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