Quanta Services Q2 Earnings Call Highlights

Quanta Services Q2 Earnings Call Highlights

Quanta Services exceeded expectations in Q2 2026 , reporting $9.6 billion in revenue, $4.24 in adjusted EPS and $1.1 billion in adjusted EBITDA, while ending the quarter with a record $53 billion backlog.

The company raised its full-year outlook to $39.3 billion-$39.7 billion in revenue, $16.45-$16.95 in adjusted EPS and $2 billion-$2.5 billion in free cash flow, citing strong first-half performance and improved visibility.

Recent acquisitions are expected to add $1.2 billion-$1.4 billion of 2026 revenue and expand Quanta’s self-perform capabilities, while data centers, utility transmission, generation and broader technology infrastructure remain key growth opportunities.

Quanta Services NYSE: PWR reported second-quarter 2026 results that Chief Executive Officer Duke Austin said “meaningfully exceeded expectations,” citing double-digit growth in revenue, adjusted EBITDA and adjusted earnings per share, robust cash flow and record backlog.

The company reported quarterly revenue of $9.6 billion, net income attributable to common stock of $451 million, or $2.96 per diluted share, adjusted diluted EPS of $4.24, and adjusted EBITDA of $1.1 billion.

Chief Financial Officer Jayshree Desai said the quarter included about $11 million of adjusted EBITDA from acquisitions completed during the period.

Quanta ended the quarter with record backlog of $53 billion. Austin said the reported performance primarily reflected broad-based organic strength across the company’s segments, service lines and end markets, as the contributions from recently closed acquisitions were minimal during the quarter.

Following stronger-than-expected first-half performance, improved visibility for the second half and anticipated contributions from recent acquisitions, Quanta raised its full-year 2026 expectations.

Revenue: $39.3 billion to $39.7 billion

Adjusted EBITDA: $4.1 billion to $4.2 billion

Adjusted EPS: $16.45 to $16.95

Free cash flow: $2 billion to $2.5 billion

Desai said Quanta expects the four acquisitions completed after its first-quarter earnings release to contribute $1.2 billion to $1.4 billion of revenue and $120 million to $140 million of adjusted EBITDA during 2026.

The company paid approximately $1.24 billion of upfront consideration, net of cash acquired, plus up to $242 million of contingent consideration based on future financial performance. The acquired companies were Phalcon, Enerfab, Percheron and PSD.

Austin said the additions expand Quanta’s self-perform capabilities across electrical, mechanical, civil and fabrication work, while extending its involvement in the early stages of customer programs, including planning, constructability, routing and permitting-related services.

Austin said Quanta self-performs approximately 80% to 85% of its work, which he described as central to its ability to deliver projects on time and on budget. He said the company has added about 15,500 employees during the year, including more than 7,000 through organic growth, while continuing to invest in training and craft labor.

On margins, Austin said Quanta sees room for further improvement, particularly in its electric segment and its underground and infrastructure business. He said the company’s electric utility operations have the ability to operate at margins of 10% to 12%, with the higher end dependent on favorable project mix, including large transmission work and high workforce utilization. Management also pointed to the company’s fabrication and m...