PWR backlog rises 19 percent quarter over quarter, Stephanie Link notes

PWR backlog rises 19 percent quarter over quarter, Stephanie Link notes
PWR sees strong growth and backlog gains

PWR reported another beat and raise, with transmission and distribution revenue up 57 percent year over year, backlog up 19 percent quarter over quarter, and free cash flow rising 115 percent. Electric infrastructure revenue grew 39 percent, while underground revenue increased 29 percent.

Stephanie Link, Managing Director and Portfolio Manager at Hightower Advisors, reported these results and added that, in her view, Quanta is in the early stages of a multi-decade investment cycle in utility, power generation, and large load infrastructure.

Stephanie Link previously highlighted Micron Technology's triple-digit revenue and EPS growth as all major end markets improved in her recent coverage of Micron. Last week, she also reported that XLK fell 7% while energy, staples, and healthcare sectors gained in her recap of sector performance. Link continues to track significant earnings results and sector shifts across the market.

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