Safety Coordinator

Quanta Services Q2 earnings call highlights. July 31, 2026 Key points. * Quanta Services exceeded expectations in Q2 2026, reporting $9.6 billion in revenue, $4.24 in adjusted EPS and $1.1 billion in adjusted EBITDA, while ending the quarter with a record $53 billion backlog. * The company raised its full-year outlook to $39.3 billion-$39.7 billion in revenue, $16.45-$16.95 in adjusted EPS and $2 billion-$2.5 billion in free cash flow, citing strong first-half performance and improved visibility. * Recent acquisitions are expected to add $1.2 billion-$1.4 billion of 2026 revenue and expand Quanta's self-perform capabilities, while data centers, utility transmission, generation and broader technology infrastructure remain key growth opportunities. * Five stocks we like better than Quanta Services. Quanta Services NYSE: PWR reported second-quarter 2026 results that Chief Executive Officer Duke Austin said "meaningfully exceeded expectations," citing double-digit growth in revenue, adjusted EBITDA and adjusted earnings per share, robust cash flow and record backlog. The company reported quarterly revenue of $9.6 billion, net income attributable to common stock of $451 million, or $2.96 per diluted share, adjusted diluted EPS of $4.24, and adjusted EBITDA of $1.1 billion. Chief Financial Officer Jayshree Desai said the quarter included about $11 million of adjusted EBITDA from acquisitions completed during the period. Quanta ended the quarter with record backlog of $53 billion. Austin said the reported performance primarily reflected broad-based organic strength across the company's segments, service lines and end markets, as the contributions from recently closed acquisitions were minimal during the quarter. Full-Year outlook raised. Following stronger-than-expected first-half performance, improved visibility for the second half and anticipated contributions from recent acquisitions, Quanta raised its full-year 2026 expectations. * Revenue: $39.3 billion to $39.7 billion * Adjusted EBITDA: $4.1 billion to $4.2 billion * Adjusted EPS: $16.45 to $16.95 * Free cash flow: $2 billion to $2.5 billion Desai said Quanta expects the four acquisitions completed after its first-quarter earnings release to contribute $1.2 billion to $1.4 billion of revenue and $120 million to $140 million of adjusted EBITDA during 2026. The company paid approximately $1.24 billion of upfront consideration, net of cash acquired, plus up to $242 million of contingent consideration based on future financial performance. The acquired companies were Phalcon, Enerfab, Percheron and PSD. Austin said the additions expand Quanta's self-perform capabilities across electrical, mechanical, civil and fabrication work, while extending its involvement in the early stages of customer programs, including planning, constructability, routing and permitting-related services. Focus on self-perform work and margin opportunities. Austin said Quanta self-performs approximately 80% to 85% of its work, which he described as central to its ability to deliver projects on time and on budget. He said the company has added about 15,500 employees during the year, including more than 7,000 through organic growth, while continuing to invest in training and craft labor. Discover more EV Market Report Company Earnings On margins, Austin said Quanta sees room for further improvement, particularly in its electric segment and its underground and infrastructure business. He said the company's electric utility operations have the ability to operate at margins of 10% to 12%, with the higher end dependent on favorable project mix, including large transmission work and high workforce utilization. Management also pointed to the company's fabrication and modular capabilities as a source of efficiency. Quanta has about 7 million square feet of fabrication capacity and added roughly 500,000 square feet through its latest acquisitions, according to Austin. He said integrated fabrication can support earlier-stage design collaboration, reduce project costs and improve delivery certainty, though logistics and proximity to construction sites remain important considerations. Technology, generation and utility demand. Austin said Quanta continues to expand its technology and large-load business, including direct work with hyperscalers and other large customers. He said the company's capabilities can support much of a data center's balance-of-plant construction and that its workforce can move between transmission and distribution work and technology projects. Management said technology-related activities accounted for roughly 15% to 20% of the business, encompassing a range of markets beyond data centers. Austin said Quanta is seeing opportunities in manufacturing, battery plants, medical facilities and other infrastructure projects. Desai said the company takes a conservative approach to data-center backlog. Quanta includes work supported by limited notices to proceed but does not include the remainder of a project until it is considered ready to proceed, she said. On utility transmission and distribution, Austin said the business is tracking in line with expectations and that larger transmission, generation and utility programs remain in early stages. He expects some projects to enter backlog later in 2026 and more meaningful field activity to begin during the second half of 2027, with work extending through the decade. Quanta also sees a growing opportunity in generation, including both behind-the-meter and front-of-the-meter projects. However, Austin said the company remains selective about the risks it accepts on combined-cycle and certain single-cycle generation projects. He said Quanta would pursue such work when contract structures provide acceptable risk allocation. Cash flow, balance sheet and capital deployment. Desai said free cash flow benefited from favorable contract terms and the growth of Quanta's mechanical, electrical and plumbing, engineering, procurement and construction, and renewable-energy businesses. She said management continues to view free-cash-flow conversion of around 55% as the appropriate framework, while seeing opportunities to operate at the high end of a 55% to 60% range. The company's debt-to-EBITDA ratio under its senior credit agreement improved to 1.7 at the end of the second quarter, from 1.95 at the end of 2025. Quanta had approximately $2.8 billion in total liquidity. Desai noted that Moody's upgraded the company's ratings during the period. Austin said Quanta will remain selective in acquisitions, emphasizing cultural fit, management quality and strategic value. He said the company is focused on investments that address critical paths in infrastructure delivery, including its prior investments involving high-voltage breakers, transformers and utility poles, while maintaining craft-skilled labor as the core of its operating model. About Quanta Services (NYSE:PWR). 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. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider Quanta Services, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Quanta Services wasn't on the list. While Quanta Services currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys. Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.

Houston-based Quanta Services has acquired Phalcon Ltd., parent company of McPhee Electric and other Connecticut contractors, according to the company's second-quarter earnings report. Financial terms were not disclosed for the Phalcon deal specifically. The acquisition is part of a broader expansion, with Quanta purchasing four companies since April for a combined $1.24 billion in cash and stock. Phalcon operates under several brands including McPhee Electric, Ravex Systems, Harlan Electric, PowerHawke, and J.E. Richards, working on projects across hospitals, college campuses, and power systems. Ravex Systems has completed over 1 gigawatt of fuel cell installations, establishing itself in Connecticut's hydrogen sector. The acquisition strengthens Quanta's electrical services in the Northeast and Mid-Atlantic regions. Quanta reported revenue growth from $6.77 billion to $9.56 billion year-over-year, raising its full-year forecast to $39.7 billion.

Quanta Services named 2026 top U.S. Solar solutions provider by Solar Power World. Jul 21, 2026, 08:19 ET Quanta Operating Companies Collaborate to Achieve Solar Industry Top Spot HOUSTON, July 21, 2026 /PRNewswire/ - Quanta Services, Inc. (NYSE: PWR) announced today that it has been named the top solar solutions provider in the United States by Solar Power World for the third time in four years. Quanta operating companies, utilizing their combined expertise and collaborative efforts, installed more than 6,100 megawatts of domestic solar generating capacity in 2025. Duke Austin, Quanta Services' President and Chief Executive Officer said, "This award is a testament to the dedication and craft-labor expertise of our hardworking team members at projects across the country. As America's energy needs accelerate, our customers need a partner that can deliver certainty - certainty of execution, labor and supply chain. Through our differentiated, solutions-based model, Quanta is providing that certainty at scale. From utility-scale solar and storage to the transmission systems that connect it all, we are building, modernizing and maintaining the backbone of a stronger energy future." The Top Solar Contractors List is the most recognized annual listing of solar contractors in the United States working in the utility, commercial, residential and community solar markets. Companies on the Top Solar Contractors List are classified by specific service (developer, electrical subcontractor, EPC, installation subcontractor, installer, sales partner), market (commercial, community solar, residential, utility) and operating states and ranked by 2025 installed capacity (in kWDC). About Quanta Services Quanta Services is an industry leader in providing specialized infrastructure solutions to the utility, power generation, load center, communications, pipeline, and energy industries. Quanta's comprehensive services include designing, installing, repairing and maintaining energy, load center and communications infrastructure. With operations throughout the United States, Canada, Australia and select other international markets, Quanta has the manpower, resources and expertise to safely complete projects that are local, regional, national or international in scope. For more information, visit www.quantaservices.com. Cautionary Statement About Forward-Looking Statements and Information This press release (and oral statements regarding the subject matter of this press release) contains forward-looking statements intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, the development of and opportunities with respect to future projects, including projects involving renewable energy and other power generation and energy storage projects, as well as statements reflecting expectations, intentions, assumptions or beliefs about future events, and other statements that do not relate strictly to historical or current facts. These forward-looking statements are not guarantees of future performance; rather they involve or rely on a number of risks, uncertainties, and assumptions that are difficult to predict or are beyond our control and reflect management's beliefs and assumptions based on information available at the time the statements are made. We caution you that actual outcomes and results may differ materially from what is expressed, implied or forecasted by our forward-looking statements and that any or all of our forward-looking statements may turn out to be inaccurate or incorrect. Forward-looking statements can be affected by inaccurate assumptions and by known or unknown risks and uncertainties including, among others, risks and uncertainties detailed in Quanta's Annual Report on Form 10-K for the year ended December 31, 2025, Quanta's Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 and any other documents that Quanta files with the SEC. For a discussion of these risks, uncertainties and assumptions, investors are urged to refer to Quanta's documents filed with the SEC that are available through Quanta's website at www.quantaservices.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at www.sec.gov. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. Quanta does not undertake and expressly disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Quanta further expressly disclaims any written or oral statements made by any third party regarding the subject matter of this press release. Investors - Kip Rupp, CFA, IRC Sean Eastman Quanta Services, Inc. (713) 629-7600 Quanta Media - Mili Gosar FGS Global (832) 640-7570 SOURCE Quanta Services, Inc.