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Quanta Services Selected for Two Large Diameter Mainline Pipeline Projects

HOUSTON, Feb. 2, 2018 /PRNewswire/ -- Quanta Services, Inc. (Quanta) (NYSE: PWR) announced today that it has executed contracts for two large diameter mainline pipeline projects in the Appalachian region of the United States with estimated aggregate revenue in excess of $550 million. The contract for one project was executed in December 2017 and will be reflected in backlog as of December 31, 2017. Contracts for the other project were executed in January 2018 and will be reflected in backlog as of March 31, 2018.

Quanta Services Logo. (PRNewsFoto/Quanta Services, Inc.)

Quanta will utilize three pipeline spreads on these projects to install approximately 78 miles of 36-inch and 42-inch steel pipe in West Virginia. Subject to the customers obtaining regulatory approvals, both projects are expected to begin construction in the first half of 2018 with completion expected by the end of this year.

About Quanta Services
Quanta Services is a leading specialized contracting services company, delivering infrastructure solutions for the electric power, oil and gas and communications industries. Quanta's comprehensive services include designing, installing, repairing and maintaining energy and communications infrastructure. With operations throughout the United States, Canada and Australia and in select other international markets, Quanta has the manpower, resources and expertise to safely complete projects that are local, regional, national or international in scope. For more information, visit www.quantaservices.com.

Forward-Looking Statements
This press release (and any oral statements regarding the subject matter of this press release) contains forward-looking statements intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995.  Forward-looking statements include, but are not limited to, the expected value of the contracts or projects awarded thereunder; the scope of services to be performed by Quanta for the projects; the anticipated commencement and completion dates for construction of the projects; as well as statements reflecting expectations, intentions, assumptions or beliefs about future events and other statements that do not relate strictly to historical or current facts.  Although Quanta's management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.  These statements can be affected by inaccurate assumptions and by known and unknown risks and uncertainties that are difficult to predict or beyond Quanta's control, including, among others, the effects of industry, economic, financial or political conditions outside of the control of Quanta; failure to obtain regulatory or permitting approval for the projects; successful performance and completion of the contracts and the projects awarded thereunder; delays, reductions in scope, or cancellations of the contracts or the projects awarded thereunder, including as a result of weather, regulatory, permitting or environmental issues, project performance, claimed force majeure events, protests or other political activity related to the projects, or customer capital constraints; the potential for claims associated with Quanta's inability or failure to comply with the terms of the contracts for the projects, which may result in additional costs, unexcused delays, warranty claims, failure to meet performance guarantees, damages or contract termination; the inability or refusal of the customers to pay for Quanta's services; failure of the customers to comply with applicable regulatory, permitting or other requirements for the projects, which could result in delay or cancellation; the failure of suppliers, subcontractors, equipment manufacturers and other third party contractors to perform their obligations under their contracts; adverse changes in economic conditions and trends in relevant markets; cancellation and termination provisions present in the contracts; and other risks and uncertainties detailed in Quanta's Annual Report on Form 10-K for the year ended Dec. 31, 2016, Quanta's Quarterly Reports on Form 10-Q for the quarters ended Mar. 31, 2017, June 30, 2017 and Sep. 30, 2017 and any other documents that Quanta files with the Securities and Exchange Commission (SEC). For a discussion of these risks, uncertainties and assumptions, investors are advised to refer to Quanta's documents filed with the SEC that are available through the company's website at www.quantaservices.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at www.sec.gov. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. Quanta does not undertake and expressly disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Quanta further expressly disclaims any written or oral statements made by any third party regarding the subject matter of this press release.

 

Investors - Kip Rupp, CFA   

Media - Deborah Buks and Molly LeCronier                                                         

Quanta Services, Inc.

Ward Creative Communications

713-341-7260

713-869-0707  

 

SOURCE Quanta Services, Inc.