Businessweek

Quanta Services, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenues of $1,585,710,000 compared to $1,328,764,000 a year ago. Operating income was $119,291,000 compared to $78,791,000 a year ago. Income from continuing operations before income taxes was $118,798,000 compared to $78,754,000 a year ago. Net income from continuing operations was $76,857,000 compared to $50,085,000 a year ago. Net income attributable to common stock was $72,081,000 or $0.34 per basic and diluted share compared to $45,707,000 or $0.22 per basic and diluted share a year ago. Net income from continuing operations attributable to common stock was $72,081,000 or $0.34 per basic and diluted share compared to $45,798,000 or $0.22 per basic and diluted share a year ago. Adjusted net income from continuing operations attributable to common stock before certain non-cash adjustments was $72,531,000 compared to $46,238,000 a year ago. Adjusted net income from continuing operations attributable to common stock for adjusted diluted earnings per share from continuing operations was $80,835,000 compared to $55,834,000 a year ago. Adjusted diluted earnings per share from continuing operations was $0.38 compared to $0.26 a year ago. Capital expenditures net of proceeds from equipment sales were about $56 million resulting in approximately $12 million in negative free cash flow for the first quarter of 2013. This compares to $104 million in negative free cash flow for the first quarter of 2012. Operating cash flow from continuing operations was approximately $44 million for the first quarter of 2013 as compared to the use of cash of $73 million for the first quarter of 2012. Specifically, cash flow has been impacted by higher days sales outstanding, or DSOs. The company expects revenues for the second quarter of 2013 to range between $1.45 billion and $1.55 billion and diluted earnings per share from continuing operations to be $0.30 to $0.32. The company expects adjusted diluted earnings per share from continuing operations (a non-GAAP measure) for the second quarter of 2013 to be $0.35 to $0.37. This non-GAAP measure is estimated on a similar basis as the calculations of historical adjusted diluted earnings per share from continuing operations presented in this press release. Amortization of intangibles and non-cash stock-based compensation are forecasted to be approximately $5.1 million and $11.1 million for the second quarter of 2013. Included in estimate of non-cash stock-based compensation for the second quarter and year of 2013 is approximately $4.2 million of expense, or one cent per diluted share, related to the accelerated vesting of equity-based awards associated with John R. Colson's retirement as the company's executive chairman of the board of directors effective May 23, 2013. The company expects revenues for the full year 2013 to range between $5.9 billion and $6.3 billion. Diluted earnings per share from continuing operations for the full year 2013 are estimated to be between $1.20 and $1.40. Quanta expects adjusted diluted earnings per share from continuing operations for the full year 2013 to range from $1.37 to $1.57. Amortization of intangibles and non-cash stock-based compensation expense are forecasted to be approximately $20.5 million and $32.8 million for the full year 2013. The company currently projecting GAAP tax rate to be between 35.5% and 36% for 2013. Expects CapEx for all of 2013 to be approximately $210 million to $225 million, which includes CapEx for the Fiber Licensing and Other segment of about $35 million to $45 million.

Quanta Services, Inc. announced that they will report Q1, 2013 results Pre-Market on May 02, 2013

Quanta Services, Inc., Q1 2013 Earnings Call, May 02, 2013

Quanta Services, Inc. Presents at FBR Energy & Industrials One-on-One Series, May-13-2013 . Venue: Four Seasons Hotel Boston, 200 Boylston Street, Boston, MA 02116, United States.

John R. Colson, founder, executive chairman and director of Quanta Services Inc. advised the board of directors that he will retire from the company effective as of the company’s annual meeting of stockholders to be held on May 23, 2013. In anticipation of his retirement, Mr. Colson will not stand for election to the board at the 2013 annual meeting of stockholders.