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Quanta Services posts decline in Q4'17 adjusted net income

Quanta Services Inc. on Feb. 22 posted fourth-quarter 2017 adjusted net income from continuing operations attributable to common stock $71.5 million, or 45 cents per share, from $86.6 million, or 56 cents per share, in the same quarter in 2016.

On a GAAP basis, net income from continuing operations attributable to common stock was $113.6 million, or 72 cents per share, up from $88.5 million, or 57 cents per share, in the prior-year period.

Revenues totaled $2.48 billion in the most recent quarter, compared with $2.10 billion in the 2016 fourth quarter. Operating income fell to $53.6 million in the fourth quarter of 2017, from $117.9 million in the corresponding period in 2016.

For full-year 2017, the company recorded adjusted net income from continuing operations attributable to common stock of $309.1 million, or $1.97 per share, from $238.3 million, or $1.51 per share, in 2016.

On a GAAP basis, net income from continuing operations attributable to common stock for full-year 2017 was $315 million, or $2.00 per share, up from $198.7 million, or $1.26 per share, in the prior year.

Revenues totaled $9.47 billion in 2017, compared with $7.65 billion in 2016. Operating income rose to $378.8 million from $320.8 million in 2016.

For full year 2018, Quanta expects revenues to range between $9.75 billion and $10.25 billion and adjusted diluted EPS attributable to common stock to be $2.40 to $2.80.