First Quarter Consolidated Revenues of $2.7 Billion and Record First Quarter Electric Power Revenues
Record First Quarter Electric Power Operating Income
First Quarter GAAP Diluted EPS of $0.62 and Adjusted Diluted EPS of $0.83
Remaining Performance Obligations of $4.1 Billion and Record Total Backlog of $15.8 Billion
HOUSTON, May 6, 2021 /PRNewswire/ — Quanta Services, Inc. (NYSE: PWR) today announced results for the three months ended March 31, 2021. Revenues in the first quarter of 2021 were $2.70 billion compared to revenues of $2.76 billion in the first quarter of 2020, and net income attributable to common stock was $89.8 million, or $0.62 per diluted share, in the first quarter of 2021 compared to net income attributable to common stock of $38.7 million, or $0.26 per diluted share, in the first quarter of 2020. Adjusted diluted earnings per share attributable to common stock (a non-GAAP measure) was $0.83 for the first quarter of 2021 compared to $0.47 for the first quarter of 2020.
“Quanta is off to a solid start for the year, with continued strong performance and safe execution from our Electric Power Infrastructure Solutions segment and better than expected profitability from our Underground Utility and Infrastructure Solutions segment. Based on this performance and continued confidence in our ability to safely execute, we are increasing our full-year financial expectations,” said Duke Austin, President and Chief Executive Officer of Quanta Services.
“Our strategic focus on enhancing our front-end capabilities allows us to provide industry leading solutions to our customers and increases our total addressable market and