Quanta Services stock keeps higher outlook after record quarter

Quanta Services reported a record third quarter on October 29, 2026, and raised its full-year outlook across key financial measures. In its investor release, the infrastructure contractor said revenue for the three months ended September 30 reached 12.01 billion US dollars, compared with 7.63 billion US dollars a year earlier.

Net income attributable to common stock rose to 694.9 million US dollars from 339.4 million US dollars. GAAP diluted earnings per share increased to 4.55 US dollars from 2.24 US dollars, while adjusted diluted earnings per share rose to 6.06 US dollars from 3.33 US dollars. Adjusted EBITDA reached 1.45 billion US dollars, up from 858.3 million US dollars in the prior-year quarter.

Higher Guidance Follows Strong Execution

Quanta now expects 2026 revenue of 41.3 billion to 41.6 billion US dollars. The company also forecasts net income attributable to common stock of 1.92 billion to 1.98 billion US dollars, diluted earnings per share of 12.57 to 12.97 US dollars and adjusted diluted earnings per share of 17.90 to 18.30 US dollars.

Adjusted EBITDA guidance stands at 4.40 billion to 4.49 billion US dollars. Quanta expects operating cash flow of 3.45 billion to 4.00 billion US dollars and free cash flow of 2.50 billion to 3.00 billion US dollars. The forecast reflects management's expectation of additional strength in the fourth quarter.

Chief Executive Officer Duke Austin said the portfolio's breadth and the ability to redeploy skilled workers across end markets support more consistent execution. He pointed to demand from utility, power generation, industrial and technology customers and said the company sees an opportunity for strong double-digit adjusted earnings-per-share growth in 2027.

Backlog Supports Multi-Year Visibility

Total backlog stood at 63.7 billion US dollars at September 30, including 41.8 billion US dollars of remaining performance obligations. Backlog also includes estimated orders under master service agreements and certain short-term, non-fixed-price contracts, so the total is not identical to firm contracted work.

The Electric segment generated 9.80 billion US dollars of quarterly revenue, while Underground and Infrastructure contributed 2.22 billion US dollars. Consolidated operating income rose to 1.03 billion US dollars from 517.2 million US dollars, lifting the operating margin to 8.5 percent from 6.8 percent.

The real-time quote of Quanta Services stock was 504.40 euros on Lang & Schwarz at 15:03 CET on Thursday, November 5, 2026.

The broader US equity market can be followed through current S&P 500 market reports.

More news and analyses on Quanta Services stock.