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Quanta Services Inc - Stock Quote PWR

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Morningstar's Quanta Services Inc Stock Analysis

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Solar Stocks Set to Jump as Biden Provides Tariff Reprieve

Brett Castelli Equity Analyst

Analyst Note

| Brett Castelli |

Solar stocks are set to jump on June 6 after reports the Biden administration will announce actions to alleviate uncertainty associated with tariffs on imported solar panels. The Biden administration is expected to provide a two-year halt to new solar tariffs, allowing much-needed near-term certainty for developers. We note many industry participants have delayed projects as they awaited clarity on the tariffs. Additionally, Biden plans to use the Defense Production Act to provide support for U.S.-made solar panels. We view these actions as aimed at balancing continued buildout of solar projects in the near term to support decarbonization goals, while looking to increase U.S. solar manufacturing over time.

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Quanta Services Inc's Company Profile

Business Description

Quanta Services is a leading provider of specialty contracting services, delivering comprehensive infrastructure solutions for the electric and gas utility, communications, pipeline, and energy industries in the United States, Canada, and Australia. Quanta reports its results under two reportable segments: electric power infrastructure solutions and underground utility and infrastructure solutions. In October 2021, the company completed the acquisition of Blattner, a provider of comprehensive engineering, procurement, and construction solutions to customers in the renewable energy industry.

Contact
2800 Post Oak Boulevard, Suite 2600
Houston, TX, 77056
T +1 713 629-7600
Sector Industrials
Industry Engineering & Construction
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 43,700