Our outlook for 2020 reflects expectations for another record year with continued solid growth of our base business, improved profitability and growth in adjusted EBITDA, earnings per share and cash flow. See more from Benzinga * Click here for options trades from Benzinga * 'Halftime Report' Traders See Upsides In Caterpillar, General Motors And Honeywell * Scott Nations: Watch For Bullish Copper Data In The Week Ahead(C) 2020 Benzinga.com. Quanta Computer Inc. balance sheet, income statement, cash flow, earnings & estimates, ratio and margins. EBITDA (a non-GAAP measure) is expected to range between $961 million and $1.05 billion, and adjusted EBITDA (a non-GAAP measure) is expected to range between $1.03 billion and $1.12 billion. The company has a zero-emission electric backhoe called Project Zeus and is also looking to power some vehicles with hydrogen.Deere & Company (NYSE: DE) has shown off several prototypes of electric or autonomous tractors over the years, but hasn't released hard figures on costs or release dates.Price Action: Shares of Ideanomics are up over 140% year-to-date.Photo courtesy Solectrac.See more from Benzinga * Click here for options trades from Benzinga * Benzinga Global Small Cap Conference Day 2 Recap: Ideanomics, LiveXLive, EVs And Much More(C) 2020 Benzinga.com. All rights reserved. Because EBITDA and adjusted EBITDA, as defined, exclude some, but not all, items that affect net income attributable to common stock, such measures may not be comparable to similarly titled measures of other companies. Top news and what to watch in the markets on Monday, December 14, 2020. These Fast Food Restaurant Chains Are Closing For Good. Quanta Global Service Contact Information Contact Us. Forward-Looking StatementsThis press release (and oral statements regarding the subject matter of this press release, including those made on the conference call and webcast announced herein) contains forward-looking statements intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995. Quanta Global Service Contact Information Contact Us. The charge consisted of a $48.8 million decrease in revenues and a $30.4 million increase in cost of services. For purposes of calculating remaining performance obligations, Quanta includes all estimated revenues attributable to consolidated joint ventures and variable interest entities, revenues from funded and unfunded portions of government contracts to the extent they are reasonably expected to occur and revenues from change orders to the extent management believes additional contract revenues will be earned and are deemed probable of collection. Name: Street address: City: State (USA only): Region (Outside the … For those who cannot participate live, shortly following the call a digital recording will be available on the company's website and a telephonic replay will be available through March 7, 2020 by dialing 1-877-660-6853 and referencing the conference ID 13698189. Join Us; Service. Annual Net Income Attributable to Common Stock of $402.0 Million. Net cash provided by operating activities (a), Proceeds from sale of property and equipment, Proceeds from insurance settlements related to property and equipment. Quanta Services is one of the leading providers of specialized services for infrastructures in the United States. Quanta Services Reports 2019 Fourth Quarter And Annual Results. Join Us; Service . Although Quanta's management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These measures should not be considered as an alternative to net income attributable to common stock or other measures of performance that are derived in accordance with GAAP. RESULTS FOR THE YEAR ENDED DECEMBER 31, 2019 AND 2018Revenues in the year ended December 31, 2019 were a record $12.11 billion, compared to revenues of $11.17 billion in the year ended December 31, 2018, and net income attributable to common stock was $402.0 million in the year ended December 31, 2019, or a record $2.73 per diluted share, compared to net income attributable to common stock of $293.3 million, or $1.90 per diluted share, in the year ended December 31, 2018. (c) The amount for the twelve months ended December 31, 2018 reflects severance and restructuring costs primarily related to the closure of certain operations within Quanta's Pipeline and Industrial Infrastructure Services segment. Typically, Americans keep 7%-8% of their income in savings. To participate in the call, dial 1-201-689-8345 or 1-877-407-8291 at least 10 minutes before the conference call begins and ask for the Quanta Services Fourth Quarter and Full-Year 2019 Earnings Conference Call or visit the Investors Relations section of the Quanta Services website at http://investors.quantaservices.com to access the Internet broadcast. http://www.prnewswire.com/news-releases/quanta-services-reports-2019-fourth-quarter-and-annual-results-301012338.html, Stock market news live updates: Stock futures jump as vaccine roll-out begins, stimulus hopes rise, Phillips 66 lowers 2021 spending budget after pandemic hit, FOREX-Dollar falls; sterling up 1.5% as Brexit deal hopes lift risk appetite, Russia trials COVID-19 vaccine for domestic animals, including mink, Pfizer CEO says in talks with U.S. on more COVID-19 shots, China Fines Alibaba, Tencent Unit Under Anti-Monopoly Laws, Retirement rule changes 2020: What you need to know about 401(k) plans and IRAs as the year ends amid COVID-19, Beware these 15 worst states for taxes on your retirement. Revenues in the fourth quarter of 2019 were $3.11 billion, compared to revenues of $3.11 billion in the fourth quarter of 2018, and net income attributable to common stock … Investor Relations Governance ... Quanta Services is the leading, end-to-end solutions provider in the electric power sector. QMI RoyalTek QCT Quanta Storage Inc. News. Please fill out the form below and click "Place Order" to complete your order. 27-02-2020 12:55 via news.yahoo.com. The Notice, Proxy Statement and 2018 Annual Report to Stockholders are available at www.proxyvote.com. (k) Both diluted and adjusted diluted earnings per share attributable to common stock for the twelve months ended December 31, 2019 include a $79.2 million, or $0.54 per diluted share, charge associated with the termination of a large telecommunications project in Peru and $60.3 million ($43.9 million after-tax), or $0.30 per diluted share, of earnings related to the recognition of previously deferred earnings on the Fort McMurray West electric transmission project in Canada. Revenues in the fourth quarter of 2019 were $3.11 billion, compared to revenues of $3.11 billion in the fourth quarter of 2018, and net... December 12, 2019. With operations throughout the United States, Canada, Australia and select other international markets, Quanta has the manpower, resources and expertise to safely complete projects that are local, regional, national or international in scope. Notebook Server IOT Camera Industrial computer. Join Us; Service. It is possible that the information we post on social media could be deemed material. Quanta expects 2020 revenues to range between $12.2 billion and $12.6 billion, net income attributable to common stock to range between $439 million and $499 million and diluted earnings per share attributable to common stock to range between $2.93 and $3.33. All rights reserved. Quanta Services, Inc. and Subsidiaries Supplemental Data For the Three and Twelve Months Ended December 31, 2019 and 2018 (In millions) (Unaudited). Net capital expenditures is defined as capital expenditures less proceeds from the sale of property and equipment and from insurance settlements related to property and equipment. Included in the three and twelve months ended December 31, 2018 were $1.0 million and $17.2 million of acquisition and integration costs and $3.6 million and $11.2 million of declines in the fair value of contingent consideration liabilities. I can’t wait to speak with you in more detail next week, so please don’t hesitate to reserve your spot for our special Early Warning Summit event today. Shares of AMD trade around $91 at time of publication, off the 52-week low of $37.AMD Stock Forecast AMD designs and produces microprocessors for the computer and consumer electronics industries. Because EBITDA and adjusted EBITDA, as defined, exclude some, but not all, items that affect net income attributable to common stock, such measures may not be comparable to similarly titled measures of other companies. AMD attributed the performance to its computing and graphics segments.Given AMD the demand for both the design and production of microprocessors, 70% investors told us they are confident that shares of AMD can reach the $200 mark by 2022.One investor said AMD has a "growing consumer base with more appealing prices and better performance overall. QUANTA SERVICES REPORTS 2019 FOURTH QUARTER AND ANNUAL RESULTS Record Annual Revenues, Operating Income and Backlog Annual Net Income Attributable to Common Stock of $402.0 Million Record Annual Adjusted EBITDA of $941.8 Million With the exception of adjusted diluted earnings per share, also impacting the financial results for the three and twelve months ended December 31, 2019 was the $13.0 million ($20.7 million with associated tax benefits), or $0.14 per diluted share, gain recognized in the fourth quarter of 2019 related to the sale of our investment in the Fort McMurray West Electric Transmission Project. CONTENTS Message from the Chair & CEO Management’s Discussion and Analysis 1 Consolidated Financial Statements 83 Consolidated Annual Results 163 Consolidated Operating Summary 165 General Information 166. "Related Link: Ideanomics Rallies Back Above Key Level As Volatility ContinuesAbout Solectrac: The global agricultural tractor industry is worth $75 billion. Section 16 Filings . These financial results, including GAAP and adjusted diluted earnings per share, include a $79.2 million, or $0.54 per diluted share, charge recognized in the second quarter of 2019 associated with the termination of a large telecommunications project in Peru and the recognition of $60.3 million ($43.9 million after-tax) in the first quarter of 2019, or $0.30 per diluted share, of previously deferred earnings on the Fort McMurray West Electric Transmission Project. Additionally, included in the twelve months ended December 31, 2018 was the impact of $1.3 million in severance and restructuring costs related to the closure of certain operations. QCI. (h) The amount for the twelve months ended December 31, 2019 reflects the impact on deferred taxes of a change in a Canadian provincial statutory tax rate. EBITDA is defined as earnings before interest, taxes, depreciation, amortization and equity in (earnings) losses of unconsolidated affiliates, and adjusted EBITDA is defined as EBITDA adjusted for certain other items as described below. Because adjusted diluted earnings per share attributable to common stock, as defined, excludes some, but not all, items that affect net income attributable to common stock, adjusted diluted earnings per share attributable to common stock as presented in this press release may not be comparable to similarly titled measures of other companies. Therefore, Quanta's results include the results of the acquired businesses from their respective acquisition dates. Also included in the three and twelve months ended December 31, 2019 was an asset impairment charge of $2.1 million related to an internally-developed software application that has been replaced. Management uses this measure for capital allocation purposes as it is viewed as a measure of cash available to fund debt payments, including required quarterly payments under our outstanding term loans; acquire businesses; repurchase common stock; declare and pay dividends; and transact other investing and financing activities. About Form 8-K. d792772d8k.htm 8-K Zoom In Zoom Out. The following table presents the non-GAAP financial measures of estimated EBITDA and adjusted EBITDA, which, when used in connection with estimated net income attributable to common stock, is intended to provide useful information to investors and analysts as they evaluate Quanta's performance. Benzinga does not provide investment advice. Today, IBM has laid the foundation for a new era of technology and business. Investor Relations Governance ... Quanta Services is the leading, end-to-end solutions provider in the electric power sector. "Richter said the inclusion in S&P 500 had created a demand for the company's shares and "Tesla was more than happy to sell them into this demand at this huge big-fat share price. … It May End the Same Way. Could tractors be next? Record Annual GAAP Diluted EPS of $2.73 and Adjusted Diluted EPS of $3.33. In November, Ideanomics increased its stake in Solectrac, one of its portfolio companies, to 24%. Added Wataynikaneyap Transmission Project to Backlog - In October 2019, the Wataynikaneyap Transmission Project achieved financial close, and as a result, Quanta has included the project in its backlog as of December 31, 2019. Link. The amount for the twelve months ended December 31, 2018 reflects the asset impairment charge recognized during the three months ended December 31, 2018 and a charge related to the exchange of a construction barge for an industrial property. Quarter-over-quarter, growth came to 45%. Management believes that free cash flow provides useful information to Quanta's investors because free cash flow is viewed by management as an important indicator of how much cash is provided or used by routine business operations, including the impact of net capital expenditures. At Quanta Services, our culture is about supporting an environment where all employees can be themselves, are valued and have an equal opportunity to succeed. Quanta … These charges primarily relate to Quanta's Pipeline and Industrial Infrastructure Services segment. Quanta does not undertake and expressly disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. While backlog is not a defined term under GAAP, it is a common measurement used in Quanta's industry. Alexion Pharmaceuticals Shares Surge After $39 Billion AstraZeneca Takeover. Consumers also kept their wallets closed. ; Quanta expects 2020 revenues to range between $12.2 billion and $12.6 billion, net income attributable to common stock to range between $439 million and $499 million and diluted earnings per share attributable to common stock to range between $2.93 and $3.33. Quanta Services Inc 's Annual Balance Sheets, PWR as of Dec 31 2019 - CSIMarket (b) The amount for the twelve months ended December 31, 2018 reflects severance and restructuring costs related to the closure of certain operations within Quanta's Pipeline and Industrial Infrastructure Services segment. Annual Net Income Attributable to Common Stock of $402.0 Million. Shares in Alibaba and Tencent extended losses and closed down more than 2.5%.Read more: China Clampdown on Big Tech Puts More Billionaires on Notice“Investment and takeovers are important means for development and growth of internet companies,” the regulator said in the statement. (i) The amount for the twelve months ended December 31, 2019 reflects a $4.1 million tax benefit related to the favorable settlement of certain non-U.S. income tax obligations associated with an acquired business, partially offset by a $4.0 million ($3.2 million after-tax) reduction of a related indemnification asset. Learn More SEC.report. Remaining Performance Obligations and Backlog (a non-GAAP measure)Quanta's remaining performance obligations represent management's estimate of consolidated revenues that are expected to be realized from the remaining portion of firm orders for fixed price contracts not yet completed or for which work has not yet begun. As you may recall, the U.S. government passed a $2.2 trillion stimulus package in March. The amount for the twelve months ended December 31, 2018 reflects the asset impairment charge recognized during the three months ended December 31, 2018 and a charge related to the exchange of a construction barge for an industrial property. Greetings, and welcome to the Quanta Services second-quarter 2019 earnings conference call. For further information on the items that impacted comparability in 2019 and 2018, see the footnotes to the Supplemental Segment Data table and the non-GAAP reconciliations of adjusted EBITDA and adjusted diluted earnings per share attributable to common stock in the accompanying tables. Remaining Performance Obligations and Backlog (a non-GAAP measure)Quanta's remaining performance obligations represent management's estimate of consolidated revenues that are expected to be realized from the remaining portion of firm orders for fixed price contracts not yet completed or for which work has not yet begun. The country's top market regulator announced Monday that it is fining Alibaba and China Literature, Tencent's e-book spinoff, for failing to report their past acquisition deals for clearance. Well-Positioned in Large and … “The above-mentioned companies have a large influence in the industry, carry out many investments and takeovers, have specialized legal teams and should be familiar with the regulations governing M&A. HOUSTON, TX. Overview ; Electric Power . Management believes that the exclusion of these items from net income attributable to common stock enables it to more effectively evaluate Quanta's operations period over period and to identify operating trends that might not be apparent when including the excluded items. So, it’s no surprise that many investors ran to the sidelines. On the date of publication, Matthew McCall did not have (either directly or indirectly) any positions in the securities mentioned in this article. Join Us; Service. HOUSTON, Feb. 27, 2020 /PRNewswire/ -- Quanta Services, Inc. (NYSE: PWR) today announced results for the three and twelve months ended December 31, 2019. Elon Musk said Tesla demand has a high class problem. "More importantly, we believe our strategic position in the marketplace remains strong and we are well positioned for continued profitable growth in the coming years. ET. Dividend-paying stocks haven’t been superstars lately and in theory they shouldn’t be, but companies that pay them could shine once more. Pfizer coronavirus vaccine distribution is starting. Quanta Services, Inc. Industry (SIC) 1731 - Electrical Work: Latest report: 12/31/2019 (filed 2/28/2020) Revenue: $12,112 million (ranked #1 out of 10 companies in the industry) Assets: $8,332 million (ranked #1) Message from the Chair & CEO Dear ATCO Share Owners, Reflecting upon the past year, I cannot help but remark upon the … Record Annual Adjusted EBITDA of $941.8 Million. 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