The company said operating cash flow for Q1 2024 was $238.0 million, up 520% from a year earlier. The company explained that the prior-year figure of $38.4 million was affected by working capital needs and billing timing related to a large renewable transmission project in Canada.

10-QQuarterly reportFiled May 2, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said operating cash flow for Q1 2024 was $238.0 million, up 520% from a year earlier. The company explained that the prior-year figure of $38.4 million was affected by working capital needs and billing timing related to a large renewable transmission project in Canada.
The company said revenues for Q1 2024 reflected a $575.9 million increase in revenues from its Renewable Energy segment and a $36.2 million increase from its Underground and Infrastructure segment, while revenues from its Electric Power segment decreased by $9.1 million.
Quanta Services said operating income for its Underground and Infrastructure segment decreased by $14.7 million. It cited a loss of $10.7 million on the disposal of a non-core business and lower fixed-cost absorption from reduced revenues in Canada as factors.
The company said it used $384.1 million for acquisitions, net of cash acquired, in Q1 2024, and made net repayments of $504.5 million under its senior credit facility and commercial paper program and paid dividends of $13.7 million.

Key figures

Quarter ended March 31, 2024

Revenue: $5.0B
Operating income: $155M
Net income: $118M
EPS: $0.79
Gross profit: $623M
Operating cash flow: $238M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q1 operating cash flow $238.0 million

The company said operating cash flow for Q1 2024 was $238.0 million, up 520% from a year earlier. The company explained that the prior-year figure of $38.4 million was affected by working capital needs and billing timing related to a large renewable transmission project in Canada.

Source · Based on the MD&A text of the filing

Renewable Energy segment revenue up $575.9 million

The company said revenues for Q1 2024 reflected a $575.9 million increase in revenues from its Renewable Energy segment and a $36.2 million increase from its Underground and Infrastructure segment, while revenues from its Electric Power segment decreased by $9.1 million.

Source · Based on the MD&A text of the filing

Underground and Infrastructure operating income down $14.7 million

Quanta Services said operating income for its Underground and Infrastructure segment decreased by $14.7 million. It cited a loss of $10.7 million on the disposal of a non-core business and lower fixed-cost absorption from reduced revenues in Canada as factors.

Source · Based on the MD&A text of the filing

Acquisition cash use $384.1 million and net repayments $504.5 million

The company said it used $384.1 million for acquisitions, net of cash acquired, in Q1 2024, and made net repayments of $504.5 million under its senior credit facility and commercial paper program and paid dividends of $13.7 million.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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