Quanta Services, Inc. Q1 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

Overall Performance

  • Record quarterly revenue of $4.0 billion, up significantly versus Q1 2021.
  • GAAP diluted EPS: $0.57, down from $0.89 in Q1 2021 due to acquisition-related impacts and non-recurring items.
  • Adjusted diluted EPS: $1.37, a record for Q1 (up from $0.90 in Q1 2021).
  • Total backlog reached a new record of $20.5 billion (vs. $16.3 billion in Q1 2021), with 12‑month backlog also at a record $11.5 billion.

Segment Highlights

Electric Power Infrastructure Solutions
  • Revenue: $2.1 billion, up 28% from Q1 2021.
  • Operating margin: 9.5%, up from 9.2% in Q1 2021.
  • Growth driven by utility grid modernization, system hardening, and strong MSA activity.
  • Communications business within the segment produced mid‑single digit margins, on track for upper‑single digits for FY22.
  • Backlog expected to grow materially as utilities commit to EV charging support and wildfire/severe weather resilience.
Renewable Energy Infrastructure Solutions
  • Revenue: $876 million, sharply higher due to $470 million from acquisitions (primarily Blattner).
  • Operating margin: 8% (vs. 11.8% in Q1 2021), reflecting project mix changes and integration of acquired businesses.

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Operator: Good day, ladies and gentlemen, and welcome to the Quanta Services First Quarter 2022 Earnings Conference Call. All lines have been placed on a listen-only mode and the floor will be opened for questions and comments following the presentation. [Operator Instructions] At this time, it is my pleasure to turn the floor over to your host, Kip Rupp, President, Investor Relations. Thank you. One moment. Kip Rupp: Thank you, and welcome, everyone, to the Quanta Services first quarter 2022 earnings conference call. This morning we issued a press release announcing our first quarter 2022 results, which can be found in the Investor Relations section of our website at quantaservices.com, along with a summary of our 2022 outlook and commentary we’ll be discussing this morning. Additionally, we will use a slide presentation to accompany our prepared remarks, which is viewable through the call’s webcast and is also available on the Investor Relations section of the Quanta Services website. Please remember that information reported on this call speaks only as of today, May 5, 2022, and therefore, you’re advised that any time-sensitive information may no longer be accurate as of any replay of this call. This call will include forward-looking statements intended to qualify under the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These include all statements reflecting Quanta’s expectations, intentions, assumptions or beliefs about fu

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