Quanta Services narrows FY24 adjusted EPS view to $8.50-$8.80 from $8.32-$8.87

Consensus $8.63. Narrows FY24 revenue view to $23.5B-$23.9B from $23.5B-$24.1B, consensus $23.84B. Narrows FY24 adjusted EBITDA view to $2.25B-$2.32B from $2.21B-$2.33B. The company said, “For the full year ending December 31, 2024, Quanta now expects revenues to range between $23.5 billion and $23.9 billion and net income attributable to common stock to range between $853 million and $899 million. Quanta also now expects diluted earnings per share attributable to common stock to range between $5.68 and $5.99 and adjusted diluted earnings per share attributable to common stock to range between $8.50 and $8.80. Quanta now expects EBITDA to range between $2.06 billion and $2.13 billion and adjusted EBITDA to range between $2.25 billion and $2.32 billion. Additionally, for the full year ending December 31, 2024, Quanta now expects net cash attributable to operating activities to range between $1.78 billion and $2.00 billion and free cash flow (a non-GAAP financial measure) to range between $1.30 billion and $1.50 billion.”