Quanta Services stock rises on record quarter and higher outlook

Quanta Services reported a record third quarter on Thursday, October 29, and raised its full-year 2026 outlook across its main financial measures. The company said in its third-quarter results release that revenue, adjusted earnings and backlog reached records for the period.

Revenue and earnings accelerate

Revenue for the three months ended September 30, 2026, increased to 12.01 billion US dollars from 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, while diluted earnings per share increased to 4.55 US dollars from 2.24 US dollars.

Quanta reported adjusted diluted earnings per share of 6.06 US dollars, compared with 3.33 US dollars in the prior-year quarter. Adjusted EBITDA reached 1.45 billion US dollars, up from 858.3 million US dollars. Operating cash flow was 1.5 billion US dollars and free cash flow was 1.2 billion US dollars.

The Electric segment generated 9.80 billion US dollars of quarterly revenue, compared with 6.17 billion US dollars a year earlier. Its operating margin widened to 12.6 percent from 11.4 percent. Underground and Infrastructure revenue climbed to 2.22 billion US dollars from 1.46 billion US dollars, with the segment margin rising to 9.4 percent from 8.4 percent.

Higher guidance and record backlog

Quanta now expects 2026 revenue of 41.3 billion to 41.6 billion US dollars. The company also projects 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 is expected to reach 4.40 billion to 4.49 billion US dollars, while free cash flow is forecast at 2.50 billion to 3.00 billion US dollars.

Total backlog stood at 63.7 billion US dollars on September 30, up from 39.2 billion US dollars a year earlier. Remaining performance obligations accounted for 41.8 billion US dollars of the total. Quanta notes that backlog also includes estimated orders under master service agreements and certain short-term, non-fixed-price contracts, so the measure is not equivalent to firm orders alone.

Chief Executive Officer Duke Austin said demand was broadening across utility, power generation, industrial and technology customers. He also pointed to the company's ability to move skilled workers between end markets and said Quanta sees an opportunity for strong double-digit adjusted earnings-per-share growth in 2027, supported by continued backlog expansion.

Stock trades below latest Xetra close

Quanta Services stock traded at 553.00 euros on Lang & Schwarz at 12:00 CET on Friday, October 30, 3.42 percent below the Xetra close of 572.60 euros on Thursday, October 29. The Xetra reference and historical prices are shown on the Boursorama Xetra quote page.

Investors can follow the real-time quote of Quanta Services stock as the market weighs stronger near-term guidance against execution risks linked to permitting, project timing, weather, labor availability and acquisitions.

The S&P 500 provides the broader US equity market context for the stock.

More news and analyses on Quanta Services stock will track the conversion of backlog into revenue and cash flow.