Quanta Services Posts Record Q2 2026 Results and Lifts Full-Year EPS Guidance Above Consensus
PWR sits 79% above its 52-week low of $363.01 on light trading volume (0.4× avg).
Summary
Quanta Services posted record Q2 2026 results with revenues of $9.56 billion and adjusted EPS of $4.24, significantly beating expectations, and raised full-year EPS guidance above consensus. Backlog reached $53.4 billion, and the company authorized a new $1 billion buyback.
Key Events · Earnings and Guidance · PWR
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Record Q2 Revenue and Earnings Beat
Driven by strong demand across both Electric and Underground segments, revenues of $9.56 billion (up 41% YoY) and adjusted EPS of $4.24 significantly exceeded consensus estimates.
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Full-Year EPS Guidance Raised Above Consensus
Reflecting confidence in continued growth momentum, management issued full-year 2026 EPS guidance of $11.41 to $11.92, a range that exceeds current analyst expectations.
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Backlog Surges to $53.4 Billion
Total backlog increased 21.5% from year-end 2025 to $53.44 billion, with remaining performance obligations up 41.2% to $33.55 billion, indicating robust multi-year revenue visibility.
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Operating Cash Flow Nearly Triples
Net cash provided by operating activities reached $1.49 billion for the first half of 2026, a 176% increase from the prior year, strengthening the balance sheet and funding capacity.
Analysis · PWR · Real Estate & Construction
A blowout quarter saw revenues surge 41% to $9.56 billion and adjusted EPS hit $4.24, crushing expectations. Confidence in sustained demand is evident as full-year EPS guidance was raised to $11.41–$11.92, well above analyst estimates. The backlog swelled to $53.4 billion, up 21.5% from year-end, fueled by grid modernization, data center buildouts, and renewable energy projects. Operating cash flow nearly tripled to $1.49 billion, providing ample firepower for the newly authorized $1 billion buyback and a dividend hike. This report underscores Quanta's position as a prime beneficiary of the electrification mega-trend, with no signs of slowing.
At the time of this filing, PWR was trading at $650.42 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $97.6B. 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.