Exhibit 99.1

  Quanta Services, Inc. and Subsidiaries 2015 Statement of Operations Recast for Discontinued Operations (In thousands, except per share data) (Unaudited)

	Three Months Ended March 31, 2015
Revenues	$	1,861,386
Cost of services (including depreciation)		1,623,480
Gross profit		237,906
Selling, general and administrative expenses		145,463
Amortization of intangible assets		8,293
Operating income		84,150
Interest expense		(1,400	)
Interest income		453
Other income (expense), net		(212	)
Income from continuing operations before income taxes		82,991
Provision for income taxes		30,601
Net income from continuing operations		52,390
Net income from discontinued operations		5,795
Net income		58,185
Less: Net income attributable to non-controlling interests		4,701
Net income attributable to common stock	$	53,484
Amounts attributable to common stock:
Net income from continuing operations	$	47,689
Net income from discontinued operations		5,795
Net income attributable to common stock	$	53,484
Earnings per share attributable to common stock - basic:
Continuing operations	$	0.22
Discontinued operations		0.03
Net income attributable to common stock	$	0.25
Earnings per share attributable to common stock - diluted:
Continuing operations	$	0.22
Discontinued operations		0.03
Net income attributable to common stock	$	0.25
Shares used in computing earnings per share:
Weighted average basic shares outstanding		215,473
Weighted average diluted shares outstanding		215,490

1

Quanta Services, Inc. and Subsidiaries 2014 Statements of Operations Recast for Discontinued Operations (In thousands, except per share data) (Unaudited)

	Three Months Ended March 31, 2014			Three Months Ended June 30, 2014			Six Months Ended June 30, 2014			Three Months Ended September 30, 2014			Nine Months Ended September 30, 2014			Three Months Ended December 31, 2014			Twelve Months Ended December 31, 2014
Revenues	$	1,735,448		$	1,838,209		$	3,573,657		$	2,145,958		$	5,719,615		$	2,027,614		$	7,747,229
Cost of services (including depreciation)		1,479,394			1,574,000			3,053,394			1,809,055			4,862,449			1,715,986			6,578,435
Gross profit		256,054			264,209			520,263			336,903			857,166			311,628			1,168,794
Selling, general and administrative expenses		168,889			135,210			304,099			196,494			500,593			204,884			705,477
Amortization of intangible assets		7,833			8,202			16,035			9,125			25,160			9,097			34,257
Operating income		79,332			120,797			200,129			131,284			331,413			97,647			429,060
Interest expense		(982	)		(1,128	)		(2,110	)		(1,321	)		(3,431	)		(1,334	)		(4,765	)
Interest income		1,542			599			2,141			900			3,041			695			3,736
Equity in earnings (losses) of unconsolidated affiliates		—			(332	)		(332	)		—			(332	)		—			(332	)
Other income (expense), net		644			(901	)		(257	)		(378	)		(635	)		(465	)		(1,100	)
Income from continuing operations before income taxes		80,536			119,035			199,571			130,485			330,056			96,543			426,599
Provision for income taxes		28,854			41,220			70,074			37,195			107,269			31,738			139,007
Net income from continuing operations		51,682			77,815			129,497			93,290			222,787			64,805			287,592
Net income from discontinued operations		6,966			7,629			14,595			6,725			21,320			6,170			27,490
Net income		58,648			85,444			144,092			100,015			244,107			70,975			315,082
Less: Net income attributable to non-controlling interests		4,240			4,362			8,602			5,367			13,969			4,399			18,368
Net income attributable to common stock	$	54,408		$	81,082		$	135,490		$	94,648		$	230,138		$	66,576		$	296,714
Amounts attributable to common stock:
Net income from continuing operations	$	47,442		$	73,453		$	120,895		$	87,923		$	208,818		$	60,406		$	269,224
Net income (loss) from discontinued operations		6,966			7,629			14,595			6,725			21,320			6,170			27,490
Net income attributable to common stock	$	54,408		$	81,082		$	135,490		$	94,648		$	230,138		$	66,576		$	296,714
Earnings (loss) per share attributable to common stock - basic: (a)
Continuing operations	$	0.22		$	0.33		$	0.55		$	0.40		$	0.95		$	0.27		$	1.22
Discontinued operations		0.03			0.04			0.07			0.03			0.10			0.03			0.13
Net income attributable to common stock	$	0.25		$	0.37		$	0.62		$	0.43		$	1.05		$	0.30		$	1.35
Earnings (loss) per share attributable to common stock - diluted: (a)
Continuing operations	$	0.22		$	0.33		$	0.55		$	0.40		$	0.95		$	0.27		$	1.22
Discontinued operations		0.03			0.04			0.07			0.03			0.10			0.03			0.13
Net income attributable to common stock	$	0.25		$	0.37		$	0.62		$	0.43		$	1.05		$	0.30		$	1.35
Shares used in computing earnings per share:
Weighted average basic shares outstanding		219,033			219,612			219,345			219,492			219,395			220,451			219,668
Weighted average diluted shares outstanding		219,075			219,642			219,375			219,517			219,420			220,472			219,690

^(a)  The sum of the individual quarterly earnings per share amounts may not equal year-to-date earnings per share as the computation for each quarterly period is based on the weighted average number of shares outstanding during that period.

2

	Quanta Services, Inc. and Subsidiaries
	2013 Statements of Operations Recast for Discontinued Operations
	(In thousands, except per share data)
	(Unaudited)

	Three Months Ended March 31, 2013			Three Months Ended June 30, 2013			Six Months Ended June 30, 2013			Three Months Ended September 30, 2013			Nine Months Ended September 30, 2013			Three Months Ended December 31, 2013			Twelve Months Ended December 31, 2013
Revenues	$	1,554,118		$	1,447,263		$	3,001,381		$	1,618,049		$	4,619,430		$	1,792,147		$	6,411,577
Cost of services (including depreciation)		1,336,304			1,223,377			2,559,681			1,362,172			3,921,853			1,502,791			5,424,644
Gross profit		217,814			223,886			441,700			255,877			697,577			289,356			986,933
Selling, general and administrative expenses		109,905			115,163			225,068			120,966			346,034			139,035			485,069
Amortization of intangible assets		4,888			4,667			9,555			6,613			16,168			9,697			25,865
Operating income		103,021			104,056			207,077			128,298			335,375			140,624			475,999
Interest expense		(502	)		(503	)		(1,005	)		(475	)		(1,480	)		(1,188	)		(2,668	)
Interest income		521			568			1,089			1,139			2,228			1,150			3,378
Equity in earnings of unconsolidated affiliates, including gain on sale of investment		—			—			—			—			—			112,744			112,744
Other income (expense), net		(514	)		(352	)		(866	)		(825	)		(1,691	)		558			(1,133	)
Income from continuing operations before income taxes		102,526			103,769			206,295			128,137			334,432			253,888			588,320
Provision for income taxes		35,388			36,796			72,184			37,724			109,908			86,967			196,875
Net income from continuing operations		67,138			66,973			134,111			90,413			224,524			166,921			391,445
Net income from discontinued operations		9,719			7,753			17,472			7,996			25,468			4,396			29,864
Net income		76,857			74,726			151,583			98,409			249,992			171,317			421,309
Less: Net income attributable to non-controlling interests		4,776			4,489			9,265			5,503			14,768			4,620			19,388
Net income attributable to common stock	$	72,081		$	70,237		$	142,318		$	92,906		$	235,224		$	166,697		$	401,921
Amounts attributable to common stock:
Net income from continuing operations	$	62,362		$	62,484		$	124,846		$	84,910		$	209,756		$	162,301		$	372,057
Net income (loss) from discontinued operations		9,719			7,753			17,472			7,996			25,468			4,396			29,864
Net income attributable to common stock	$	72,081		$	70,237		$	142,318		$	92,906		$	235,224		$	166,697		$	401,921
Earnings (loss) per share attributable to common stock - basic: (a)
Continuing operations	$	0.29		$	0.30		$	0.59		$	0.39		$	0.98		$	0.75		$	1.73
Discontinued operations		0.05			0.03			0.08			0.04			0.12			0.02			0.14
Net income attributable to common stock	$	0.34		$	0.33		$	0.67		$	0.43		$	1.10		$	0.77		$	1.87
Earnings (loss) per share attributable to common stock - diluted: (a)
Continuing operations	$	0.29		$	0.30		$	0.59		$	0.39		$	0.98		$	0.75		$	1.73
Discontinued operations		0.05			0.03			0.08			0.04			0.12			0.02			0.14
Net income attributable to common stock	$	0.34		$	0.33		$	0.67		$	0.43		$	1.10		$	0.77		$	1.87
Shares used in computing earnings per share:
Weighted average basic shares outstanding		213,453			214,314			213,833			214,866			214,178			217,287			214,929
Weighted average diluted shares outstanding		213,512			214,368			213,886			214,916			214,229			217,338			214,978

^(a)  The sum of the individual quarterly earnings per share amounts may not equal year-to-date earnings per share as the computation for each quarterly period is based on the weighted average number of shares outstanding during that period.

3

	Quanta Services, Inc. and Subsidiaries
	2015, 2014 and 2013 Segment Data Recast for Discontinued Operations
	(In thousands)
	(Unaudited)

	Three Months Ended March 31, 2015
Revenues:
Electric Power Infrastructure	$	1,240,292
Oil and Gas Infrastructure		621,094
Consolidated revenues	$	1,861,386
Operating income (loss):
Electric Power Infrastructure	$	108,992
Oil and Gas Infrastructure		24,147
Corporate and Non-Allocated Costs		(48,989	)
Consolidated operating income	$	84,150
	Three Months Ended March 31, 2014			Three Months Ended June 30, 2014			Six Months Ended June 30, 2014			Three Months Ended September 30, 2014			Nine Months Ended September 30, 2014			Three Months Ended December 31, 2014			Twelve Months Ended December 31, 2014
Revenues:
Electric Power Infrastructure	$	1,289,591		$	1,252,842		$	2,542,433		$	1,396,157		$	3,938,590		$	1,364,081		$	5,302,671
Oil and Gas Infrastructure		445,857			585,367			1,031,224			749,801			1,781,025			663,533			2,444,558
Consolidated revenues	$	1,735,448		$	1,838,209		$	3,573,657		$	2,145,958		$	5,719,615		$	2,027,614		$	7,747,229
Operating income (loss):
Electric Power Infrastructure	$	144,488		$	112,836		$	257,324		$	104,365		$	361,689		$	101,296		$	462,985
Oil and Gas Infrastructure		(21,172	)		55,583			34,411			74,824			109,235			53,562			162,797
Corporate and Non-Allocated Costs		(43,984	)		(47,622	)		(91,606	)		(47,905	)		(139,511	)		(57,211	)		(196,722	)
Consolidated operating income	$	79,332		$	120,797		$	200,129		$	131,284		$	331,413		$	97,647		$	429,060
	Three Months Ended March 31, 2013			Three Months Ended June 30, 2013			Six Months Ended June 30, 2013			Three Months Ended September 30, 2013			Nine Months Ended September 30, 2013			Three Months Ended December 31, 2013			Twelve Months Ended December 31, 2013
Revenues:
Electric Power Infrastructure	$	1,195,186		$	1,061,321		$	2,256,507		$	1,065,669		$	3,322,176		$	1,219,786		$	4,541,962
Oil and Gas Infrastructure		358,932			385,942			744,874			552,380			1,297,254			572,361			1,869,615
Consolidated revenues	$	1,554,118		$	1,447,263		$	3,001,381		$	1,618,049		$	4,619,430		$	1,792,147		$	6,411,577
Operating income (loss):
Electric Power Infrastructure	$	132,483		$	121,324		$	253,807		$	122,973		$	376,780		$	146,575		$	523,355
Oil and Gas Infrastructure		10,357			27,644			38,001			49,873			87,874			50,669			138,543
Corporate and Non-Allocated Costs		(39,819	)		(44,912	)		(84,731	)		(44,548	)		(129,279	)		(56,620	)		(185,899	)
Consolidated operating income	$	103,021		$	104,056		$	207,077		$	128,298		$	335,375		$	140,624		$	475,999

4

	Quanta Services, Inc. and Subsidiaries
	Reconciliation of 2015 Non-GAAP Financial Measures Recast for Discontinued Operations
	(In thousands, except per share data)
	(Unaudited)

The following table presents the non-GAAP financial measure of adjusted diluted earnings per share from continuing operations for the first quarter of 2015. The non-GAAP measure of adjusted diluted earnings per share from continuing operations is provided to enable investors to evaluate performance excluding the effects of items that management believes impact the comparability of operating results between periods. As to certain of the items below, (i) amortization of intangible assets is impacted by Quanta’s acquisition activity, which can cause these amounts to vary from period to period; (ii) non-cash stock-based compensation expense may vary due to acquisition activity, factors influencing the estimated fair value of performance-based awards, forfeiture rates, accelerated vesting and amounts granted during the period and (iii) acquisition costs vary period to period depending on the level of Quanta’s acquisition activity ongoing during the period.

	Three Months Ended March 31, 2015
Adjusted diluted earnings per share from continuing operations:
Net income from continuing operations attributable to common stock (GAAP as reported)	$	47,689
Adjustments, net of income taxes:
Acquisition and integration costs		1,232
Adjusted net income from continuing operations attributable to common stock before certain non-cash adjustments		48,921
Non-cash stock-based compensation, net of income taxes (d)		5,777
Amortization of intangible assets, net of income taxes (d)		5,606
Adjusted net income from continuing operations attributable to common stock for adjusted diluted earnings per share from continuing operations	$	60,304
Calculation of weighted average shares for adjusted diluted earnings per share from continuing operations:
Weighted average shares outstanding for basic earnings per share		215,473
Effect of dilutive stock options		17
Weighted average shares outstanding for adjusted diluted earnings per share		215,490
Adjusted diluted earnings per share from continuing operations (e)	$	0.28

5

	Quanta Services, Inc. and Subsidiaries
	Reconciliation of 2014 Non-GAAP Financial Measures Recast for Discontinued Operations
	(In thousands, except per share data)
	(Unaudited)

The following table presents the non-GAAP financial measure of adjusted diluted earnings per share from continuing operations for the four quarters of 2014, along with the corresponding year-to-date amounts for each period presented. The non-GAAP measure of adjusted diluted earnings per share from continuing operations is provided to enable investors to evaluate performance excluding the effects of items that management believes impact the comparability of operating results between periods. As to certain of the items below, (i) amortization of intangible assets is impacted by Quanta’s acquisition activity, which can cause these amounts to vary from period to period; (ii) non-cash stock-based compensation expense may vary due to acquisition activity, factors influencing the estimated fair value of performance-based awards, forfeiture rates, accelerated vesting and amounts granted during the period, (iii) acquisition costs vary period to period depending on the level of Quanta’s acquisition activity ongoing during the period and (iv) tax contingency releases vary period to period depending on the level of reserves for uncertain tax positions and the expiration dates of various federal and state tax statutes of limitations. Additionally, the following items are not regularly occurring operational items: (i) the charge to provision for long-term contract receivable and (ii) the expense associated with the arbitration decision.

	Three Months Ended March 31, 2014		Three Months Ended June 30, 2014		Six Months Ended June 30, 2014		Three Months Ended September 30, 2014			Nine Months Ended September 30, 2014			Three Months Ended December 31, 2014			Twelve Months Ended December 31, 2014
Adjusted diluted earnings per share from continuing operations:
Net income from continuing operations attributable to common stock (GAAP as reported)	$	47,442	$	73,453	$	120,895	$	87,923		$	208,818		$	60,406		$	269,224
Adjustments, net of income taxes:
Provision for long-term contract receivable (a)		—		—		—		32,287			32,287			30,265			62,552
Arbitration expense (b)		25,822		—		25,822		—			25,822			—			25,822
Impact of tax contingency releases (c)		—		—		—		(4,883	)		(4,883	)		(3,216	)		(8,099	)
Acquisition and integration costs		3,628		762		4,390		1,383			5,773			5,980			11,753
Adjusted net income from continuing operations attributable to common stock before certain non-cash adjustments		76,892		74,215		151,107		116,710			267,817			93,435			361,252
Non-cash stock-based compensation, net of income taxes (d)		6,003		6,107		12,110		4,512			16,622			6,222			22,844
Amortization of intangible assets, net of income taxes (d)		4,943		5,391		10,334		6,055			16,389			6,020			22,409
Adjusted net income from continuing operations attributable to common stock for adjusted diluted earnings per share from continuing operations	$	87,838	$	85,713	$	173,551	$	127,277		$	300,828		$	105,677		$	406,505
Calculation of weighted average shares for adjusted diluted earnings per share from continuing operations:
Weighted average shares outstanding for basic earnings per share		219,033		219,612		219,345		219,492			219,395			220,451			219,668
Effect of dilutive stock options		42		30		30		25			25			21			22
Weighted average shares outstanding for adjusted diluted earnings per share		219,075		219,642		219,375		219,517			219,420			220,472			219,690
Adjusted diluted earnings per share from continuing operations (e)	$	0.40	$	0.39	$	0.79	$	0.58		$	1.37		$	0.48		$	1.85

(a) These amounts reflect the elimination of charges to provision for long-term contract receivable associated with an electric power infrastructure services project completed in 2012.

(b) These amounts reflect the elimination of the expense recorded in the first quarter of 2014 resulting from an arbitration decision associated with a contract dispute on a 2010 directional drilling project.

(c) These amounts reflect the elimination of tax benefits primarily associated with the expiration of various federal and state tax statute of limitations periods.

(d) These amounts are attributable to continuing operations.

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

6

	Quanta Services, Inc. and Subsidiaries
	Reconciliation of 2013 Non-GAAP Financial Measures Recast for Discontinued Operations
	(In thousands, except per share data)
	(Unaudited)

The following table presents the non-GAAP financial measure of adjusted diluted earnings per share from continuing operations for the four quarters of 2013, along with the corresponding year-to-date amounts for each period presented. The non-GAAP measure of adjusted diluted earnings per share from continuing operations is provided to enable investors to evaluate performance excluding the effects of items that management believes impact the comparability of operating results between periods. As to certain of the items below, (i) amortization of intangible assets is impacted by Quanta’s acquisition activity, which can cause these amounts to vary from period to period; (ii) non-cash stock-based compensation expense may vary due to acquisition activity, factors influencing the estimated fair value of performance-based awards, forfeiture rates, accelerated vesting and amounts granted during the period, (iii) acquisition costs vary period to period depending on the level of Quanta’s acquisition activity ongoing during the period, and (iv) tax contingency releases vary period to period depending on the level of reserves for uncertain tax positions and the expiration dates of various federal and state tax statutes of limitations. Additionally, the gain on the sale of an equity ownership interest is not a regularly occurring operational item.

	Three Months Ended March 31, 2013		Three Months Ended June 30, 2013		Six Months Ended June 30, 2013		Three Months Ended September 30, 2013			Nine Months Ended September 30, 2013			Three Months Ended December 31, 2013			Twelve Months Ended December 31, 2013
Adjusted diluted earnings per share from continuing operations:
Net income from continuing operations attributable to common stock (GAAP as reported)	$	62,362	$	62,484	$	124,846	$	84,910		$	209,756		$	162,301		$	372,057
Adjustments, net of income taxes:
Impact of sale of equity ownership in Howard Energy (a)		—		—		—		—			—			(70,477	)		(70,477	)
Impact of tax contingency releases (b)		—		—		—		(6,552	)		(6,552	)		(3,383	)		(9,935	)
Acquisition and integration costs		450		742		1,192		2,546			3,738			1,976			5,714
Adjusted net income from continuing operations attributable to common stock before certain non-cash adjustments		62,812		63,226		126,038		80,904			206,942			90,417			297,359
Non-cash stock-based compensation, net of income taxes (c)		4,702		7,132		11,834		4,462			16,296			4,677			20,973
Amortization of intangible assets, net of income taxes (c)		3,142		2,977		6,119		4,256			10,375			6,183			16,558
Adjusted net income from continuing operations attributable to common stock for adjusted diluted earnings per share	$	70,656	$	73,335	$	143,991	$	89,622		$	233,613		$	101,277		$	334,890
Calculation of weighted average shares for adjusted diluted earnings per share from continuing operations:
Weighted average shares outstanding for basic earnings per share		213,453		214,314		213,833		214,866			214,178			217,287			214,929
Effect of dilutive stock options		59		54		53		50			51			51			49
Weighted average shares outstanding for adjusted diluted earnings per share		213,512		214,368		213,886		214,916			214,229			217,338			214,978
Adjusted diluted earnings per share from continuing operations (d)	$	0.33	$	0.34	$	0.67	$	0.42		$	1.09		$	0.47		$	1.56

(a) These amounts reflect the elimination of the gain on sale by Quanta of its equity ownership interest in Howard Midstream Energy Partners, LLC for cash proceeds of approximately $221 million on Dec. 6, 2013.

(b) These amounts reflect the elimination of tax benefits primarily associated with the expiration of various federal and state tax statute of limitations periods.

(c) These amounts are attributable to continuing operations.

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

7

	Quanta Services, Inc. and Subsidiaries
	Reconciliation of 2015 EBITA, EBITDA and Adjusted EBITDA Recast for Discontinued Operations
	(In thousands)
	(Unaudited)

The following tables present the non-GAAP financial measures of EBITA, EBITDA and Adjusted EBITDA for the first quarter of 2015 recast to exclude the impact of discontinued operations. Management believes that EBITA, or earnings before interest, taxes and amortization, EBITDA and Adjusted EBITDA, which is earnings before interest, taxes, depreciation, amortization and certain other expenses as described below, provide useful information to investors, analysts and management in evaluating Quanta’s operating results period to period or in comparison with the results of Quanta’s competitors. These measures should not be considered as an alternative to cash flow from operating activities or as a measure of liquidity or as an alternative to net income or other measures of performance that are derived in accordance with GAAP.

	Three Months Ended March 31, 2015
Reconciliation of EBITA, EBITDA and Adjusted EBITDA:
Net income from continuing operations attributable to common stock	$	47,689
Interest expense		1,400
Interest income		(453	)
Provision for income taxes		30,601
Amortization of intangible assets		8,293
EBITA		87,530
Depreciation expense		39,398
EBITDA		126,928
Acquisition and integration costs		1,479
Non-cash stock-based compensation		9,471
Adjusted EBITDA	$	137,878

8

	Quanta Services, Inc. and Subsidiaries
	Reconciliation of 2014 EBITA, EBITDA and Adjusted EBITDA Recast for Discontinued Operations
	(In thousands)
	(Unaudited)

The following tables present the non-GAAP financial measures of EBITA, EBITDA and Adjusted EBITDA for all four quarters of 2014 along with the corresponding year-to-date amounts for each period presented, all recast to exclude the impact of discontinued operations. Management believes that EBITA, or earnings before interest, taxes and amortization, EBITDA and Adjusted EBITDA, which is earnings before interest, taxes, depreciation, amortization and certain other expenses as described below, provide useful information to investors, analysts and management in evaluating Quanta’s operating results period to period or in comparison with the results of Quanta’s competitors. These measures should not be considered as an alternative to cash flow from operating activities or as a measure of liquidity or as an alternative to net income or other measures of performance that are derived in accordance with GAAP.

	Three Months Ended March 31, 2014			Three Months Ended June 30, 2014			Six Months Ended June 30, 2014			Three Months Ended September 30, 2014			Nine Months Ended September 30, 2014			Three Months Ended December 31, 2014			Twelve Months Ended December 31, 2014
Reconciliation of EBITA, EBITDA and Adjusted EBITDA:
Net income from continuing operations attributable to common stock	$	47,442		$	73,453		$	120,895		$	87,923		$	208,818		$	60,406		$	269,224
Interest expense		982			1,128			2,110			1,321			3,431			1,334			4,765
Interest income		(1,542	)		(599	)		(2,141	)		(900	)		(3,041	)		(695	)		(3,736	)
Provision for income taxes		28,854			41,220			70,074			37,195			107,269			31,738			139,007
Amortization of intangible assets		7,833			8,202			16,035			9,125			25,160			9,097			34,257
Equity in earnings (losses) of unconsolidated subsidiaries		—			332			332			—			332			—			332
EBITA		83,569			123,736			207,305			134,664			341,969			101,880			443,849
Depreciation expense		32,847			33,907			66,754			36,485			103,239			37,867			141,106
EBITDA		116,416			157,643			274,059			171,149			445,208			139,747			584,955
Acquisition and integration costs		4,478			1,162			5,640			1,633			7,273			7,481			14,754
Non-cash stock-based compensation		9,840			10,012			19,852			7,397			27,249			10,200			37,449
Provision for long-term contract receivable		—			—			—			52,542			52,542			49,918			102,460
Arbitration expense		38,848			—			38,848			—			38,848			—			38,848
Adjusted EBITDA	$	169,582		$	168,817		$	338,399		$	232,721		$	571,120		$	207,346		$	778,466

9

	Quanta Services, Inc. and Subsidiaries
	Reconciliation of 2013 EBITA, EBITDA and Adjusted EBITDA Recast for Discontinued Operations
	(In thousands)
	(Unaudited)

The following tables present the non-GAAP financial measures of EBITA, EBITDA and Adjusted EBITDA for all four quarters of 2013 along with the corresponding year-to-date amounts for each period presented, all recast to exclude the impact of discontinued operations. Management believes that EBITA, or earnings before interest, taxes and amortization, EBITDA and Adjusted EBITDA, which is earnings before interest, taxes, depreciation, amortization and certain other expenses as described below, provide useful information to investors, analysts and management in evaluating Quanta’s operating results period to period or in comparison with the results of Quanta’s competitors. These measures should not be considered as an alternative to cash flow from operating activities or as a measure of liquidity or as an alternative to net income or other measures of performance that are derived in accordance with GAAP.

	Three Months Ended March 31, 2013			Three Months Ended June 30, 2013			Six Months Ended June 30, 2013			Three Months Ended September 30, 2013			Nine Months Ended September 30, 2013			Three Months Ended December 31, 2013			Twelve Months Ended December 31, 2013
Reconciliation of EBITA, EBITDA and Adjusted EBITDA:
Net income from continuing operations attributable to common stock	$	62,362		$	62,484		$	124,846		$	84,910		$	209,756		$	162,301		$	372,057
Interest expense		502			503			1,005			475			1,480			1,188			2,668
Interest income		(521	)		(568	)		(1,089	)		(1,139	)		(2,228	)		(1,150	)		(3,378	)
Provision for income taxes		35,388			36,796			72,184			37,724			109,908			86,967			196,875
Amortization of intangible assets		4,888			4,667			9,555			6,613			16,168			9,697			25,865
EBITA		102,619			103,882			206,501			128,583			335,084			259,003			594,087
Depreciation expense		28,175			29,243			57,418			30,009			87,427			31,403			118,830
EBITDA		130,794			133,125			263,919			158,592			422,511			290,406			712,917
Acquisition and integration costs		607			1,121			1,728			2,449			4,177			3,968			8,145
Non-cash stock-based compensation		7,708			11,692			19,400			7,314			26,714			7,667			34,381
Gain on sale of Howard Energy		—			—			—			—			—			(112,744	)		(112,744	)
Adjusted EBITDA	$	139,109		$	145,938		$	285,047		$	168,355		$	453,402		$	189,297		$	642,699

10

	Quanta Services, Inc. and Subsidiaries
	2015, 2014 and 2013 Backlog Recast for Discontinued Operations
	(In millions)
	(Unaudited)

Backlog is not a term recognized under United States GAAP; however, it is a common measurement used in Quanta’s industry. Quanta’s methodology for determining backlog may not be comparable to the methodologies used by other companies. Quanta’s backlog represents the amount of consolidated revenue that it expects to realize from future work under construction contracts, long-term maintenance contracts and master service agreements. These estimates include revenues from the remaining portion of firm orders not yet completed and on which work has not yet begun, as well as revenues from change orders, renewal options, and funded and unfunded portions of government contracts to the extent that they are reasonably expected to occur. For purposes of calculating backlog, Quanta includes 100% of estimated revenues attributable to consolidated joint ventures and variable interest entities.

11

The following table presents Quanta’s total backlog by reportable segment as of the end of the first quarter of 2015 and all four quarters of 2014 and 2013, along with an estimate of the backlog amounts expected to be realized within 12 months of each date (in millions):

	Backlog as of
	March 31,
	2015
	12 Month		Total
Electric Power Infrastructure Services	$	3,232.5	$	6,442.1
Oil and Gas Infrastructure Services		1,862.7		2,679.4
Backlog from continuing operations	$	5,095.2	$	9,121.5
	Backlog as of
	March 31,				June 30,				September 30,				December 31,
	2014				2014				2014				2014
	12 Month		Total		12 Month		Total		12 Month		Total		12 Month		Total
Electric Power Infrastructure Services	$	3,398.9	$	6,252.6	$	3,301.2	$	5,932.9	$	3,521.8	$	6,558.6	$	3,395.1	$	6,715.6
Oil and Gas Infrastructure Services		1,509.3		2,281.7		1,317.7		2,220.4		1,632.0		2,552.2		1,824.6		2,520.6
Backlog from continuing operations	$	4,908.2	$	8,534.3	$	4,618.9	$	8,153.3	$	5,153.8	$	9,110.8	$	5,219.7	$	9,236.2

	Backlog as of
	March 31,				June 30,				September 30,				December 31,
	2013				2013				2013				2013
	12 Month		Total		12 Month		Total		12 Month		Total		12 Month		Total
Electric Power Infrastructure Services	$	2,800.4	$	4,886.5	$	2,709.9	$	4,974.9	$	2,962.3	$	5,377.5	$	3,388.7	$	6,018.1
Oil and Gas Infrastructure Services		918.8		1,659.0		968.9		2,051.8		1,305.7		2,220.8		1,515.6		2,218.5
Backlog from continuing operations	$	3,719.2	$	6,545.5	$	3,678.8	$	7,026.7	$	4,268.0	$	7,598.3	$	4,904.3	$	8,236.6

12