On August 5, Quanta rose 3.12% in regular trading, trading at $701.505/share, with turnover of $269 million. The stock continued its upward momentum following the company's blowout second-quarter earnings report released on July 30.
Quanta reported Q2 adjusted EPS of $4.24, beating the analyst consensus estimate of $3.30 by approximately 28%. Revenue came in at $9.56 billion, well above the $8.61 billion expected and up from $6.77 billion a year earlier. More significantly, the company dramatically raised its full-year guidance, projecting adjusted EPS of $16.45 to $16.95, far exceeding both prior guidance of $13.55 to $14.25 and the market consensus of $14.01. Full-year revenue guidance was lifted to $39.3 billion to $39.7 billion, compared with the previous range of $34.7 billion to $35.2 billion and analyst expectations of $35.01 billion. The magnitude of the beat and the scale of guidance increases reflect strong demand across the company's electric power, renewable energy, and underground utility infrastructure segments.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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