Quanta Raised FY24 Revenues To $23.5B-$24.1B (From $22.5B-$23.0B) Vs. $23.14B Estimate; Adjusted EPS To $8.32-$8.87 (From $8.15-$8.65) Vs. $8.50 Estimate
Portfolio Pulse from Benzinga Newsdesk
Quanta Services has raised its FY24 revenue guidance to $23.5B-$24.1B from the previous $22.5B-$23.0B, surpassing the $23.14B estimate. Additionally, the company has increased its adjusted EPS guidance to $8.32-$8.87 from $8.15-$8.65, compared to the $8.50 estimate.
August 01, 2024 | 11:04 am
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POSITIVE IMPACT
Quanta Services has raised its FY24 revenue guidance to $23.5B-$24.1B and adjusted EPS to $8.32-$8.87, both surpassing estimates. This positive revision is likely to boost investor confidence and drive the stock price up in the short term.
The upward revision in both revenue and EPS guidance indicates strong business performance and future prospects, which is likely to positively influence investor sentiment and drive the stock price higher.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100