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Quanta Services Inc Issues Q4 2012 Guidance Above Analysts' Estimates; Raises FY 2012 Revenue Guidance; Lowers High End Of Prior FY 2012 EPS Guidance

Wednesday, 31 Oct 2012 06:07am EDT 

Quanta Services Inc announced that as a result of Quanta's strong performance in the third quarter and improved visibility in the fourth quarter, the Company has raised guidance for fiscal 2012. For the fourth quarter of 2012, the Company expects revenues to range between $1.55 billion and $1.65 billion and diluted earnings per share (EPS) to be $0.37 to $0.39. Included in estimate of GAAP diluted earnings per share for the fourth quarter of 2012 is a net tax benefit of approximately $0.02 per share associated with certain tax contingency releases due to the expiration of certain statutes of limitations during the fourth quarter. It expects adjusted diluted earnings per share (a non-GAAP measure) for the fourth quarter of 2012 to be $0.40 to $0.42. For fiscal 2012, it expects revenues to range between $6.2 billion and $6.3 billion, diluted EPS to be between $1.35 and $1.37 and adjusted diluted EPS to range from $1.50 to $1.52. Quanta's previous fiscal 2012 revenues, diluted EPS and adjusted diluted EPS forecast was $5.9 billion to $6.1 billion, $1.15 to $1.25 and $1.35 to $1.45. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenues of $1.48 billion and EPS of $0.33 for fourth quarter of 2012; revenue of $5.06 billion and EPS of $1.22 for fiscal 2012. 

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0.36 +1.02%
22 Jul 2014