Quanta Services, Inc. (NYSE:PWR) Q2 2019 Earnings Conference Call - Final Transcript

Aug 01, 2019 • 09:00 am ET


Quanta Services, Inc. (NYSE:PWR) Q2 2019 Earnings Conference Call - Final Transcript


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Greetings, and welcome to the Quanta Services Second Quarter 2019 Earnings Conference Call. [Operator Instructions]

I would now like to turn the conference over to your host, Kip Rupp, VP, Investor Relations.

Kip Rupp

Thank you, and welcome, everyone, to the Quanta Services second quarter 2019 earnings conference call. This morning, we issued a press release announcing our second quarter results, which can be found in the Investors & Media section of our website at quantaservices.com, along with a summary of our 2019 outlook and commentary that we will discuss this morning.

Please remember that information reported on this call speaks only as of today, August 1st, 2019, and therefore, you're advised that any time-sensitive information may no longer be accurate as of any replay of this call.

This call will include forward-looking statements intended to qualify under the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These include all statements reflecting Quanta's expectations, intentions, assumptions or beliefs about future events or performance that do not solely relate to historical or current facts.

Forward-looking statements involve certain risks, uncertainties and assumptions that are difficult to predict or beyond Quanta's control, and actual results may differ materially from those expressed or implied. For additional information concerning some of these risks, uncertainties and assumptions, please refer to the cautionary language included in today's press release, along with the Company's 2018 annual report on Form 10-K and its other documents filed with the Securities and Exchange Commission, which are available on Quanta's or the SEC's website. You should not place undue reliance on forward-looking statements, and Quanta does not undertake any obligation to update such statements and disclaims any written or oral statements made by any third party regarding the subject matter of this call.

Please also note that we will present certain historical and forecasted non-GAAP financial measures in today's call, including adjusted diluted EPS, backlog, EBITDA and free cash flow. Reconciliations of these measures to their most directly comparable GAAP financial measures are included in our earnings release.

Lastly, if you would like to be notified when Quanta publishes news releases and other information, please sign up for e-mail alerts through the Investors & Media section of quantaservices.com. We also encourage investors and others interested in our Company to follow Quanta IR and Quanta Services on social media channels listed on our website.

With that, I would now like to turn the call over to Mr. Duke Austin, Quanta's President and CEO. Duke?

Earl C. Austin

Thanks, Kip. Good morning, everyone, and welcome to the Quanta Services second quarter 2019 earnings conference call. On the call, I will provide operational and strategic commentary before turning it over to Derrick Jensen, Quanta's Chief Financial Officer, who will provide a detailed review of our second quarter results. Following Derrick's comments, we welcome your questions.

This morning, we reported record consolidated second quarter revenues, as well as our highest ever quarterly Electric Power segment revenue. Our record quarter backlog of $12.8 billion bodes well