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Quanta Services (PWR) Shares Soar 1.07% on Strong Earnings Outlook
Generated by AI AgentAinvest Movers Radar
Tuesday, Apr 29, 2025 6:22 pm ET1min read
Quanta Services (PWR) shares surged to their highest level since February 2025, with an intraday gain of 1.07%.
Quanta Services is poised for a strong earnings report, with analysts projecting quarterly earnings of $1.67 per share, marking an 18.4% increase. This positive outlook is further supported by a forecasted 14.1% growth in earnings for the current fiscal year. The company's robust financial performance is underpinned by a significant revenue increase for 2024, reaching $23.7 billion, a 13.4% rise from the previous year.
The rising power demand, driven by AI data centers, electrification, and the reshoring of manufacturing, has positively impacted Quanta Services' Q1 performance. This trend is expected to continue, bolstering the company's growth prospects. Additionally, the stock's recent crossing above its 200-day moving average, reaching $292.91 per share, serves as a positive technical indicator, suggesting sustained upward momentum.
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