Quanta Services Reports Q4 Results

According to J.P. Morgan, Quanta Services PWR reported Q4 results before the open and will host a call this morning at 9:30am EST to discuss. J.P. Morgan reported that PWR provided initial 2011 diluted EPS guidance of $0.80-0.90, below its $1.00 estimate and the Street's $1.05. “It is unclear how much of the downside reflects conservatism on management's part (initial 2010 guidance proved aggressive), and given the low Q1 guide ($0.02-0.03, vs. JPM of $0.16 and the Street's $0.17), it appears that most of the downside will occur early in the year.” The report rated PWR Overweight. Quanta Services closed yesterday at $22.63.