Quanta Services Inc

PWR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Quanta Earnings: Strong Backlog Growth Causes 13% FVE Increase, but Valuation Stretched

Joshua Aguilar

Apr 30, 2026

Quanta's strong first quarter moved ahead of expectations. Revenue grew over 26% year on year to $7.9 billion, with organic revenue rising nearly 14%. Adjusted EBITDA margin rose roughly 60 basis points, while total backlog of $48.5 billion grew 37% year on year. In turn, the stock rose 15%.

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Quanta Services Inc

Quanta Earnings: Strong Backlog Growth Causes 13% FVE Increase, but Valuation Stretched

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