Quanta Services announced an increase in earnings per share to $0.26 for the second quarter from $0.18 last year. The company's income totaled $40.5 million or $0.22 per share, compared $21.8 million or $0.17 per share in the prior year.
On May 7, 2008, Quanta Services released Q1 earnings results of 14 cents per share, 2 cents greater than consensus analyst estimates. Though Q1 net profit fell 22% from Q1 2007, analysts formed a consensus target price per share of $33 by year end. Over the course of three days, Quanta's stock price surged 10%, or $2.83.