Quanta Services Reports Third Quarter 2020 Results

FREMONT, CA: Quanta Services, Inc. announced results for the three and nine months ended September 30, 2020. Revenues in the third quarter of 2020 were $3.02 billion compared to revenues of $3.35 billion in the third quarter of 2019, and net income attributable to common stock was $162.9 million or $1.13 per diluted share, in the third quarter of 2020 compared to net income attributable to common stock of $136.1 million or $0.92 per diluted share, in the third quarter of 2019. Adjusted diluted earnings per share attributable to common stock was $1.40 for the third quarter of 2020 compared to $1.14 for the third quarter of 2019. Quanta completed five acquisitions during the first nine months of 2020 and seven acquisitions during the full year 2019. Therefore, Quanta’s results include the results of the acquired business from their respective acquisition dates.

In October 2020, Quanta entered into a contract to construct the New England Clean Energy Connect Transmission project. In August 2020, Quanta completed the acquisition of a utility contractor that provides electric power distribution, transmission and substation maintenance and construction services, primarily in the southeastern and Mid-Atlantic regions of the United States. In September 2020, Quanta completed the acquisitions of a communications contractor that primarily serves the Mountain West region of the United States and specializes in the deployment of short and long-haul fiber optic cable and utilities and the emergency and design of small and large scale projects.