efficiency and maximize operational efficiency. It also demonstrates QUANTA SERVICES’ ability to stay ahead of market trends and capitalize on new opportunities.
In addition, QUANTA SERVICES has also managed to reduce its debt levels significantly, which indicates a strong financial position and the ability to remain resilient in the face of economic uncertainty. All these factors combined paint a positive picture for the company’s future prospects and make it a compelling investment opportunity. 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 performed a comprehensive assessment of QUANTA SERVICES to evaluate their wellbeing. We used our Risk Rating system to determine their risk level and found that it is a high risk investment. Additionally, we detected two risk warnings in QUANTA SERVICES’ balance sheet, which are non-financial issues. If you’re interested in learning more about the risks associated with QUANTA SERVICES, please register with us to access our detailed analysis. Our team of experts will provide you with detailed information regarding their current financial and business standing. We want to ensure that you make an informed decision before you invest in QUANTA SERVICES. 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 has reported strong second quarter results for FY2023, with total revenue increasing 19.3% year over year to USD 5048.6 million. Net income was also up 88.5%, to USD 165.9 million. These financials demonstrate QUANTA SERVICES’ success in the face of challenging economic conditions, and suggest potential for investors to capitalize on this growth.
With a strong balance sheet, healthy cash flow, and a focus on capitalizing on opportunities, QUANTA SERVICES is well positioned for potential future returns. Analysts should consider the company’s long-term prospects and potential for continued growth in order to make informed investment decisions.
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