Quanta Services stock enters final quarter with higher outlook

Quanta Services raised its full-year 2026 expectations after reporting record third-quarter results on October 29. The infrastructure contractor cited stronger expected fourth-quarter activity and broad demand across utility power, transmission, generation, renewable energy and large-load technology projects.

The latest Lang & Schwarz quote was 557.50 euros at 16:59 CET on Wednesday, November 11, 2026. That compares with 518.60 euros at 14:02 CET on Tuesday, November 10, in the latest report. The difference is 7.50% since that report and is separate from the Xetra session comparison.

Record quarter lifts full-year targets

In its third-quarter results release, Quanta Services reported revenue of 12.01 billion US dollars, compared with 7.63 billion US dollars a year earlier. Net income attributable to common stock rose to 694.9 million US dollars from 339.4 million US dollars, while GAAP diluted earnings per share reached 4.55 US dollars against 2.24 US dollars.

Adjusted diluted earnings per share increased to 6.06 US dollars from 3.33 US dollars. Adjusted EBITDA reached 1.45 billion US dollars, compared with 858.3 million US dollars a year earlier. Operating cash flow of 1.5 billion US dollars and free cash flow of 1.2 billion US dollars were quarterly records.

Backlog raises the execution bar

Quanta now expects 2026 revenue of 41.3 billion to 41.6 billion US dollars. Adjusted diluted earnings per share are forecast at 17.90 to 18.30 US dollars, adjusted EBITDA at 4.40 billion to 4.49 billion US dollars and free cash flow at 2.50 billion to 3.00 billion US dollars.

Total backlog reached 63.7 billion US dollars at the end of the quarter, while remaining performance obligations stood at 41.8 billion US dollars. The backlog supports future revenue visibility, but project timing, labor availability, cost control and cash conversion remain central to the investment case.

US infrastructure stocks remain sensitive to utility, grid modernization, power generation and technology investment expectations; see current S&P 500 market reports.

For more company updates, see more news and analyses on Quanta Services stock.