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QUANTA SERVICES FOR IMMEDIATE RELEASE 21-05 Contacts : Derrick Jensen , CFO Kip Rupp , CFA , IRC - Investors Quanta Services , Inc. 713-629-7600 PRESS RELEASE QUANTA SERVICES REPORTS FIRST QUARTER 2021 RESULTS First Quarter Consolidated Revenues of $ 2.7 Billion and Record First Quarter Electric Power Revenues Record First Quarter Electric Power Operating Income First Quarter GAAP Diluted EPS of $ 0.62 and Adjusted Diluted EPS of $ 0.83 Remaining Performance Obligations of $ 4.1 Billion and Record Total Backlog of $ 15.8 Billion HOUSTON - May 6 , 2021 - Quanta Services , Inc. ( NYSE : PWR ) today announced results for the three months ended March 31 , 2021. Revenues in the first quarter of 2021 were $ 2.70 billion compared to revenues of $ 2.76 billion in the first quarter of 2020 , and net income attributable to common stock was $ 89.8 million , or $ 0.62 per diluted share , in the first quarter of 2021 compared to net income attributable to common stock of $ 38.7 million , or $ 0.26 per diluted share , in the first quarter of 2020. Adjusted diluted earnings per share attributable to common stock ( a non - GAAP measure ) was $ 0.83 for the first quarter of 2021 compared to $ 0.47 for the first quarter of 2020 . " Quanta is off to a solid start for the year , with continued strong performance and safe execution from our Electric Power Infrastructure Solutions segment and better than expected profitability from our Underground Utility and Infrastructure Solutions segment . Based on this performance and continued confidence in our ability to safely execute , we are increasing our full - year financial expectations , " said Duke Austin , President and Chief Executive Officer of Quanta Services . " Our strategic focus on enhancing our front - end capabilities allows us to provide industry leading solutions to our customers and increases our total addressable market and growth opportunities . Spending by utilities on grid modernization , system hardening and renewable generation integration and spending by communications providers on broadband and 5G network deployment are driving strong demand for our services , as evidenced by our record backlog of $ 15.8 billion . These dynamics continue to enhance our near - term visibility and are expected to be meaningful drivers of our growth going forward , and , when coupled with increasing movement toward a carbon - neutral economy , incrementally increase our growth opportunities . " Certain items that impacted the first quarter of 2021 results are reflected as adjustments in the calculation of Quanta's adjusted diluted earnings per share attributable to common stock and are further described in the accompanying non - GAAP reconciliation -MORE