Quanta Services Reports Significant Growth in 2024 Financial Results and Outlook for 2025
Quanta Services, Inc. has made headlines with its latest financial disclosures for the fourth quarter and full year of 2024. The company reported consolidated revenues of $6.55 billion in Q4 2024, marking an increase from the $5.78 billion reported in the same quarter the previous year. This impressive growth trajectory also reflects Quanta's robust performance over the entire year, culminating in total revenues of $23.67 billion for 2024, an increase from $20.88 billion in 2023.
Net income attributable to common stock for the fourth quarter was $305.1 million, equating to $2.03 per diluted share, compared to a net income of $210.9 million, or $1.42 per diluted share, in Q4 2023. For the full year, the company achieved a net income of $904.8 million, a substantial rise from $744.7 million in the previous year, and an adjusted diluted earnings per share of $8.97, up from $7.16.
Duke Austin, President and CEO of Quanta Services, emphasized the strength of the company’s business model and the dedication of its employees. Their commitment has enabled Quanta to navigate through fluctuating market conditions and emerge successfully, with free cash flow reaching $575 million in Q4 2024 and a record backlog of $34.54 billion.
Looking ahead, Quanta Services is optimistic about 2025. The company’s guidance suggests double-digit growth across several key financial metrics, which include revenues, net income, adjusted EBITDA, and earnings per share. This optimism is bolstered by increasing demand for power and infrastructure solutions as industries undergo significant transformations.
Quanta is also actively expanding its service offerings, having completed eight acquisitions in 2024 and continuing to seek further opportunities for growth. Recent notable projects include being selected by Lumen Technologies, Inc. to provide construction services for nationwide long-haul fiber networks—a testament to Quanta's pivotal role in developing infrastructure that meets modern needs.
In addition to financial performance, Quanta Services is adjusting how it reports its business segments. Starting 2025, the company will streamline its presentation into two segments: Electric Infrastructure Solutions and Underground Utility and Infrastructure Solutions, a move designed to better align with its strategic operations and customer needs.
Management expects revenues to range between $26.60 billion and $27.10 billion for 2025, with net income forecasted to fall within $1.04 billion to $1.13 billion. Investors can look forward to adjusted diluted earnings per share ranging between $9.90 and $10.50, signaling continued strength in Quanta's operational capabilities. Even amidst potential challenges such as economic uncertainty and regulatory changes, Quanta is well-positioned to maintain its trajectory of growth.
As Quanta Services prepares to embark on another year of expected success, the company invites investors and stakeholders to follow along as it navigates the evolving landscape of the energy and infrastructure sectors, with an unwavering commitment to excellence.
Net income attributable to common stock for the fourth quarter was $305.1 million, equating to $2.03 per diluted share, compared to a net income of $210.9 million, or $1.42 per diluted share, in Q4 2023. For the full year, the company achieved a net income of $904.8 million, a substantial rise from $744.7 million in the previous year, and an adjusted diluted earnings per share of $8.97, up from $7.16.
Duke Austin, President and CEO of Quanta Services, emphasized the strength of the company’s business model and the dedication of its employees. Their commitment has enabled Quanta to navigate through fluctuating market conditions and emerge successfully, with free cash flow reaching $575 million in Q4 2024 and a record backlog of $34.54 billion.
Looking ahead, Quanta Services is optimistic about 2025. The company’s guidance suggests double-digit growth across several key financial metrics, which include revenues, net income, adjusted EBITDA, and earnings per share. This optimism is bolstered by increasing demand for power and infrastructure solutions as industries undergo significant transformations.
Quanta is also actively expanding its service offerings, having completed eight acquisitions in 2024 and continuing to seek further opportunities for growth. Recent notable projects include being selected by Lumen Technologies, Inc. to provide construction services for nationwide long-haul fiber networks—a testament to Quanta's pivotal role in developing infrastructure that meets modern needs.
In addition to financial performance, Quanta Services is adjusting how it reports its business segments. Starting 2025, the company will streamline its presentation into two segments: Electric Infrastructure Solutions and Underground Utility and Infrastructure Solutions, a move designed to better align with its strategic operations and customer needs.
Management expects revenues to range between $26.60 billion and $27.10 billion for 2025, with net income forecasted to fall within $1.04 billion to $1.13 billion. Investors can look forward to adjusted diluted earnings per share ranging between $9.90 and $10.50, signaling continued strength in Quanta's operational capabilities. Even amidst potential challenges such as economic uncertainty and regulatory changes, Quanta is well-positioned to maintain its trajectory of growth.
As Quanta Services prepares to embark on another year of expected success, the company invites investors and stakeholders to follow along as it navigates the evolving landscape of the energy and infrastructure sectors, with an unwavering commitment to excellence.
Topics Financial Services & Investing）
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