RTTNews | Feb 25, 2021 07:31AM EST

07:30 Thursday, February 25, 2021 (RTTNews.com) - Infrastructure services provider Quanta Services, Inc. (PWR) reported its fourth-quarter net income of $170.1 million, or $1.17 per share, a jump from $118.1 million, or $0.80 per share in the same quarter a year ago.

Excluding items, earnings on an adjusted basis were $1.22 per share. On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.99 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues in the fourth quarter, however, decreased to $2.91 billion from $3.11 billion in the comparable quarter last year. The consensus estimate stood at $2.92 billion.

Looking forward, Quanta expects 2021 revenues to range between $11.95 billion and $12.35 billion and adjusted earnings to be in the range of $4.02 to $4.52. Analysts expect the company to report earnings of $4.14 per share on revenue of $11.91 billion for the period.

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