HOUSTON (AP) _ Quanta Services Inc. (PWR) on Thursday reported fourth-quarter profit of $118.1 million.
On a per-share basis, the Houston-based company said it had net income of 80 cents. Earnings, adjusted for one-time gains and costs, were 93 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.
The specialty contractor for utility and energy companies posted revenue of $3.11 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $3.03 billion.
For the year, the company reported profit of $402 million, or $2.73 per share. Revenue was reported as $12.11 billion.
Quanta Services expects full-year earnings in the range of $3.62 to $4.02 per share, with revenue in the range of $12.2 billion to $12.6 billion.
Quanta Services shares have decreased roughly 9% since the beginning of the year, while the Standard & Poor's 500 index has dropped 3.5%. The stock has risen slightly more than 3% in the last 12 months.