Quanta smashes profit record in 1Q 2012

Buoyed by new pipeline projects and a sizeable solar contract, Quanta Services Inc., Houston, reported that the first quarter of 2012 was the most profitable first quarter in the company's history. In a press release announcing the company's 1Q 2012 financial results, Jim O'Neil, president CEO said, “Our electric power segment was the major contributor to the strong first quarter performance, primarily due to safe, efficient execution on a record number of transmission projects. Based on our performance in this year's first quarter, increased backlog, and improved visibility in the natural gas and pipeline segment, we have increased our full year 2012 guidance." Details