Company Reports

Quanta Services is a leading specialty contractor serving customers across the utility, telecom, oil and gas, and renewable energy markets. The company operates through two segments: electric and underground utility and infrastructure.

Quanta delivered strong second-quarter results well above guidance, with sales rising 41% year over year to $9.56 billion. It raised its 2026 revenue guidance by 13% at the midpoint, now implying around 40% growth, and lifted diluted EPS guidance to $11.41-$11.92, a 23% increase at the midpoint.

We are transferring coverage of Quanta Services and MasTec, two engineering and construction firms serving the utility, telecommunications, oil and gas, and renewable energy markets.

Quanta Services is a leading specialty contractor serving customers across the utility, telecom, oil and gas, and renewable energy markets. The company operates through two segments: electric and underground utility and infrastructure.

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%.

Quanta Services is a leading specialty contractor for customers in the utilities, telecom, oil and gas, and renewable industries. Its strategic focus is positioning it to take advantage of secular growth trends that drive increased demand for contracting services, such as electric grid investment and renewable energy deployment. The company has historically used acquisitions to supplement organic growth in achieving its strategy.

Quanta Services is a leading specialty contractor for customers in the utilities, telecom, oil and gas, and renewable industries. Its strategic focus is positioning it to take advantage of secular growth trends that drive increased demand for contracting services, such as electric grid investment and renewable energy deployment. The company has historically used acquisitions to supplement organic growth in achieving its strategy.

Quanta Services delivered fourth-quarter revenue of $7.8 billion (up 20% year on year, 11% organic) and adjusted EBITDA of $845 million. The company guided 2026 revenue to $33.5 billion at the midpoint with adjusted EPS of $13, representing over 20% earnings growth.

Quanta Services is a leading specialty contractor for customers in the utilities, telecom, oil and gas, and renewable industries. Its strategic focus is positioning it to take advantage of secular growth trends that drive increased demand for contracting services, such as electric grid investment and renewable energy deployment. The company has historically used acquisitions to supplement organic growth in achieving its strategy.

Quanta Services reported third quarter revenue of $7.6 billion and EBITDA of $858 million. Full year revenue and EBITDA guidance were left largely unchanged as organic growth strength in the electric segment was offset by weakness in pipeline activities.

Quanta Services is a leading specialty contractor for customers in the utilities, telecom, oil and gas, and renewable industries. Its strategic focus is positioning it to take advantage of secular growth trends that drive increased demand for contracting services, such as electric grid investment and renewable energy deployment. The company has historically used acquisitions to supplement organic growth in achieving its strategy.

Quanta Services delivered second-quarter revenue of $6.8 billion and EBITDA of $669 million compared with PitchBook consensus of $6.6 billion and $662 million, respectively. Full year revenue and EBITDA guidance were raised 3%, largely due to acquisitions.

Quanta Services is a leading specialty contractor for customers in the utilities, telecom, oil and gas, and renewable industries. Its strategic focus is positioning it to take advantage of secular growth trends that drive increased demand for contracting services, such as electric grid investment and renewable energy deployment. The company has historically used acquisitions to supplement organic growth in achieving its strategy.

On May 12 the House Ways and Means Committee released its long-awaited budget reconciliation bill. The bill includes updates to key clean energy incentives established or extended under the Inflation Reduction Act.

Quanta Services delivered first-quarter adjusted earnings per share of $1.78. Full-year guidance for revenue and EPS was increased roughly 1% from prior guidance.

Quanta Services is a leading specialty contractor for customers in the utilities, telecom, oil and gas, and renewable industries. Its strategic focus is positioning it to take advantage of secular growth trends that drive increased demand for contracting services, such as electric grid investment and renewable energy deployment. The company has historically used acquisitions to supplement organic growth in achieving its strategy.

Quanta Services delivered fourth-quarter earnings per share of $2.94 and initiated 2025 guidance. Revenue is expected to grow 13% at the midpoint with an EBITDA margin of 10.2%.

Quanta Services is a leading specialty contractor for customers in the utility, telecom, oil and gas, and renewable industries. Its strategic focus is positioning it to take advantage of secular growth trends that drive increased demand for contracting services, such as electric grid investment and renewable energy deployment. The company has historically used acquisitions to supplement organic growth in achieving its strategy.

We have consolidated our recent DeepSeek-related coverage in this note. Artificial intelligence affects companies across much of our coverage, including semiconductors, cloud infrastructure, software, utilities, and energy.

On Jan. 27, shares of industrial firms with data center exposure materially underperformed, with some falling by as much as 20%. This followed news that China's DeepSeek developed an AI model with comparable capabilities to US-developed models, but at a fraction of the cost.