Annual Net Income Attributable to Common Stock of $402.0 Million. ; Quanta believes this course of action is prudent and will result in improved profitability and optimization of the company's operational portfolio. All rights reserved. Read on for a primer on how best to approach this method of investing. (j) The amount for the twelve months ended December 31, 2018 reflects the income tax impact primarily related to entity restructuring and recapitalization efforts. (b) The amount for the three and twelve months ended December 31, 2019 reflects asset impairment charges related to the winding down and exit of certain oil-influenced operations and assets, the replacement of an internally developed software application and the planned sale of certain foreign operations and assets. Reconciliation of Free Cash Flow:The non-GAAP measure of free cash flow, when used in connection with net cash provided by operating activities, is intended to provide useful information to investors and analysts as they evaluate Quanta's ability to generate the cash required to maintain and potentially expand its business. Free cash flow is defined as net cash provided by operating activities less net capital expenditures. CONTENTS Message from the Chair & CEO Management’s Discussion and Analysis 1 Consolidated Financial Statements 83 Consolidated Annual Results 163 Consolidated Operating Summary 165 General Information 166. Quanta believes this non-GAAP measure enables it to more effectively forecast its future results and better identify future operating trends that may not otherwise be apparent. Overview ; Quanta Advanced Training … As to certain of the items below, (i) equity in (earnings) losses of unconsolidated affiliates can vary from period to period depending on the activity and financial performance of unconsolidated affiliates, including deferral and subsequent recognition upon completion of construction of earnings on contracts performed for an entity in which Quanta has an equity interest and gain or loss on sales of investments accounted for using the equity method of accounting; (ii) non-cash stock-based compensation expense may vary due to acquisition activity, changes in the estimated fair value of performance-based awards, forfeiture rates, accelerated vesting and amounts granted; and (iii) acquisition and integration costs vary period to period depending on the level of Quanta's ongoing acquisition activity. The most comparable GAAP financial measure, net income attributable to common stock, and information reconciling the GAAP and non-GAAP financial measures, are included below. That would have given the WeChat operator control over the leader in the live-streamed gaming market, estimated to generate 30 billion yuan in revenue this year, according to the latest numbers from iResearch.An affiliate of SF Holding Co. was also fined for not declaring a takeover of a competitor, Monday’s statement showed.Read more: Dissecting China’s Crackdown on Its Internet Giants: QuickTake“Despite its relative modest amount, the penalty announced today has a symbolic importance,” said Scott Yu, an antitrust lawyer with Beijing-based Zhong Lun Law Firm. --Quanta Services, Inc. today announced results for the three and nine months ended September 30, 2020. (k) Both diluted and adjusted diluted earnings per share attributable to common stock for the twelve months ended December 31, 2019 include a $79.2 million, or $0.54 per diluted share, charge associated with the termination of a large telecommunications project in Peru and $60.3 million ($43.9 million after-tax), or $0.30 per diluted share, of earnings related to the recognition of previously deferred earnings on the Fort McMurray West electric transmission project in Canada. Quanta Global Service Contact Information Contact Us. This is significantly above the record $3.8 trillion in cash set back in January 2009 during the financial crisis! Quanta Services, Inc. (NYSE: PWR) today announced results for the three and twelve months ended December 31, 2019. Solectrac claims to be the first North American company to offer a 100% battery-powered all-electric tractor.The company offers three electric tractor models, with a fourth in the design stage. "Richter suggests Tesla could just sell them once a quarter on Autopilot and "no one would get killed, and it could shut down all its factories, and shed its people, and be done with pesky regulators and expenses. He wouldn't chase the stock.NVIDIA Corporation (NASDAQ: NVDA) is incredibly well run, he said and would hold onto the stock.Fastly Inc (NYSE: FSLY) had a decent but not great quarter, said Cramer. … Form 8-K Quanta Services, Inc. Current report, items 5.02, 7.01, and 9.01. Cramer Weighs In On United Airlines, NVIDIA, JD, Fastly And More, The Man Who Bought Amazon at $48 Says Buy TaaS Now, China fines Alibaba, Tencent's e-book subsidiary over anti-trust violations, A Tidal Wave of Cash Is About to Hit the Markets. But NVAX stock has been volatile. Quanta Global Service Contact Information Contact Us. Included in corporate and non-allocated for the three and twelve months ended December 31, 2019 were $4.3 million and $24.8 million of acquisition and integration costs and $5.3 million and $13.4 million of increases in the fair value of contingent consideration liabilities. Fiscal year is January-December. Message from the Chair & CEO Dear ATCO Share Owners, Reflecting upon the past year, I cannot help but remark upon the … The charge consisted of a $48.8 million decrease in revenues and a $30.4 million increase in cost of services. PDF; Form 10K (HTML) Quanta Services Inc. does not currently have any hardcopy reports on AnnualReports.com. Thanks to this unlimited quantitative easing, the Dow and S&P 500 will continue to yield more than the 10-year Treasury, which is hanging a little below 1%. Net sales break down by area of activity as follows: - electric power (58.8%): design, installation, repair and maintenance of onshore infrastructures, consulting and technical support services, etc. All values USD Millions. Quanta Services, Inc. and Subsidiaries Supplemental Data For the Three and Twelve Months Ended December 31, 2019 and 2018 (In millions) (Unaudited). News Archives. Quanta expects adjusted diluted earnings per share attributable to common stock (a non-GAAP measure) to range between $3.62 and $4.02. With the exception of adjusted diluted earnings per share, the financial results for the three and twelve months ended December 31, 2019 include a $13.0 million ($20.7 million with associated tax benefits), or $0.14 per diluted share, gain recognized in the fourth quarter of 2019 related to the sale of our investment in the Fort McMurray West Electric Transmission Project located in Canada. At Quanta Services, our culture is about supporting an environment where all employees can be themselves, are valued and have an equal opportunity to succeed. These measures should be used in addition to, and not in lieu of, results prepared in conformity with generally accepted accounting principles in the United States (GAAP). Quanta Research Institute Quanta Culture & Education Foundation … Therefore, Quanta's financial outlook for revenues, margins and earnings reflects management's effort to align these uncertainties with the backlog the company is executing on and the opportunities expected to materialize during 2020. The adjustments primarily relate to refinements of Quanta's prior estimates and assumptions in connection with filing its 2017 income tax returns and based on subsequent regulations issued in connection with the Tax Act. Others will last longer. Certain terms Subsidiary. 8-K. false 0001050915 0001050915 2019-10-07 2019-10-07 . "Related Link: Ideanomics Rallies Back Above Key Level As Volatility ContinuesAbout Solectrac: The global agricultural tractor industry is worth $75 billion. I’m talking about clean energy and infrastructure. As to certain of the items below, (i) non-cash stock-based compensation expense may vary due to acquisition activity, changes in the estimated fair value of performance-based awards, forfeiture rates, accelerated vesting and amounts granted; (ii) amortization of intangible assets is impacted by Quanta's acquisition activity, and therefore can vary from period to period; and (iii) change in fair value of contingent consideration liabilities varies from period to period depending on the performance in post-acquisition periods of certain acquired businesses. This year, though, that rate surged over 33%. Record Annual Revenues, Operating Income and Backlog. Days Sales Outstanding:Days Sales Outstanding is calculated by using the sum of current accounts receivable, net of allowance (which includes retainage and unbilled balances), plus contract assets, less contract liabilities, and divided by average revenues per day during the quarter. Smart Devices. Matthew McCall left Wall Street to actually help investors — by getting them into the world’s biggest, most revolutionary trends BEFORE anyone else. Search for private jet price. Included in operating income for the Pipeline and Industrial Infrastructure Services segment for the three and twelve months ended December 31, 2019 were asset impairment charges of $10.2 million primarily related to the winding down and exit of certain oil-influenced operations and assets. Fiber to the Home (FTTH) 5G Deployment; EPC; See All; Specialty . On Monday, shares in No. Which One Are You? The amount for the three months ended December 31, 2018 reflects asset impairment charges related to the winding down of certain oil-influenced operations and assets. The following table presents the non-GAAP financial measures of EBITDA and adjusted EBITDA for the three and twelve months ended December 31, 2019 and 2018, which when used in connection with net income attributable to common stock, are intended to provide useful information to investors and analysts as they evaluate Quanta's performance. With capabilities around North America, we provide world-class execution with local delivery. QUANTA SERVICES, INC. Form 8-K (Filer) Published: 2019-10-11 17:03:13 Submitted: 2019-10-11 Period Ending In: 2019-10-07 Interactive XBRL Filing. Electric Power Infrastructure Services excluding Latin America, Pipeline and Industrial Infrastructure Services, Electric Power Infrastructure Services excluding Latin America (b), Pipeline and Industrial Infrastructure Services (c). The amount for the twelve months ended December 31, 2018 reflects the asset impairment charge recognized during the three months ended December 31, 2018 and a charge related to the exchange of a construction barge for an industrial property. Adjusted diluted earnings per share attributable to common stock (a non-GAAP measure) was $0.93 for the fourth quarter of 2019 compared to $0.96 for the fourth quarter of 2018. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements. If there’s one thing Wall Street hates, it’s uncertainty. 27-02-2020 12:55 via news.yahoo.com. Is Novavax a buy? The most comparable GAAP financial measure, net income attributable to common stock, and information reconciling the GAAP and non-GAAP financial measures, are included below. Annual Reports . The most comparable GAAP financial measure, net income attributable to common stock, and information reconciling the GAAP and non-GAAP financial measures, are included below. NOTICE OF ANNUAL MEETING OF STOCKHOLDERS. It should also come as no surprise that there’s never been so much cash sitting on the sidelines — nearly $5 trillion, as a matter of fact. The following table presents the non-GAAP measure of adjusted diluted earnings per share attributable to common stock for the three and twelve months ended December 31, 2019 and 2018, which, when used in connection with diluted earnings per share attributable to common stock, is intended to provide useful information to investors and analysts as they evaluate Quanta's performance. 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