Before today's market open, the specialty contractor to utility and energy companies posted adjusted earnings of 30 cents per diluted share, topping analysts' projections of 28 cents per share.
Revenue for the period was $1.9 billion, which also surpassed Wall Street's expectations of $1.78 billion.
"With our leadership position, customer relationships and strong balance sheet, we believe Quanta is uniquely positioned to serve the expanding needs of our customers in a complex, ever-changing energy infrastructure market," CEO Jim O'Neil said in a statement.
For the full year, Quanta forecasts earnings per share between $1.58 and $1.78 on revenue in the range of $7.5 billion to $8 billion. Analysts are looking for earnings of $1.67 per share on revenue of $7.63 billion.
The company is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power, natural gas and oil pipeline industries.
About 4.26 million of the company's shares were traded by this afternoon versus its average volume of 3.79 million shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its increase in net income, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations.
However, as a counter to these strengths, the team also finds weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and poor profit margins.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: PWR