Quanta Services (NYSE:PWR) Issues Earnings Results

Quanta Services (NYSE:PWR) announced its quarterly earnings results on Thursday. The construction company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.02 by $1.04, FiscalAI reports. Quanta Services had a net margin of 4.03% and a return on equity of 20.55%. The firm had revenue of $12.01 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same period in the prior year, the firm posted $3.33 earnings per share. The company’s revenue for the quarter was up 57.4% on a year-over-year basis.

Here are the key takeaways from Quanta Services’ conference call:

• Record third-quarter results substantially exceeded expectations: revenue rose 57% to $12 billion, adjusted EBITDA increased 69% to $1.4 billion, adjusted EPS climbed 82% to $6.06, and free cash flow reached a quarterly record of $1.2 billion.
• Quanta significantly raised its 2026 outlook, now forecasting $41.3 billion–$41.6 billion of revenue, $4.4 billion–$4.49 billion of adjusted EBITDA, $17.90–$18.30 of adjusted EPS, and $2.5 billion–$3 billion of free cash flow.
• Record backlog reached approximately $64 billion, up $10 billion sequentially, with broad-based growth across utility, renewable, generation, transmission, technology, and large-load markets. Management said demand visibility extends beyond 2030 and expects strong double-digit adjusted EPS growth again in 2027.
• Quanta strengthened its balance sheet and operating capacity, ending the quarter with $2.3 billion of cash, $5.2 billion of total liquidity, and a 1.3x leverage ratio. The company is also investing in training, fabrication, manufacturing, and supply-chain capabilities to address labor and equipment constraints.
• Management views supply-chain availability—particularly transformers, breakers, poles, and other OEM equipment—as a greater potential constraint than labor or demand. Quanta is mitigating the risk through supplier partnerships, acquisitions, and selective manufacturing investments, while acknowledging that growth depends partly on OEM capacity.

Quanta Services Stock Up 4.3%

Shares of Quanta Services stock traded up $25.90 on Thursday, reaching $632.79. The company’s stock had a trading volume of 2,010,114 shares, compared to its average volume of 1,194,125. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 0.56. Quanta Services has a 52 week low of $408.36 and a 52 week high of $788.75. The company has a market capitalization of $95.13 billion, a price-to-earnings ratio of 72.48, a P/E/G ratio of 1.79 and a beta of 1.27. The firm’s fifty day simple moving average is $633.61 and its two-hundred day simple moving average is $622.23.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Thursday, October 1st were issued a $0.11 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is presently 5.04%.

More Quanta Services News

Here are the key news stories impacting Quanta Services this week:

• Positive Sentiment: Record earnings beat expectations. Third-quarter adjusted EPS was $6.06 versus the $5.02 consensus estimate, while revenue reached a record $12.01 billion, well above estimates of $11.03 billion and 57.4% higher than a year earlier. GAAP EPS was $4.55, compared with $2.24 in the prior-year quarter. Quanta Services Reports Third Quarter 2026 Results
• Positive Sentiment: Management raised its full-year outlook. Quanta now expects 2026 revenue of approximately $41.3 billion to $41.6 billion and diluted EPS of $12.57 to $12.97, reflecting stronger operating performance and demand. PWR Q3 Earnings Beat on Electric Strength, 2026 View Raised
• Positive Sentiment: Visibility remains strong. Total backlog increased to $63.7 billion and remaining performance obligations reached $41.8 billion. Operating cash flow was $1.5 billion and free cash flow was $1.2 billion, supporting confidence in execution and cash generation. Quanta Services Delivers Record Q3 Results, Raises Outlook
• Neutral Sentiment: The company completed two acquisitions for roughly $245 million, potentially expanding capabilities but also adding integration demands and capital commitments. Management’s earnings call emphasized sustained electric-infrastructure demand as a primary growth driver. Quanta Services Q3 2026 Earnings Call Summary
• Negative Sentiment: At roughly 72 times earnings, the stock carries a demanding valuation, leaving less room for execution shortfalls. Separately, reported insider activity showed substantial selling and no insider purchases over the past six months, a potential sentiment overhang, though it does not change the quarter’s strong fundamentals. Quanta Services Posts Third-Quarter Results

Analyst Upgrades and Downgrades

PWR has been the subject of several research analyst reports. BTIG Research lowered Quanta Services to a “hold” rating in a research note on Friday, July 31st. Weiss Ratings raised shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, October 13th. Wall Street Zen cut Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, September 12th. Jefferies Financial Group reissued a “buy” rating and issued a $833.00 target price on shares of Quanta Services in a research note on Thursday, August 13th. Finally, TD Cowen reiterated a “buy” rating on shares of Quanta Services in a research report on Thursday. Twenty-three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $764.46.

Quanta Services Company Profile

Quanta Services, Inc is an infrastructure solutions provider headquartered in Houston, Texas. The company designs, installs, repairs, maintains and upgrades essential infrastructure for the electric power, communications, pipeline, industrial and energy industries.

Its services include electric transmission and distribution construction, substation and renewable-energy infrastructure, storm restoration, fiber-optic and wireless communications networks, natural gas and pipeline construction, and related engineering and maintenance work.