Quanta Services, Inc.: Beat — EPS $6.06, Revenue $12.01B
Earnings BeatQ3 2026 · Pre-market
Did Quanta Services, Inc. (PWR) beat earnings today?
Yes, Quanta Services, Inc. (PWR) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+20.48% surprise
$6.06Actual
Expected: $5.03
vs. year ago +82.0%
Total Revenue+9.43% surprise
$12.01BActual
Expected: $10.98B
vs. year ago +57.4%
Released Oct 29 · 6:55 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $12.01B | $7.63B | +57.4% |
| Revenue detail — reported lines | |||
| └─Electric | $9.80B | $6.17B | +58.8% |
| └─Underground and Infrastructure | $2.22B | $1.46B | +51.8% |
| GAAP Basic EPS | $4.62 | $2.28 | +102.6% |
| GAAP Diluted EPS | $4.55 | $2.24 | +103.1% |
| Adjusted Diluted EPS | $6.06 | $3.33 | +82.0% |
| Net Income | $694.86M | $339.42M | +104.7% |
Financial Outlook / Guidance
| Metric | Next Quarter Outlook | FY 2026 Outlook |
|---|---|---|
| Revenues | — | $41.3B-$41.6B |
| Net Income Attributable to Common Stock | — | $1.92B-$1.98B |
| Diluted EPS | — | $12.57-$12.97 |
| Adjusted Diluted EPS | — | $17.90-$18.30 |
| EBITDA | — | $3.99B-$4.09B |
| Adjusted EBITDA | — | $4.40B-$4.49B |
| Net Cash Provided by Operating Activities | — | $3.45B-$4.00B |
| Free Cash Flow | — | $2.50B-$3.00B |
Business Highlights
- ➤Completed two acquisitions strengthening front-end, fabrication and supply-chain capabilities.
- ➤Acquired Houston energy-services provider with approximately 320 employees for Underground and Infrastructure.
- ➤Acquired Fort Worth steel-monopole and lighting-structures manufacturer with approximately 270 employees.
- ➤Issued $2.00 billion aggregate principal amount of senior notes.
- ➤Expanded revolving commitments to $2.98 billion and extended revolving-loan maturity to July 2031.
- ➤Prepaid the $618.8 million outstanding term-loan balance.
- ➤Published 2025 sustainability report, Craft + Culture.
- ➤Appointed Ellen Rubin to the Board of Directors.
Management Commentary
Duke Austin, President and Chief Executive Officer of Quanta Services
“Quanta delivered another exceptional quarter, with third-quarter results that again exceeded expectations. Revenue, adjusted EBITDA and adjusted diluted earnings per share all achieved strong double-digit growth, cash flow was robust and total backlog reached a record $63.7 billion. These results demonstrate the power of our solutions-based operating model, as well as the execution certainty our self-perform capabilities deliver for customers every day. Given this outperformance and the expected incremental strength in the fourth quarter, we are again significantly increasing our full-year 2026 financial expectations across all metrics.”
Duke Austin, President and Chief Executive Officer of Quanta Services
“The breadth of our portfolio, combined with the fungibility of our skilled workforce across multiple end markets, provides a significant competitive advantage. This flexibility allows us to strategically deploy resources where demand is strongest, mitigate exposure to individual market cycles and deliver more consistent, predictable outcomes for our customers and stockholders. With demand for our services broadening across utility, power generation, industrial and technology customers, we are pacing ahead of the multi-year growth targets we outlined at our 2026 Investor Day, and our conviction in Quanta's ability to compound profitable growth over the long term continues to strengthen. We believe there is opportunity to deliver strong double-digit adjusted EPS growth in 2027, supported by continued backlog growth.”