PWR - Quanta Services Helps Utilities Feed Customers Who Are Becoming Power Gluttons
2024-06-03 08:06:32 ET
Summary
- As we know, past performance does not dictate future outcomes.
- Often, that comes to us as a warning.
- But it can also be an inspiration… when the future is likely to be much better than the past.
- I believe that’s so for Quanta Services, which will be helping utility clients handle surging demand for electricity.
- That’s why I’m bullish, even despite the stock’s now high valuation ratios.
Don't blame electricity customers. Blame the world.
It's changed a lot. And more change is coming.
Back when I started as a securities analyst in 1980, conservation was hip.
We had gone through two major oil embargoes in less than 10 years. Energy costs soared.
Shame on hogs who drove 6- or 8-cylinder gas guzzling cars. Those who chugged ahead slowly in their 4-cylinder economy cars were cool.
Shame on those who walked out of a room without turning off lights, televisions, etc. Shame on those who kept their spaces to warm in winter or too cool in summer. And shame on those who didn't pay up to better insulate their spaces.
We admired companies that made products that helped consumers and businesses conserve power.
(I don't remember exactly when smart light switches that automatically flipped on or off depending on whether anyone was in a space first appeared. But the inspiration dates back to that old conservation craze.)
That hurt OPEC. They thought they could rule the world as they sold or withheld oil at will....
Quanta Services Helps Utilities Feed Customers Who Are Becoming Power Gluttons