During the quarter, our Electric Power segment grew revenues by approximately 55% compared to the same period last year. Our Electric Power segment 12-month backlog as of the end of the third quarter increased nearly 49% and total backlog increased nearly 17% as compared to the third quarter of 2010. We believe we are in the early stages of a major multiyear transmission buildout in the United States and Canada and expect backlog to continue to remain strong throughout 2012. The large electric transmission projects that we are progressing are progressing in a manner that is consistent with the expectations we set on our second quarter conference call without any meaningful delays during the quarter.During the third quarter, the joint venture including Quanta operating unit, Valard Construction, finalized the contract with BC Hydro for the engineering, procurement and construction of the Northwest Transmission Line. Under our scope of the contract, we will construct the 344-kilometer 287-kilovolt transmission line, which is designated to provide a secure interconnection point for clean energy generation projects and supply electricity to support future industrial developments in Northern British Columbia. We have commenced preconstruction activities but do not expect to move toward full construction until the spring of 2012, with completion expected in the fourth quarter of 2013.
Quanta Services' CEO Discusses Q3 2011 Results - Earnings Call Transcript
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.