Quanta Services stock gains on raised 2026 outlook and data center demand

Published on 09/19/2026 at 10:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Quanta Services stock benefits from a raised 2026 revenue outlook of USD 39.3-39.7 billion and adjusted EPS of USD 16.45-16.95 as of September 18, 2026. The shares are up 46.1% year to date while trading 21.8% below their 52-week high, highlighting both momentum and room for further moves.

Makrofoto eines geflochtenen Stahlkabels mit Wassertropfen in Nahaufnahme — Quanta Services Inc. (ISIN US74762E1029) Makroaufnahme zeigt geflochtenes Stahlseil mit Wassertropfen in Detailschärfe, Illustration mit AI erstellt.

Quanta Services, Inc. stock (ISIN US74762E1029) is drawing investor attention after the company raised its 2026 outlook and accelerated an acquisition-driven push into power and data center infrastructure, with the latest guidance update reported on September 18, 2026. According to Zacks Investment Research, Quanta now expects 2026 revenues of USD 39.3-39.7 billion, up from a prior band of USD 34.7-35.2 billion, and adjusted EPS of USD 16.45-16.95 versus an earlier projection of USD 13.55-14.25.

Raised outlook anchored by acquisitions

The key fundamental driver behind the stronger 2026 outlook is a series of acquisitions completed in 2026 that deepen Quanta Services' capabilities across power infrastructure and related services. As Zacks Investment Research reports, Quanta acquired Phalcon, Enerfab, Percheron and PSD in 2026, paying approximately USD 1.24 billion of upfront consideration net of cash acquired, including about USD 1.07 billion in cash and USD 173.3 million in stock, with additional contingent consideration of up to USD 242.3 million.

According to the same analysis from Zacks Investment Research, Quanta expects these acquired businesses to contribute USD 1.2-1.4 billion of revenues and USD 120-140 million of adjusted EBITDA in 2026. That incremental contribution is a notable step-up in scale and profitability, and it underpins the raised revenue band of USD 39.3-39.7 billion, compared with the previous USD 34.7-35.2 billion guidance range, as well as the higher adjusted EPS corridor of USD 16.45-16.95 versus USD 13.55-14.25.

Backlog and data center demand support long-term growth

Beyond the near-term acquisition boost, Quanta's core business appears to have a solid pipeline of work. As detailed by Zacks Investment Research, Quanta is carrying a record backlog of roughly USD 53 billion, which provides visibility into future projects in electric power, gas, renewable energy and communications infrastructure. This backlog is particularly important for investors who focus on earnings durability in capital-intensive, project-based businesses.

Surging demand linked to artificial intelligence and data centers is another pillar of the long-term thesis. According to Zacks Investment Research, AI-related power demand and expanding utility investments are driving data center project opportunities, making data centers a central pillar of Quanta Services' long-term growth strategy. This thematic exposure helps explain why the company's earnings estimates for 2026 and 2027 have been revised upward, with the 2026 consensus moving to USD 16.45 per share and 2027 estimates to USD 19.04 per share, implying year-over-year growth of 53 percent and 15.7 percent respectively.

Analyst view and valuation context

On the analyst side, Quanta Services currently enjoys a favorable rating profile. As Zacks Investment Research notes, the stock holds a Zacks Rank #1 (Strong Buy) as of September 18, 2026. Zacks also highlights that Quanta's new USD 1 billion share repurchase authorization and its ongoing quarterly dividend program underline the company's financial flexibility and shareholder-return potential.

At the same time, valuation is elevated relative to peers, a key risk factor for investors. According to Zacks Investment Research, Quanta Services stock is trading at a forward 12-month price-to-earnings ratio of 33.87, which is described as a premium versus its industry peers in engineering and construction. That premium valuation reflects strong growth expectations but also means that disappointments relative to the raised guidance could have a pronounced impact on the share price.

Share performance and distance from the high

The stock's recent performance underscores how investors have responded to the improved outlook and sector tailwinds. As reported by Zacks Investment Research on September 18, 2026, Quanta Services stock has gained 46.1 percent year to date, outpacing both the Zacks Engineering - R and D Services industry and the broader Zacks Construction sector, as well as the S&P 500 index. In a separate note focusing on AI-driven infrastructure opportunities, Zacks Investment Research points out that Quanta Services shares were trading at a discount of 21.8 percent to their 52-week high of USD 788.75, set on May 6, 2026.

For investors, the combination of a 46.1 percent year-to-date gain and a 21.8 percent distance from the 52-week high illustrates both the strength of the rally and the scope for further moves if the company continues to deliver on its raised guidance. The elevated forward P/E of 33.87, however, suggests that the market is already pricing in a substantial portion of the expected growth, making future execution and project discipline crucial.

Earnings expectations and upcoming catalyst

Near-term, the next major fundamental checkpoint will be the third-quarter earnings release for 2026. According to Zacks Investment Research, Quanta Services is expected to report quarterly earnings of USD 4.87 per share for the period ending September 2026, which would represent a year-over-year increase of 46.25 percent compared with the prior-year quarter. Zacks also highlights that Quanta has a history of positive earnings surprises, with the last reported quarter showing EPS of USD 4.24 versus a consensus estimate of USD 3.29, a surprise of 28.88 percent.

The same Zacks earnings overview cites a tentative earnings report date of October 29, 2026 for the quarter ending September 2026, though it flags that this date is an estimate and could be subject to change. As a result, the third-quarter release, expected around October 29, 2026, is likely to be a key catalyst that tests the company's ability to sustain the stepped-up EPS trajectory implied by the 2026 guidance band of USD 16.45-16.95.

Stock price and market metrics

Quanta Services stock is listed on the New York Stock Exchange under the ticker PWR, with the reference price taken from that primary listing in United States dollars. As of September 9, 2026 at 3:02 p.m. Eastern Time, Quanta Services shares were quoted at USD 628.41 on the New York Stock Exchange, down USD 10.64 or 1.67 percent on the day, according to price data shown in the Zacks earnings calendar overview. That level sits materially below the 52-week high of USD 788.75 cited by Zacks Investment Research, consistent with the 21.8 percent discount referenced in that analysis.

The price context, combined with the strong backlog and raised guidance, frames Quanta Services as a high-growth, premium-valued infrastructure stock with meaningful exposure to AI-driven data center projects. For investors, the upcoming earnings release for the quarter ending September 2026 and the execution of its acquisition integration plan will be central in determining whether the shares can close the gap toward the USD 788.75 52-week high without stretching valuation metrics further.