Quanta Services, Inc. filed its third-quarter 2026 earnings release on October 29, 2026, reporting record quarterly revenues of $12.01 billion for the three months ended September 30, 2026, along with record backlog of $63.7 billion and raised full-year 2026 guidance across all financial metrics.

Key Highlights

  • Record quarterly revenue: Revenues of $12.01 billion in Q3 2026, up from $7.63 billion in Q3 2025.
  • GAAP diluted EPS of $4.55: Net income attributable to common stock was $694.9 million, or $4.55 per diluted share, compared to $2.24 per diluted share in Q3 2025.
  • Adjusted diluted EPS of $6.06: Up from $3.33 in Q3 2025, according to the filing.
  • Record total backlog of $63.7 billion: Remaining Performance Obligations (RPO) reached $41.8 billion.
  • Adjusted EBITDA of $1.4 billion: Free cash flow of $1.2 billion and cash flow from operations of $1.5 billion, both described as record third-quarter results.
  • Two acquisitions completed: Aggregate consideration, net of cash acquired, was approximately $245 million, consisting of approximately $96 million in cash and approximately $149 million in Quanta common stock.
  • Full-year 2026 revenue guidance raised: Quanta now expects revenues between $41.3 billion and $41.6 billion and adjusted diluted EPS between $17.90 and $18.30.

Quanta Services Reports Record Q3 2026 Results and Raises Full-Year Outlook

According to the filing, Quanta Services (NYSE:PWR) reported broad records across revenue, earnings, backlog, and cash flow for the three months ended September 30, 2026. Revenues of $12.01 billion compared to $7.63 billion in the prior-year period, and net income attributable to common stock reached $694.9 million, or $4.55 per diluted share, versus $339.4 million, or $2.24 per diluted share, in Q3 2025. Adjusted diluted earnings per share attributable to common stock was $6.06, up from $3.33 in Q3 2025. For the nine months ended September 30, 2026, the company reported revenues of $29.45 billion and net income attributable to common stock of $1.37 billion, or $8.97 per diluted share.

The filing also disclosed two acquisitions completed in September and October 2026: a Houston, Texas-based energy services provider with approximately 320 employees, included in the Underground and Infrastructure segment, and a Fort Worth, Texas-based manufacturer of steel monopoles and lighting structures with approximately 270 employees, to be included primarily in the Electric segment. Combined consideration, net of cash acquired, was approximately $245 million. The filing noted these two acquisitions are not expected to contribute materially to full-year 2026 financial results. Additionally, Quanta disclosed that in August 2026 it issued $2.00 billion aggregate principal amount of senior notes, and on September 1, 2026, prepaid the full $618.8 million outstanding balance of its term loan.

The filing raised full-year 2026 guidance across all metrics. Quanta now expects revenues between $41.3 billion and $41.6 billion, net income attributable to common stock between $1.92 billion and $1.98 billion, diluted EPS between $12.57 and $12.97, adjusted diluted EPS between $17.90 and $18.30, adjusted EBITDA between $4.40 billion and $4.49 billion, and free cash flow between $2.50 billion and $3.00 billion. The filing includes forward-looking statements that, as noted in the company's own cautionary language, are subject to factors including weather, regulatory, permitting, supply chain challenges, inflation, interest rates, and potential recessionary conditions.

What Was Disclosed

Quanta Services disclosed record Q3 2026 financial results for the period ended September 30, 2026, two completed acquisitions for approximately $245 million combined, senior notes issuance of $2.00 billion, full prepayment of a $618.8 million term loan, and materially raised full-year 2026 financial guidance across revenue, earnings, EBITDA, and cash flow.