This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Quanta Services' CEO Discusses Q3 2011 Results - Earnings Call Transcript

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.

While large transmission projects are grabbing the headlines, we are also experiencing an increase in activity for projects less than $100 million in value that we typically don't announce. For example, AEP awarded Quanta work in 2 states to rebuild a number of transmission lines totaling more than 300 miles, and Oklahoma Gas and Electric recently awarded Quanta the Seminole to Muskogee Transmission Project, which is a 125-mile, 345-kilovolt line. Construction on this project is expected to start in the middle of 2012 with completion expected in late 2013. The aggregate of these projects is approximately $170 million.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.99 0.00%
FB $101.22 1.70%
GOOG $678.11 0.00%
TSLA $150.00 1.20%
YHOO $26.82 0.00%


Chart of I:DJI
DOW 16,014.38 -12.67 -0.08%
S&P 500 1,852.21 -1.23 -0.07%
NASDAQ 4,268.7630 -14.99 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs