Quanta Services, Inc. Q2 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Highlights

  • Record quarterly revenue of $4.2 billion, the first time surpassing $4 billion (up from $3.98 billion in Q1 2022 and up 41% vs. Q2 2021).
  • Record quarterly adjusted EPS of $1.54, up from $1.06 in Q2 2021.
  • Record adjusted EBITDA for the quarter (specific figure not disclosed in transcript, but included in guidance).
  • Total backlog of $19.9 billion, down $0.6 billion from Q1 2022, due mainly to timing of MSA revenue conversion. Twelve‑month backlog a record $11.6 billion (slightly up sequentially).

Segment Performance

Electric Power Infrastructure Solutions
  • Revenue: $2.2 billion (record; up 21% vs. Q2 2021).
  • Operating margin: 10.6% (down from 11.4% in Q2 2021) due to:
    • Supply‑chain‑driven material delays.
    • Inflation in consumables.
    • Inefficiencies from rapid crew expansion (headcount up ~1,000 in the quarter).
  • Communications business performing strongly; on track for upper single-digit to double-digit margins for 2022.
  • Executives expect demand to remain strong given grid modernization, EV load growth, wildfire hardening, and major utility programs.

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Operator: Greetings, and welcome to the Quanta Services Second Quarter 2022 Earnings Conference Call. [Operator Instructions]. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Kip Rupp, Vice President, Investor Relations. Thank you, Kip. You may begin. Kip Rupp: Thank you, and welcome, everyone, to the Quanta Services Second Quarter 2022 Earnings Conference Call. This morning, we issued a press release announcing our second 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 that we will discuss this morning. Additionally, we will use a slide presentation this morning 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, August 4, 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 future events or performance that do not solely relate to historical or current facts. Forward-

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