First Quarter Consolidated Revenues of $4.0 Billion* With Strong Revenue Growth in Every Segment
First Quarter GAAP Diluted EPS of $0.57 and Adjusted Diluted EPS of $1.37*
Remaining Performance Obligations of $6.8 Billion and Total Backlog of $20.5 Billion*
Company Reiterates Full-Year 2022 Financial Expectations
* = Record first quarter result
HOUSTON, May 5, 2022 /PRNewswire/ — Quanta Services, Inc. (NYSE: PWR) today announced results for the three months ended March 31, 2022. Revenues in the first quarter of 2022 were $3.97 billion compared to revenues of $2.70 billion in the first quarter of 2021, and net income attributable to common stock was $84.6 million, or $0.57 per diluted share, in the first quarter of 2022 compared to net income attributable to common stock of $89.8 million, or $0.62 per diluted share, in the first quarter of 2021. Adjusted diluted earnings per share attributable to common stock (a non-GAAP financial measure) was $1.37 for the first quarter of 2022 compared to $0.83 for the first quarter of 2021.
“Quanta delivered a strong first quarter to start the year, with significant revenue growth in each segment, record total backlog of $20.5 billion and solid and safe execution by our portfolio of companies, which produced record first quarter adjusted earnings per share (EPS),” said Duke Austin, President and Chief Executive Officer of Quanta Services. “As a result of our first quarter results and continued confidence in the diversity and strength that our portfolio of companies provides, we are reiterating our 2022 consolidated financial expectations.
“As discussed during our recent Investor