QUANTA SERVICES INC, QUANTA SERVICES MANAGEMENT ...

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Publication title Dow Jones DBR High Yield Pages n/a Publication year 2012 Publication date Nov 20, 2012 Year 2012 Publisher Dow Jones & Company, Inc. Financial Information Services Place of publication New York Country of publication United States Journal subject Business And Economics--Investments Source type Trade Journals Language of publication English Document type News ProQuest document ID 1178887133 Document URL http://ezproxy.spl.org:2048/login? url=http://search.proquest.com/docview/1178887133?accountid=1135 Copyright (c) 2012 Dow Jones & Company, Inc. Last updated 2012-11-28 Database ABI/INFORM Trade & Industry http://search.proquest.com.ezproxy.spl.org:2048/printviewfile?accountid=1135 Page 6 of 26 12/6/2012
document 4 of 10 Q3 2012 Quanta Services, Inc. Earnings Conference Call - Final Fair Disclosure Wire [Waltham] 31 Oct 2012. Find a copy Base URL to 360 Link: http://MY2VS8LV9P.search.serialssolutions.com?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&rfr_id=info:sid/ProQ% 3Aabitrade&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=unknown&rft.jtitle=Fair+Disclosure+Wire&rft.atitle=Q3+2012+Quanta+Services% 2C+Inc.+Earnings+Conference+Call+-+Final&rft.au=&rft.aulast=&rft.aufirst=&rft.date=2012-10- 31&rft.volume=&rft.issue=&rft.spage=&rft.isbn=&rft.btitle=&rft.title=Fair+Disclosure+Wire&rft.issn= Abstract (summary) None available. Full Text Presentation OPERATOR: Welcome to the Quanta Services third-quarter 2012 earnings conference call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session with instructions provided. (Operator Instructions) Page 7 of 26 As a reminder, this conference is being recorded today, Wednesday, October 31, 2012, and I would now like to turn the conference over to Mr. Kip Rupp, Vice President, Investor Relations. Please go ahead. KIP RUPP, VP, IR, QUANTA SERVICES, INC.: Thank you, Luke, and welcome everyone to the Quanta Services conference call to review third-quarter 2012 results. Before I turn the call over to management, I have the normal housekeeping details to run through. If you would like to have Quanta news releases and other information e-mailed to you when they occur, please sign up for e-mail information alerts by going to the Investors and Media section of Quanta Services' website at QuantaServices.com. A replay of today's call will be available on Quanta's website at QuantaServices.com. In addition, a telephonic recorded instant replay will be available for the next seven days, 24 hours a day, that can be accessed as set forth in the press release. Please remember that information reported on this call speaks only as of today, October 31, 2012, and, therefore, you are advised that any time-sensitive information may no longer be accurate as of the time of any replay of this call. This conference 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 forward-looking statements include all statements reflecting Quanta's expectations, intentions, assumptions, or beliefs about future events or performance, or 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 are beyond Quanta's control, and actual results may differ materially from those expected or implied as forward-looking statements. Management cautions that you should not place undue reliance on Quanta's forward-looking statements and Quanta does not undertake any obligation to update any forward-looking statements to reflect events or circumstances after this call. For additional information concerning some of the risks, uncertainties, and assumptions that could affect Quanta's forward-looking statements, please refer to the Company's annual report on Form 10-K for the year ended December 31, 2011, its quarterly reports on Form 10-Q and its other documents filed with the Securities and Exchange Commission, which may be obtained on Quanta's website or through the SEC's website at SEC.gov. With that, I would now like to turn the call over to Mr. Jim O'Neil, Quanta's President and CEO. Jim? JIM O'NEIL, PRESIDENT AND CEO, QUANTA SERVICES INC: Good morning, everyone, and welcome to Quanta Services' third-quarter 2012 earnings conference call. Before I begin the call, on behalf of the Quanta management team, we would like to express our concerns to our friends, analysts, and shareholders that may have been impacted by Hurricane Sandy, many of whom may not be able to participate on the call today. You are in our thoughts and prayers. After my operational overview, I will turn the call over to Derrick Jensen, Quanta's Chief Financial Officer, who will provide a detailed review of our third-quarter financial results. Following Derrick's comments, we welcome your questions. We continue to see market momentum in our infrastructure segments, particularly our electric transmission and pipeline services. In addition, because of the many nuances in building major infrastructure projects in today's challenging environment, our customers have become more selective in choosing a construction partner that can successfully manage safety and environmental concerns, project timelines and execution while meeting budget expectations. Our third-quarter performance reflects our customers' continued confidence in our ability to exceed expectations with consistent, safe, and efficient execution. We also expect strong demand for our services in the future, from a broadening customer base, as our infrastructure projects move forward. Our revenues in the third quarter were a record $1.69 billion, a 35% increase compared to the third quarter of 2011. Revenues for the first nine months of this year have increased almost 49%, compared to the same period last year. Our 12-month backlog is at record levels. Our employee count at the end of this year's third quarter was approximately 21,000, up 21% compared to the third quarter of last year, and up 20% since the end of 2011. Although emergency restoration service revenues were $81 million for the quarter, the highest quarterly levels since Hurricane Rita hit the Gulf coast in the third quarter of 2008, the quarter-over-quarter increase of $16 million was negligible relative to the overall revenue growth in the quarter. Our third-quarter results were primarily driven by strong performance in our Electric Power segment, due to the significant volume of electric transmission projects underway, and our ability to safely execute those projects. Improved performance, quarter-over-quarter and sequentially, from our Natural Gas and Pipeline and Telecommunications segments also contributed to the strong results. Our Electric Power segment revenues continue to reflect significant growth, and 12-month backlog grew, due to new contract awards. During the third quarter, Quanta was selected for three large electric transmission projects, which have an aggregate value of approximately $400 million. We secured a contract from ATCO Electric to install transmission infrastructure for http://search.proquest.com.ezproxy.spl.org:2048/printviewfile?accountid=1135 12/6/2012
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QUANTA SERVICES INC, QUANTA SERVICE
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M&A: Acquirer Firm to Target Firm A
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Company Summary: QUANTA SERVICES IN
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Company Summary: QUANTA COMPUTER IN
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Company Summary: QUANTA SERVICES MA
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Litigation: Court Trends & Analysis
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Litigation: Docket and Opinion Tren
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Litigation: Presiding Judge Trends
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Litigation: Legal Role Trends & Ana
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Litigation: Industry Distribution T
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Litigation: Source Documents (Conti
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Litigation: Company Name Variations
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M&A: Transaction Status Trends & An
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M&A: Financial Advisor Trends & Ana
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M&A: Law Firm Role Trends & Analysi
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M&A: Company Distribution Trends &
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M&A: Recent Company Documents The R
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M&A: Acquirer Firm to Target Firm A
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M&A: Acquirer Attorney to Target Fi
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M&A: M&A Source Documents The M&A S
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M&A: Source Description WestMonitor
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Patent Applications: Filing Office
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Patent Applications: International
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Patent Applications: Assignees The
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Patent Applications: Industry Distr
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Patent Assignments: Volume The Assi
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Patent Assignments: Company Distrib
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Patent Assignments: Assignment Docu
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Granted Patents: Filing Office Loca
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Granted Patents: International Clas
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Granted Patents: Inventor Location
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Granted Patents: Assignors The Gran
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Granted Patents: Granted Patent Doc
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Patent: Company Name Variations The
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Quanta Services, Inc. Profile 2800
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Table of Contents Company Overview
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Earnings Estimates 30 Financial Mar
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Key People Name Title Mr. John R. C
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Industry Information Hoover's Indus
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Title Name Age Salary Bonus Directo
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Biographies John R. Colson, Age 64
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Current Company Compensation Histor
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Salary Bonus Total 2004 : $244,208.
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Bernard Fried, Age 55 Title held si
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Biography Bruce Ranck has been a me
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Unknown - Present : Director Of Dat
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Unknown - Present : Operations Dire
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Company Financials Financial Summar
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Quarterly Income Statement All amou
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Quarterly Balance Sheet All amounts
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Quarterly Cash Flow All amounts in
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Financial Market Data Current Infor
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Competitors List Company Cable Com
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Financial Current Ratio Quick Ratio
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New Constructs rectifies accounting
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Page 4: Free Cash Flow Yield ® Fre
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Stock prices reflect the market’s
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Attractive 2nd Quintile -1% < 3% >
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Values in millions except per share
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Page 12: New Constructs Profile ®
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Quanta Services 2011 Annual Report
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A skilled and highly trained workfo
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Cleaner Lines The growing demand fo
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Harnessing energy from renewable so
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Bottom Lines The recession and regu
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The American Recovery and Reinvestm
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James F. O’Neil, III President an
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Total Backlog at December 31, $ in
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Quanta Operating Units Allteck Line
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QUANTA SERVICES, INC. ANNUAL REPORT
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We were organized as a corporation
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maintenance of natural gas and oil
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Fiber Optic Licensing segment provi
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assurance, however, that our compet
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Environmental Matters and Climate C
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Audit Committee, Compensation Commi
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Project performance issues, includi
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In addition, our customers may canc
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we have significant operations in C
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Our inability to successfully execu
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The business of our Fiber Optic Lic
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We may incur liabilities or suffer
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Failure to adequately protect criti
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Opportunities within the government
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PART II ITEM 5. Market for Registra
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500 Index (the S&P 500 Index) and a
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(b) The effective tax rates in 2011
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Reportable segment information, inc
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On October 25, 2010, we acquired Va
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liability and auto liability claims
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Selling, general and administrative
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Segment Results The following table
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2010 compared to 2009 Electric Powe
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Sources and Uses of Cash As of Dece
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The credit agreement provides for c
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From time to time, we guarantee the
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in excess of billings on uncomplete
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Critical Accounting Policies The di
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operating unit level. Each of our o
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Estimating future cash flows requir
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periods in which those temporary di
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clean energy and energy independenc
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Conclusion We are currently seeing
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• Adverse economic and financial
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ITEM 7A. Quantitative and Qualitati
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REPORT OF MANAGEMENT Management’s
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REPORT OF INDEPENDENT REGISTERED PU
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QUANTA SERVICES, INC. AND SUBSIDIAR
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Page 253 and 254: QUANTA SERVICES, INC. AND SUBSIDIAR
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Page 295 and 296: SIGNATURES Pursuant to the requirem
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Page 307 and 308: Page 9 of 26 DERRICK JENSEN, CFO, Q
Page 309 and 310: ALEX RYGIEL, ANALYST, FBR & CO.: Ni
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Page 313 and 314: Publication date Oct 31, 2012 Year
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Page 319 and 320: WiMAX backhaul communications will
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