Quanta Services stock holds firm on backlog strength

Quanta Services (US74762E1029) is backed by a $33.7 billion backlog at 31 December 2024, while 2024 revenue reached $23.68 billion and adjusted diluted EPS rose to $6.93. The company also reported 2024 adjusted EBITDA of $2.18 billion, giving the stock a current valuation story rooted in scale rather than a single catalyst.

Backlog above $33 billion

Quanta said its backlog totaled $33.7 billion at 31 December 2024, up from $31.16 billion at 31 December 2023, a year-over-year increase of $2.54 billion. That comparison matters because it shows how the pipeline expanded even before the next earnings cycle is priced in.

Revenue for 2024 increased to $23.68 billion from $20.93 billion in 2023, a rise of $2.75 billion. Adjusted EBITDA moved to $2.18 billion from $1.77 billion, and adjusted diluted EPS improved to $6.93 from $5.73, according to the companys 2024 annual report.

Margins and earnings power

The margin profile improved alongside the top line. Quanta reported 2024 adjusted EBITDA margin of 9.2%, compared with 8.5% in 2023, while adjusted diluted EPS increased by $1.20 year over year.

For investors, that combination is more important than a single day of trading because it links backlog, revenue conversion and earnings growth in the same reporting period. The annual report also showed net income of $589.0 million for 2024, versus $531.3 million in 2023.

Utility and telecom demand

Quanta builds and maintains infrastructure for electric power, underground utility, renewable energy, pipeline, communications and other industrial customers. That mix makes backlog and revenue conversion the most useful metrics for reading the stock.

The annual report shows the company ended 2024 with 31,000 employees, up from 29,700 at the end of 2023, which underlines the scale needed to execute large project work across North America.

Market value and listing

Quanta Services trades on the New York Stock Exchange under PWR. Based on the companys 2024 results, the stock story rests on a $33.7 billion backlog, $23.68 billion in revenue and $6.93 in adjusted diluted EPS, all of which point to a business that kept expanding through 2024.

Product and project footprint

The companys work spans transmission lines, substations, renewable power, underground utility systems and communications networks. That project mix is why backlog, rather than a consumer product, is the clearest product-level gauge for Quanta Services stock.

Quanta Services shares on NYSE

Quanta Services shares are listed on the New York Stock Exchange and the stock is identified by ticker PWR. No dated live quote is included here, so the most current verified market frame in this article is the 2024 annual result set and year-end backlog.