5 Companies That Topped Profit Expectations

In this article, we discuss the 5 stocks that topped profit expectations. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks That Topped Profit Expectations.  

5. Quanta Services, Inc. (NYSE:PWR)

Number of Hedge Fund Holders: 48

Shares of Quanta Services, Inc. (NYSE:PWR) recently climbed to an all-time high following its upbeat financial performance for the fourth quarter. The Houston-based company reported adjusted earnings of $1.54 per share, up from $1.22 per share reported for the comparable period of 2020.

Revenue came in at $3.92 billion versus $2.91 billion in the year-ago period. Analysts were expecting Quanta Services, Inc. (NYSE:PWR) to post earnings of $1.04 per share on $2.98 billion in revenues.

Quanta Services, Inc. (NYSE:PWR) also issued its financial outlook for 2022. It expects adjusted earnings in the range of $6 – $6.50 per share and revenue between $16 – $16.50 billion for the current year.

Commenting on the quarter, CEO Duke Austin said:

“Quanta’s strong fourth quarter results complete a year in which we produced record revenues, profits and backlog, while also strategically transforming our ability to collaborate with our customers on their energy-transition initiatives.”