Quanta Services stock retreats as record quarter raises execution bar
Published on 11/12/2026 at 16:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSOutlook and backlog shape the setup
- Quanta Services raised its full-year 2026 revenue, adjusted earnings and free-cash-flow outlook after a record third quarter.
- Broad demand across power, transmission, renewable energy and technology projects supports the growth outlook.
- Backlog conversion, labor availability, project timing and cash generation remain central investor risks.
Quanta Services stock traded at 542.00 euros on Lang & Schwarz at 16:38 CET on Thursday, November 12, 2026. That was 2.78 percent below the 557.50-euro quote cited in the latest AD HOC NEWS report on November 11.
The company remains in focus after reporting record third-quarter results on October 29 and raising its full-year 2026 expectations. The infrastructure contractor cited stronger expected fourth-quarter activity and broad demand across utility power, transmission, generation, renewable energy and large-load technology projects.
Record quarter lifts targets
According to AD HOC NEWS, revenue for the three months ended September 30 reached 12.01 billion US dollars, compared with 7.63 billion US dollars a year earlier. Net income attributable to common stock rose to 694.9 million US dollars from 339.4 million US dollars, while GAAP diluted earnings per share increased to 4.55 US dollars from 2.24 US dollars.
Adjusted diluted earnings per share reached 6.06 US dollars, up from 3.33 US dollars. Adjusted EBITDA rose to 1.45 billion US dollars from 858.3 million US dollars. Quarterly operating cash flow of 1.5 billion US dollars and free cash flow of 1.2 billion US dollars were records.
Backlog raises execution demands
Quanta now expects 2026 revenue of 41.3 billion to 41.6 billion US dollars. Adjusted diluted earnings per share are forecast at 17.90 to 18.30 US dollars, adjusted EBITDA at 4.40 billion to 4.49 billion US dollars and free cash flow at 2.50 billion to 3.00 billion US dollars.
Total backlog reached 63.7 billion US dollars at the end of the quarter, including 41.8 billion US dollars of remaining performance obligations. That provides revenue visibility, but project timing, labor availability, cost control and cash conversion will determine how much of the backlog becomes profitable growth.
Quanta Services at a glance
- Company: Quanta Services, Inc.
- ISIN: US74762E1029
- Home listing: NYSE
- Ticker: PWR
- Lang & Schwarz quote: 542.00 euros at 16:38 CET on Thursday, November 12, 2026
- 2026 revenue outlook: 41.3 billion to 41.6 billion US dollars
- Total backlog: 63.7 billion US dollars at September 30, 2026
US infrastructure stocks remain sensitive to utility investment, grid modernization, power generation and technology demand. See current S&P 500 market reports.
For more company updates, see more news and analyses on Quanta Services stock.
