Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

17. QUARTERLY FINANCIAL DATA (UNAUDITED):

The table below sets forth the unaudited consolidated operating results by quarter for the years ended December 31, 2014 and 2013 (in thousands, except per share information).

	For the Three Months Ended
	March 31,		June 30,		September 30,		December 31,
2014:
Revenues	$	1,762,574	$	1,864,550	$	2,171,144	$	2,052,982
Gross profit		272,071		281,448		352,971		327,030
Net income		58,648		85,444		100,015		70,975
Net income attributable to common stock		54,408		81,082		94,648		66,576
Net income from continuing operations attributable to common stock		54,408		81,082		94,648		67,203
Earnings per share from continuing operations attributable to common stock — basic and diluted	$	0.25	$	0.37	$	0.43	$	0.30
2013:
Revenues	$	1,585,710	$	1,474,377	$	1,645,132	$	1,817,623
Gross profit		238,273		241,284		273,053		302,843
Net income		76,857		74,726		98,409		171,317
Net income attributable to common stock		72,081		70,237		92,906		166,697
Net income from continuing operations attributable to common stock		72,081		70,237		92,906		166,697
Earnings per share from continuing operations attributable to common stock — basic and diluted	$	0.34	$	0.33	$	0.43	$	0.77

During the third and fourth quarters of 2014, Quanta recorded charges of $52.5 million ($32.3 million net of tax) and $49.9 million ($30.3 million net of tax) associated with an electric power infrastructure services project completed in 2012. See Current and Long-Term Accounts and Notes Receivable and Allowance for Doubtful Accounts and Revenue Recognition in Note 2 and Legal Proceedings – Sunrise Powerlink Arbitration in Note 15. During the first quarter of 2014, Quanta recorded a charge of $38.8 million ($25.8 million net of tax) as a result of an arbitration decision related to a contract dispute on a 2010 directional drilling project. See Legal Proceedings – National Gas Company of Trinidad and Tobago Arbitration in Note 15. Additionally, during the fourth quarter of 2013, Quanta recorded a gain of $112.7 million ($70.5 million net of tax) on the sale of its equity ownership interest in HEP. See Investments in Affiliates and Other Entities in Note 2.

The sum of the individual quarterly earnings per share amounts may not equal year-to-date earnings per share as each period’s computation is based on the weighted average number of shares outstanding during the period.