$PWR · QUANTA SERVICES, INC.
Quanta Services reported Q3 2026 results with record revenues of $12.01B, up 57% YoY from $7.63B. GAAP diluted EPS was $4.55 and adjusted diluted EPS was $6.06, both more than doubling from the prior-year quarter. The company significantly raised full-year 2026 guidance, now expecting adjusted diluted EPS of $17.90–$18.30 and revenues of $41.3B–$41.6B.
- Q3 revenues hit $12.01B, up 57% from $7.63B in Q3 2025
- GAAP diluted EPS of $4.55 vs $2.24 YoY; adjusted diluted EPS of $6.06 vs $3.33 YoY
- Total backlog reached a record $63.7B; remaining performance obligations at $41.8B
- Full-year 2026 adjusted EPS guidance raised to $17.90–$18.30, up significantly from prior expectations
- Operating cash flow of $1.5B and free cash flow of $1.2B in Q3 alone
Extended-hours trading shows PWR at $633.00, up 4.30% from the regular-session close of $606.89, reflecting strong positive reaction to the massive revenue beat and guidance raise. The $91.24B market-cap company is being repriced higher on 57% YoY revenue growth and record backlog.
Quanta's 57% revenue growth, record $63.7B backlog, and sharply raised guidance confirm it is a primary beneficiary of the multi-decade infrastructure buildout across grid modernization, data centers, and renewable energy.
Quanta's results underscore the infrastructure super-cycle driven by grid modernization, data center buildout, and renewable energy. The 57% revenue growth and $63.7B backlog dwarf peers in specialty contracting and EPC services, reinforcing Quanta's dominant position across electric and underground utility markets.
Forward-looking caveats include weather, regulatory, permitting, and supply chain challenges affecting project timing, plus macro risks from inflation, interest rates, and potential recessionary conditions. The $2.00B senior notes issuance in August 2026 adds leverage risk.