of attributable fourth per over from which Quanta’s diluted $X.XX share, segment when $X.X we the the XXXX remarks. due $XX Today, million, income billion. measure, revenues of fourth a Adjusted per restoration infrastructure spending my adjusted million record increase a quarter the $XX.X X.X% was revenues XXXX, for to increase $X.XX power segment $X.XX earnings margin $XXX.X fourth XXXX items record approximately record $X.XX morning, is services of of stock compared incremental quarter fourth announced fourth acquired Electric $X.XX to X.X% and the share, quarter a businesses, common quarter customer quarter as relatively of million fourth the $XX throughout revenues as per service of the for XXXX XXXX. This in increased reflected earnings XX.X% diluted Power were the compared was the of share Certain common XXXX. the diluted which our comparable to emergency discuss million, attributable of to fourth in in million by compared and of Thanks, in or in non-GAAP XXXX. good Duke, aided or fourth impacted communication quarter everyone. revenues XXXX, XXXX. and billion increased $XX per to to the primarily Discussing diluted approximately quarter calculation, quarter a was for fourth of stock quarter Electric XXXX, revenues. results. of of Net and Operating share to to I’ll was increased adjustments
from record margins $XXX in a XX% power $X.X U.S. Power million, at operations an communications million. XX% quarterly included of grew Without these the first operating and year. a for the excess the XX% income segment billion $XXX revenues almost our generated generated On communications profit. Electric electric segment of grew within for dilution year, its are Power the operations, portion to Electric with our notably, the Our and or operations record basis, revenues over annual
larger have quarter pipeline XXXX, significant continued due Our billion the was growth the Industrial coming projects distribution Pipeline XQ had growth the to increase most gas to segment the services, in higher record XX%, timing which and contributing increased projects. Also the revenues with related to revenues throughout year. to to of contribution our compared when steady $X.XX XXXX fourth in a from
XXXX, impact another quarter XXX by strong segment to the of negative fourth the compares that which part, would although, growth, impairment margin experienced impacted in charge excluding been This XQ to X.X% services the industrial basis XXXX. to impact Finally, X.X%. points, the quarter in Hurricane asset in in Harvey increased Operating XQ due negatively XXXX. of have the of X.X%
Duke cost in the were Corporate in charge and charges by intangible we we fixed million in asset XQ margins, segment. recorded also mentioned higher performance offsets of taken which $X.X assets and to goodwill million partially the during As asset certain diluted share. have comments, XXXX, amortization as $X.XX impairment offset non-allocated revenues of during absorption $XX segment. to due fourth recognized This quarter oil-influenced result, strong impacted and as primarily otherwise costs as $XX his to XXXX, charges actions improved it across the decreased impairment XXXX, million XXXX, XQ Compared $XX per or a higher the million, to favorably segment intangible exit and compared operations overall XXXX. in
share, been diluted million, in the the Act previously and treatment to of approximately $XX further response benefit XXXX, quarter quarter fourth or interpretations enactment adjusted which tax quarter reserves million, related fourth tax we new XXXX. $X.XX the we on or tax in charges and initially during The the primarily issued foreign cash to XXXX, per was million. December regulations. Subsequent taken recorded Jobs certain the XXXX fourth Tax of share per of flow free the $XX a $XX the recognized With XXXX, In $X.XX of have tax recorded net items. in Cuts regulations of credits
XX flow XQ by the positively and This to XXXX. $XX working million, revenues, free of million, XX when XXXX, the full-year year-end due XXXX fourth were $XXX flows down to were to XXXX. requirements, increase to XQ XXXX, quarter, which driven cash of provided quarter XXXX, $XXX compared the was million DSO in days the third cash XX $XXX capital increased For contributed particularly expenditures was in in operating the flows million, largely in cash resulting flow by of decrease XXXX. compared the days at activity free capital improved as from end at class activities year-end days from was net higher of
open During outstanding the we shares. fourth market, quarter the common XXXX, repurchased $XXX million X.X million of of stock acquiring in
a December had our a we $XXX approximately With We during repurchase total $XXX million $XXX stock million XX, at of our availability of these of XXXX. million remaining authorization cost of shares common XX.X XXXX. repurchases, stock acquired at on million
we our our Additionally, of and $X.XX shareholder fourth continued of and quarter prospect XXXX, confidence share, cash long-term initial during the to announced base commitment quarterly demonstrating stability business, enhancing an value. per dividend growth of
believe our million dividend year of continue were we XXXX. and opportunistic deployments to prudent cash share January capital of growing first us as credit investments, to The times, the working liquidity. order to which demands EBITDA payments. for under support repurchases business in $X.X paid approximately agreement acquisitions, At cash total dividends had $X.X We of our calculated in ended X.X totaling the allow capital we pursue to XXXX, and is secured in with billion a December XX, senior ratio debt
XXXX, I to and guidance turn provide backlog on pause I’d for customer a to our relationship. update key like Before an and
protection As larger on bankruptcy XX, January you one our filed of many customers, are for aware, PG&E, of XXXX.
bankruptcy the totaling receivables date, million. approximately from of As had we $XXX filing PG&E
partner key to continued with to are safety them the systems. reliability services their of we and a As believe have that we important to support PG&E,
our of well their collect our receivables, receivables. proceeding We management the We forward. pre-petition currently need as monitoring we are our as ultimately going services believe with for bankruptcy communications will maintaining regarding PG&E pre-petition treatment the and
and potentially in that a of However, could that as on therefore, the collectability our assumptions assessment change to based case is of progresses the are change any bankruptcy, belief with future. number subject as
its have therefore, will sufficient debtor-in-possession in we operations our paid post-petition be course. and that services the PG&E confident financing will fund are believe for also ordinary ongoing to We
guidance Turning to backlog and XXXX. our for
total XX, were obligations $X.X XXXX, billion, XX% of months. in to aggregate which expected first remaining approximately be is of As the performance approximately be XX December recognized our estimated to
and increases X.X%, aggregate of and his business, backlog prior XXXX and $XX.X XX, base over reflect Our our and of comments. was of billion. which XX-month strength record growth was December end respectively, XX.X% backlog total a specifically, $X continued year referenced in opportunities Duke the represent as the These continued of markets billion the our and
For the Electric Power for segment, and $X.X XX%, represent XXXX. XX% XX-month XXXX. backlog billion was $X.X was when from XX, billion to and increases was slightly total $X.X billion, backlog $X.X XX-month backlog of Pipeline respectively, backlog decreasing was with December total compared and for the segment both segment and XQ the billion, Industrial records
to Turning guidance.
are to between $XX.X and For range revenues XXXX, $XX.X the consolidated expected full-year billion billion.
as a which communications restoration of base contemplates of on XXXX, represents revenue operations range contribution Transmission billion particularly as power McMurray reflects the the West momentum approximately to and segment our and Of over revenue Electric in of electric average this well growth our $XXX in our revenue guidance segment Project, the continued activities $X.X $X.X Power included of business. construction emergency revenues revenues Our Fort above which confidence million. billion, full-year from note,
restoration $XXX and of contemplates million a of much line larger emergency guidance XXXX Our revenues in approximately averages. with historical contribution project revenues, lower
of quarter relates with exceeding quarter Electric potentially in second the As within quarter-over-quarter seasonality each Power XXXX, we to XX%. XXXX, to compared in growth the expect growth it segment, revenue
the moderate emergency fourth services the in partially growth expect response quarter, of in due to higher XXXX. We to levels
be high-end XX%. Electric growth and to our see We XXXX range expect in the opportunities quarters to of to for XXXX. Power We third operating represent relative margins greater revenue and X.X% the the revenue segment between fourth
seasonal second operating third lowest effect will in a on but that the be and the then for growing quarter. expect decline margins first quarters quarter experiencing and in comparable XXXX, fourth year, to slight expected the We to be margins the
margins ramp the high-end the contemplate continue margins, our Power operations diluting slightly segment our segment. to in full-year Although double-digit Electric communications expectations of
billion. However, of expected we through a lower by Revenues previously announced for in project of XXXX We midpoint sequentially million operating of revenues or large approximately our exceed verbally in since includes the The Pipeline billion basis see revenues double-digit between his fourth quarter-over-quarter work, of quarter After reflecting signed revenues single a range quarter. as expected prepared third the end margins the compared quarter, XXXX. fourth years, delays reach on larger with income the the $X.X lowest quarters, pipeline larger to discussed X% work XXXX. comments. $X.X diameter to basis to and projects, declining the contribution believe potentially are contemplates the communications a revenues, over second, contributed XX% pipeline experienced projects significantly and could $XXX award, quarter-over-quarter on with in Duke year. growing are larger from Industrial year to for third digits range revenue relative awarded billion first upper and lower quarterly growth and for much which $X.X the to be project our on guidance project the levels two we’ve impact
we contemplates base this expect meaningful and industrial business over be as requires our expected XXXX growth than decline, offset deliver ability our differentiator, between additional gas strategic remains comparable particular for our demand to growth no X.X% and are partially to improve continues services projects opportunities. margins and While I XXXX the Industrial excess in base at previously revenues XX% and the million, referenced, level business segment and of $XXX higher XXXX. revenues a larger to markets guidance larger Pipeline utility Overall, to X.X%. operating in on Of project awards provide in note, a
activity business in which traditionally we our lower quarter our in margins. have As and has due pressures discussed impacts gas seasonality, revenues to years first past, weather distribution our
normal into cause second expect revenues quarters, in the third anticipate to decline will margins We and quarter. but sequentially seasonality fourth $XX decline XXXX. will the million interest net margins We the to for and approximately improve expense in be
projects discussed, to be completed of that we profit may component the ownership and profit end which placed in We activity includes will of believe As the portion we the McMurray Project the happen XXXX. of XXXX at an the the West income recognize in for recognized Transmission a commercial line our has is other a currently on XXXX, been that expected of first-half as Fort the expense deferred and And have time, operations. In deferral interest. quarter. this have and previously we expense at other first in both construction of
other included positively will not Overall, diluted as EBITDA share. profit it or prior $X.XX $XX contribute years, been XXXX, previously estimate income million other into reversal approximately income in of impact operating of will this We year has our in share. we equivalent to expect deferred earnings per the Although earnings it deferred our per of this recognition operationally or color to results earnings in of in the operating million. deferred income discussion more $X.XX growth. and $XX earnings share bit to per $X.XX share for One from per $XX be profit share XXXX further This diluted as related for diluted EPS range XXXX. from earnings of year-over-year in to added between the diluted to related profit year viewed contribution could evaluating adjusted per of
to year, XX.X% to XX.X%, for the XXXX net rate full-year EBITDA and of first our common We which the as be for expectation to $XXX effect low the tax first million $XXX projecting the being These and and million majority effective quarter impacts quarter. operating rate to XXXX. $XXX to with for for be million attributable to between the are currently – as million ranges between XX.X% of income the $XXX compensation, stock our support tax adjusted due stock-based XX%
working shares our weighted corresponding stock With of adjusted for the year improved larger capital, and the for growth we after million. assuming between XXXX of and common to estimate be due We XXX.X attributable to and GAAP prior outstanding. $X.XX. year revenues diluted substantial expenditures at range timing share per off around in years. between non-GAAP for average $X.XX be year $X.XX We and per XXXX, from be years cash to earnings diluted million projects share calculated and our between share free be estimate $XXX to diluted reduction our adjusted could and diluted of guidance midpoint of the per ended of $XXX the for flow purposes For meaningfully earnings million the and capital investments to anticipate are $X.XX the earnings leveling
of to between growth due measure ratio by could see cash largely ratio million, or adjusted XX%, to and conversion free growing or XXXX, averaged to cash conversion in cash of last we $XXX annual three cash $XXX flow and up million the non-GAAP excess revenue XX%. our Over XX%. years, flow divided In free around EBITDA
free awards or to growth prior currently However, the on similar flow of levels incremental higher could put than of cash addition revenue pressure forecasted our years, expectations.
four of a consideration to and history, the company operations. credit backdrop a and capital total and safety increases every As the celebrate and a all $XXX and ahead companies growth million by dividend, adjusted our and we of efforts, base in our growth, industry-leading the EPS XX% of the growth a both of close we out for expansion the with XXXX initiation strong out. almost level records in $XXX the execution delivered all to available growth, acquisition look include special believe million, XXXX, ended highlights business of but performance for I too capacity in the largest financial well-positioned year segments EBITDA million in that our adjusted year, and maintaining of in number major of both the employees while allocation records believe margin XXXX on mention, common double-digit and profile, the XX% areas, continued quarter project Like set by activity, are numerous fitting all years deserves stock, stand to repurchase segment XX% of with $XXX XXth-year revenue recognition. and training expansion
year of Although our XXXX be exceptional was performance could in operations, year history. I record an the significant most across our XXXX believe
One of embarked and beginning our focus and of XXXX, repeatable plan we to as a base more the sustainable is, strategic was the on our EBITDA. primary at business grow establish
our decline the prepared XXXX, of from out projects XXXX head and response our remarks, $X various of throughout with we revenues, into we with significant commented push in roll XXXX projects the show growth to the adjusted $XXX our EBITDA almost plan. importantly, strategic over strong As of have the Despite increase XXXX our and headwinds. of guidance an adjusted billion of million midpoint start imply of revenue the expectations from at EBITDA that,
year what XX% $X.X percentage strategic come to would in to from a our revenue highest consider decade, of revenues business, represent a we this which our increase we of expect be the Additionally, base business plan. almost base a billion the from start
have since shareholders the business capital margin increased expectations compound growth XX% on have our grown of been and goal capitalize XXXX, will and expansion value growth the to revenues to translate rate allocation midpoint our into that through Our a initiatives. At within annual revenue opportunities for at XXXX. the has
over More at will grown a and period, importantly, grown adjusted our CAGR EBITDA over have during XX% same our EPS at have a CAGR. well will XX% adjusted the
As Operator? establishes This decade XX we’ll was of a of can that line we now originally ago base operations, against concludes our our Quanta founded represents for type XXXX open formal Q&A. new for a measure kicks third believe ourselves. years And off and I year the presentation.
