QUANTA SERVICES, INC. (PWR) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Electric Power Infrastructure Services						5,599.8		4,937.3
Other						3,866.6		2,635.1
Total revenues	17,073.9	12,980.2	11,202.7	12,112.2	11,171.4	9,466.5	7,651.3	7,572.4
Revenue growth [+]	31.5%	15.9%	-7.5%	8.4%	18.0%	23.7%	1.0%	-2.3%
Electric Power Infrastructure Services								-6.9%
Cost of goods sold	14,544.7	11,027.0	9,541.8	10,511.9	9,691.5	8,224.6	6,637.5	6,648.8
Gross profit	2,529.2	1,953.3	1,660.8	1,600.3	1,480.0	1,241.9	1,013.8	923.7
Gross margin	14.8%	15.0%	14.8%	13.2%	13.2%	13.1%	13.3%	12.2%
Selling, general and administrative	1,336.7	1,156.0	975.1	956.0	857.6	777.9	653.3	592.9
Equity in earnings
Other operating expenses	314.8	141.5	67.6	102.3	10.3	32.2	31.7	34.8
EBITDA [+]	1,522.3	1,076.7	920.2	822.2	858.7	647.7	530.7	493.6
EBITDA growth	41.4%	17.0%	11.9%	-4.3%	32.6%	22.1%	7.5%	-18.3%
EBITDA margin	8.9%	8.3%	8.2%	6.8%	7.7%	6.8%	6.9%	6.5%
Depreciation	290.6	255.5	225.3	218.1	202.5	183.8	170.2	162.8
EBITA	1,231.6	821.2	694.9	604.0	656.1	463.9	360.5	330.8
EBITA margin	7.2%	6.3%	6.2%	5.0%	5.9%	4.9%	4.7%	4.4%
Amortization of intangibles	354.0	165.4	76.7	62.1	44.0	32.2	31.7	34.8
EBIT [+]	877.7	655.8	618.2	542.0	612.1	431.7	328.8	296.0
EBIT growth	33.8%	6.1%	14.1%	-11.5%	41.8%	31.3%	11.1%	-31.0%
EBIT margin	5.1%	5.1%	5.5%	4.5%	5.5%	4.6%	4.3%	3.9%
Non-recurring items [+]	5.6	-7.7	6.8	-12.9	71.9	52.9	8.0	58.5
Asset impairment	14.5	5.7	8.3	13.9	49.4	58.1	8.0	58.5
Unusual expense	-4.4	-6.7	-0.7	-13.4	11.2	-5.2
Loss on contingent liability	-4.4	-6.7	-0.7	-13.4	11.2
Interest expense, net [+]	121.8	65.7	42.6	66.0	35.4	20.1	12.5	6.5
Interest expense	124.4	68.9	45.0	66.9	36.9	20.9	14.9	8.0
Interest income	2.6	3.2	2.4	0.9	1.6	0.8	2.4	1.5
Other income (expense), net [+]	-46.4	25.1	2.5	83.4	-47.2	-5.0	-0.7	-2.3
Other	-46.4	25.1	2.5	83.4	-47.2	-5.0	-0.7	-2.3
Pre-tax income	703.9	622.9	571.3	572.3	457.7	353.8	307.7	228.7
Income taxes	192.2	130.9	119.4	165.5	161.7	35.5	107.2	97.5
Tax rate	27.3%	21.0%	20.9%	28.9%	35.3%	10.0%	34.9%	42.6%
Minority interest	20.5	6.0	6.4	4.8	2.7	3.2	1.7	10.9
Earnings from continuing ops	491.2	486.0	445.6	402.0	293.3	315.0	198.7	120.3
Earnings from discontinued ops							-0.3	190.6
Net income	491.2	486.0	445.6	402.0	293.3	315.0	198.4	310.9
Net margin	2.9%	3.7%	4.0%	3.3%	2.6%	3.3%	2.6%	4.1%

Basic EPS [+]	$3.42	$3.45	$3.15	$2.76	$1.92	$2.02	$1.26	$0.62
Growth	-0.8%	9.5%	14.2%	43.9%	-4.9%	59.7%	104.9%	-49.7%
Diluted EPS [+]	$3.32	$3.34	$3.07	$2.73	$1.90	$2.00	$1.26	$0.62
Growth	-0.7%	9.0%	12.6%	43.3%	-5.1%	58.6%	104.9%	-49.7%

Shares outstanding (basic) [+]	143.5	140.8	141.4	145.7	153.0	156.1	157.3	195.1
Growth	1.9%	-0.4%	-3.0%	-4.7%	-2.0%	-0.7%	-19.4%	-11.2%
Shares outstanding (diluted) [+]	148.0	145.4	145.2	147.5	154.2	157.2	157.3	195.1
Growth	1.8%	0.1%	-1.6%	-4.3%	-1.9%	-0.1%	-19.4%	-11.2%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.