Quanta Services stock gets a higher 2026 outlook

Quanta Services reported record third-quarter results on October 29, 2026, and raised its full-year outlook across major financial measures. The company said revenue for the three months ended September 30 reached 12.01 billion US dollars, compared with 7.63 billion US dollars a year earlier, according to its third-quarter results release.

Record quarter lifts outlook

Net income attributable to common stock rose to 694.9 million US dollars from 339.4 million US dollars in the prior-year quarter. GAAP diluted earnings per share increased to 4.55 US dollars from 2.24 US dollars, while adjusted diluted earnings per share advanced to 6.06 US dollars from 3.33 US dollars.

Adjusted EBITDA reached 1.45 billion US dollars, up from 858.3 million US dollars a year earlier. Operating cash flow was 1.45 billion US dollars and free cash flow reached 1.20 billion US dollars. Quanta also reported total backlog of 63.7 billion US dollars, including 41.8 billion US dollars of remaining performance obligations.

Chief Executive Officer Duke Austin said the results exceeded expectations and pointed to strong demand across utility, power generation, industrial and technology customers. He said the breadth of Quanta's portfolio and the flexibility of its skilled workforce support more consistent execution across end markets.

Higher targets meet execution risk

Quanta now expects full-year 2026 revenue of 41.3 billion to 41.6 billion US dollars. The company projects net income attributable to common stock of 1.92 billion to 1.98 billion US dollars, diluted earnings per share of 12.57 to 12.97 US dollars and adjusted diluted earnings per share of 17.90 to 18.30 US dollars.

The updated forecast also calls for adjusted EBITDA of 4.40 billion to 4.49 billion US dollars, operating cash flow of 3.45 billion to 4.00 billion US dollars and free cash flow of 2.50 billion to 3.00 billion US dollars. Management linked the increase to the third-quarter performance and expected additional strength in the fourth quarter.

The company cautioned that weather, regulation, permitting, supply-chain constraints and project timing can affect results. Quanta completed two acquisitions in September and October for aggregate consideration of about 245 million US dollars, with the deals intended to strengthen front-end, fabrication and supply-chain capabilities. Their contribution to 2026 results is not expected to be material.

What investors watch next

Quanta's management said it sees an opportunity for strong double-digit adjusted EPS growth in 2027, supported by continued backlog growth. For investors, the raised targets increase the importance of converting the record backlog into revenue while maintaining margins and cash generation.

Quanta Services stock traded at 492.30 euros on Lang & Schwarz at 14:07 CET on Monday, November 9. Investors can follow the real-time quote of Quanta Services stock during the session.

Broader US equities remain the relevant market backdrop for the New York-listed company; current market reports are available through the S&P 500 market overview.

More news and analyses on Quanta Services stock remain available for investors.