Quanta Services (NYSE:PWR) Issues Quarterly Earnings Results, Beats Expectations By $0.93 EPS

Posted by Brian Himes on Jul 31st, 2026

Quanta Services (NYSE:PWR – Get Free Report) announced its quarterly earnings results on Thursday. The construction company reported $4.24 EPS for the quarter, beating the consensus estimate of $3.31 by $0.93, FiscalAI reports. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.61 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The firm’s revenue was up 41.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.48 earnings per share. Quanta Services updated its FY 2026 guidance to 16.450-16.950 EPS.

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

Second-quarter results materially exceeded expectations, with $9.6 billion in revenue, $4.24 in adjusted EPS, $1.1 billion in adjusted EBITDA, and strong cash flow. Record backlog reached $53 billion, reflecting broad-based organic growth across segments and end markets.
Quanta significantly raised its 2026 outlook to $39.3 billion–$39.7 billion in revenue, $4.1 billion–$4.2 billion in adjusted EBITDA, $16.45–$16.95 in adjusted EPS, and $2.0 billion–$2.5 billion in free cash flow. Management cited strong first-half execution, improved visibility, and contributions from recent acquisitions.
The company completed four acquisitions—Phalcon, Enerfab, Percheron, and PSD—for approximately $1.24 billion upfront, adding capabilities in fabrication, engineering, generation, technology, and utility infrastructure. Management expects these deals to contribute $1.2 billion–$1.4 billion of 2026 revenue and $120 million–$140 million of adjusted EBITDA.
Management sees additional margin opportunity from improved work mix, self-perform capabilities, training efficiencies, and acquisition synergies, while free-cash-flow conversion could reach the high end of its 55%–60% target range. However, larger transmission and generation projects are expected to produce lumpier bookings and may not meaningfully enter the field until the second half of 2027.
Quanta said technology and data-center work represents roughly 15%–20% of the business and that its backlog includes projects with the necessary early notices to proceed, limiting—but not eliminating—exposure to permitting or state-level data-center pauses. Management also identified generation capacity and utility interconnection queues as potential industry bottlenecks, rather than craft labor oversupply.

Quanta Services Stock Performance

PWR traded up $7.89 during trading on Friday, hitting $665.87. The stock had a trading volume of 710,615 shares, compared to its average volume of 1,175,518. The firm has a market capitalization of $99.92 billion, a P/E ratio of 91.17, a PEG ratio of 2.21 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.09 and a current ratio of 1.14. Quanta Services has a twelve month low of $363.01 and a twelve month high of $788.75. The company’s 50-day moving average price is $681.24 and its 200 day moving average price is $611.83.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Wednesday, July 1st were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Wednesday, July 1st. Quanta Services’s dividend payout ratio (DPR) is 6.04%.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of recent analyst reports. BTIG Research downgraded shares of Quanta Services to a “hold” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lowered Quanta Services to a “sell” rating in a report on Friday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $714.00 target price on shares of Quanta Services in a report on Tuesday, July 21st. Stifel Nicolaus set a $784.00 price target on Quanta Services in a research note on Friday, May 1st. Finally, CICC Research started coverage on Quanta Services in a research note on Thursday, May 21st. They issued an “outperform” rating and a $872.00 price objective for the company. Nineteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average price target of $746.78.

Get Our Latest Stock Report on PWR

Quanta Services declared that its board has authorized a share repurchase plan on Friday, May 22nd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

More Quanta Services News

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

Positive Sentiment: Record Q2 performance: Quanta reported revenue of $9.56 billion, up 41.1% year over year, while adjusted diluted EPS of $4.24 exceeded consensus estimates of approximately $3.31. Adjusted EBITDA reached $1.1 billion, operating cash flow was $1.1 billion and free cash flow was $0.9 billion. Quanta Services Reports Second Quarter 2026 Results
Positive Sentiment: Backlog provides visibility: Total backlog rose to a record $53.4 billion, including $33.6 billion of remaining performance obligations. Management cited broad infrastructure demand, electric-sector strength and continued project activity as key growth drivers. Q2 Earnings Call Highlights Growth and Backlog Strength
Positive Sentiment: 2026 guidance raised significantly: Quanta now expects full-year revenue of $39.3 billion-$39.7 billion and EPS of $16.45-$16.95, well above prior market expectations of roughly $35.0 billion in revenue and $13.78 EPS. Quanta Projects 2026 Revenue as Record Backlog Supports Raised Outlook
Positive Sentiment: Analyst upgrade: Guggenheim raised Quanta from “neutral” to “buy” and set an $800 price target, citing the company’s growth outlook and infrastructure opportunity. The Fly Analyst Upgrade Report
Neutral Sentiment: Valuation remains a consideration: Despite the favorable earnings momentum, PWR trades at a high earnings multiple, leaving the stock sensitive to any slowdown in backlog conversion, margins or infrastructure spending.

Insider Transactions at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total transaction of $100,184,500.00. Following the completion of the transaction, the chief executive officer directly owned 556,911 shares of the company’s stock, valued at $429,183,462.15. This represents a 18.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Paul Nobel sold 4,000 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $756.98, for a total value of $3,027,920.00. Following the transaction, the chief accounting officer directly owned 8,080 shares of the company’s stock, valued at approximately $6,116,398.40. This trade represents a 33.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 159,992 shares of company stock worth $123,244,714. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Quanta Services

Large investors have recently made changes to their positions in the stock. Select Equity Group L.P. increased its holdings in Quanta Services by 69.3% in the second quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company’s stock valued at $384,554,000 after buying an additional 416,395 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Quanta Services by 226.2% in the fourth quarter. Wellington Management Group LLP now owns 338,771 shares of the construction company’s stock valued at $142,982,000 after buying an additional 234,928 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Quanta Services by 18.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,207,209 shares of the construction company’s stock worth $509,515,000 after buying an additional 191,135 shares during the last quarter. State Street Corp grew its stake in Quanta Services by 2.1% in the 4th quarter. State Street Corp now owns 6,206,761 shares of the construction company’s stock valued at $2,619,626,000 after acquiring an additional 126,014 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Quanta Services by 4.9% during the second quarter. Bank of America Corp DE now owns 2,150,718 shares of the construction company’s stock worth $813,144,000 after acquiring an additional 99,782 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

About Quanta Services

(Get Free Report)

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.