Quanta raises annual forecasts after revenue and earnings accelerate

Quanta Services ($PWR) increased its 2026 revenue forecast to $41.3–41.6 billion and its adjusted EPS outlook to $17.90–18.30. Third-quarter 2026 revenue reached $12.01 billion, compared with $7.63 billion a year earlier. Net income attributable to common shareholders more than doubled to $694.9 million, or $4.55 per diluted share, while adjusted EPS rose to $6.06 from $3.33. Quarterly free cash flow was approximately $1.20 billion.

Total backlog reached $63.7 billion, providing visibility into infrastructure work, but its composition requires care. Approximately $22.0 billion consists of estimates under master-service agreements and other arrangements rather than fixed remaining performance obligations, which totaled $41.8 billion. Acquisitions also affect growth comparisons. Management’s stronger outlook remains subject to project timing, permitting, supply-chain conditions and execution across its electricity and utility infrastructure businesses.

Sources:

• investors.quantaservices.com
• Issuer release or filing via StockTitan