Quanta Services stock raises 2026 outlook after 57% revenue jump
Published on 11/04/2026 at 15:26 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSRecord Quarter Lifts Full-Year Targets
- Quanta Services reported record revenue, adjusted earnings and backlog for the third quarter.
- Management raised its 2026 revenue, adjusted earnings and free cash flow outlooks.
- Utility, power generation, industrial and technology demand is broadening across the business.
Quanta Services reported record third-quarter results on October 29, 2026, and raised its full-year outlook across all major measures. The company said demand is broadening across utility, power generation, industrial and technology customers, while its backlog reached a new high.
In the three months ended September 30, revenue rose to USD 12.01 billion from USD 7.63 billion a year earlier. Net income attributable to common stock increased to USD 694.9 million from USD 339.4 million, lifting diluted GAAP earnings per share to USD 4.55 from USD 2.24. Adjusted diluted earnings per share reached USD 6.06, compared with USD 3.33 in the prior-year quarter.
Backlog Supports Infrastructure Demand
Quanta said total backlog stood at USD 63.7 billion at the end of September, including USD 41.8 billion in remaining performance obligations. The Electric segment generated USD 9.80 billion in quarterly revenue, up from USD 6.17 billion, while Underground and Infrastructure revenue rose to USD 2.22 billion from USD 1.46 billion.
Adjusted EBITDA increased to USD 1.45 billion from USD 858.3 million. The adjusted EBITDA margin expanded as operating income rose to USD 1.03 billion from USD 517.2 million. Operating cash flow reached USD 1.45 billion, and free cash flow was USD 1.20 billion. Quanta states that adjusted measures exclude items such as acquisition and integration costs, amortization, stock-based compensation and changes in contingent consideration.
Chief Executive Officer Duke Austin said the results exceeded expectations and that the company expects incremental strength in the fourth quarter. He also pointed to the breadth of Quanta's portfolio and the ability to shift its skilled workforce toward stronger demand. Management sees an opportunity for strong double-digit adjusted EPS growth in 2027, supported by continued backlog growth.
Higher 2026 Guidance
Quanta now expects full-year 2026 revenue between USD 41.3 billion and USD 41.6 billion. The company also forecasts net income attributable to common stock of USD 1.92 billion to USD 1.98 billion, diluted EPS of USD 12.57 to USD 12.97 and adjusted diluted EPS of USD 17.90 to USD 18.30.
Adjusted EBITDA guidance stands at USD 4.40 billion to USD 4.49 billion. Quanta expects operating cash flow of USD 3.45 billion to USD 4.00 billion and free cash flow of USD 2.50 billion to USD 3.00 billion. The outlook remains subject to project timing, weather, permitting, supply-chain conditions and broader economic factors.
Quanta Services stock traded at 545.10 euros on Lang & Schwarz at 15:12 CET on Wednesday, November 4, 2026. The company released the results through its investor relations announcement.
Investors will focus next on fourth-quarter execution, backlog conversion and the company's ability to sustain margin and cash-flow expansion as infrastructure demand develops.
The broader S&P 500 market remains the relevant benchmark for this US-listed infrastructure contractor.
For the real-time quote of Quanta Services stock, investors can follow the latest trading indication. More news and analyses on Quanta Services stock are available in the company theme.
Quanta Services at a Glance
- Company: Quanta Services
- ISIN: US74762E1029
- Ticker: PWR
- Listing: New York Stock Exchange
- Quote: EUR 545.10 on Lang & Schwarz, November 4, 2026, 15:12 CET
- Third-quarter revenue: USD 12.01 billion
- Total backlog: USD 63.7 billion
