Quanta Services stock keeps higher outlook as late quote resets

Quanta Services stock retains a higher full-year outlook after the infrastructure contractor reported record third-quarter results on October 29, 2026. Management cited broad demand across utility, power generation, industrial and technology customers, while the latest report highlighted a large backlog and stronger fourth-quarter expectations.

Quanta Services stock traded at 509.00 euros on Lang & Schwarz at 17:41 CET on Wednesday, November 4, 2026, 6.62 percent below the 545.10-euro quote cited in the company's latest report at 15:12 CET the same day. This comparison measures the move since that report and is separate from a Xetra daily comparison.

Record revenue raises the bar

Revenue for the three months ended September 30 rose to USD 12.01 billion from USD 7.63 billion in the year-earlier quarter. Net income attributable to common stock increased to USD 694.9 million from USD 339.4 million, while diluted GAAP earnings per share reached USD 4.55 versus USD 2.24.

Adjusted diluted earnings per share rose to USD 6.06 from USD 3.33. Adjusted EBITDA reached USD 1.45 billion, compared with USD 858.3 million a year earlier, and free cash flow was USD 1.20 billion. Quanta says its adjusted measures exclude items including acquisition and integration costs, amortization, stock-based compensation and changes in contingent consideration.

Backlog supports the higher outlook

Total backlog stood at USD 63.7 billion at the end of September, including USD 41.8 billion in remaining performance obligations. Electric segment revenue reached USD 9.80 billion, up from USD 6.17 billion, while Underground and Infrastructure revenue increased to USD 2.22 billion from USD 1.46 billion.

Quanta now expects 2026 revenue of USD 41.3 billion to USD 41.6 billion, net income attributable to common stock of USD 1.92 billion to USD 1.98 billion and adjusted diluted earnings per share of USD 17.90 to USD 18.30. The outlook also calls for adjusted EBITDA of USD 4.40 billion to USD 4.49 billion and free cash flow of USD 2.50 billion to USD 3.00 billion.

Chief Executive Officer Duke Austin said the results exceeded expectations and pointed to incremental strength in the fourth quarter. Investors will focus next on project timing, backlog conversion, permitting, weather and the company's ability to sustain margin and cash-flow expansion.

The broader S&P 500 market remains the relevant benchmark for this US-listed infrastructure contractor.

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