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Investing.com - Quanta Services , Inc. (NYSE:PWR) reported strong fourth-quarter 2024 results on Thursday, surpassing earnings expectations while falling slightly short on revenue.
The infrastructure solutions provider also issued an upbeat outlook for 2025, projecting double-digit growth across key financial metrics.
For Q4, Quanta posted adjusted earnings per share of $2.94, beating the analyst consensus of $2.62 by $0.32. Revenue came in at $6.55 billion, just below the $6.61 billion estimate but up 13.3% YoY from $5.78 billion.
Net income attributable to common stock rose to $305.1 million, or $2.03 per diluted share, compared to $210.9 million, or $1.42 per diluted share, in Q4 2023. Adjusted EBITDA increased to $737.8 million.
The company reported record year-end remaining performance obligations of $16.76 billion and total backlog of $34.54 billion. Cash flow from operations was $712.0 million, with free cash flow of $575.4 million for the quarter.
"Quanta’s fourth-quarter results reflect the strength of our business, delivering double-digit growth across key financial metrics, $575 million in free cash flow and record backlog," said Duke Austin, President and CEO of Quanta Services.
For full-year 2025, Quanta expects revenues between $26.60 billion and $27.10 billion, with adjusted diluted EPS ranging from $9.90 to $10.50. The company also projects adjusted EBITDA of $2.66 billion to $2.80 billion.
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