Quanta Services Posts Record Q2 2026 and Lifts Full-Year Outlook Sharply
PWR sits 75% above its 52-week low of $363.01.
Summary
Record Q2 2026 results featured revenues of $9.56 billion and adjusted EPS of $4.24, significantly beating expectations, while full-year 2026 guidance was raised across all metrics. The company also announced four strategic acquisitions and a new manufacturing joint venture.
Key Events · Earnings and Guidance · PWR
-
Record Q2 2026 Results
Revenues reached $9.56 billion, up 41% year-over-year, with GAAP diluted EPS of $2.96 and adjusted diluted EPS of $4.24—nearly double the $2.48 posted in Q2 2025. Net income came in at $451.4 million, and adjusted EBITDA hit $1.1 billion.
-
Full-Year 2026 Guidance Raised
Revenue guidance was lifted to $39.3–$39.7 billion, GAAP diluted EPS to $11.41–$11.92, adjusted diluted EPS to $16.45–$16.95, adjusted EBITDA to $4.09–$4.21 billion, and free cash flow to $2.0–$2.5 billion.
-
Four Strategic Acquisitions Closed
Phalcon, Enerfab, Percheron, and PSD were acquired in Q2 and July 2026, adding electrical, mechanical, fabrication, and front-end services capabilities. They are expected to contribute $1.2–$1.4 billion in revenue and $120–$140 million in adjusted EBITDA in 2026, with aggregate upfront consideration of approximately $1.24 billion.
-
High-Voltage Circuit Breaker Joint Venture
Hyosung HICO Breaker, LLC was formed with Hyosung HICO to manufacture high-voltage circuit breakers up to 800 kV in the U.S., expanding domestic manufacturing capabilities.
Analysis · PWR · Real Estate & Construction
A blowout quarter saw revenues jump 41% year-over-year to $9.56 billion, while adjusted EPS nearly doubled to $4.24. Reflecting that strength, full-year 2026 guidance was raised across the board—adjusted EPS is now seen at $16.45–$16.95, well above prior expectations. Four strategic acquisitions closed in Q2 and July bolster self-perform capabilities in electrical, mechanical, and fabrication services, adding an expected $1.2–$1.4 billion in annual revenue. A new joint venture expands domestic high-voltage circuit breaker manufacturing, and a Moody's upgrade to Baa2 underscores improving financial strength. The results and outlook raise the bar for the stock, though the magnitude of the beat and the raised guidance are likely to sustain positive momentum.
At the time of this filing, PWR was trading at $636.00 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $84.2B. The 52-week trading range was $363.01 to $788.75. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.