Quanta Services stock: Q3 revenue jumps 57% as outlook rises

Quanta Services reported a record third quarter on October 29, 2026, and raised its full-year outlook across key measures. In its third-quarter results release, the infrastructure contractor said revenue for the three months ended September 30 rose to 12.01 billion US dollars from 7.63 billion US dollars a year earlier.

Quanta Services stock traded at 560.10 euros on Lang & Schwarz at 14:30 CET on Tuesday, November 3, 2026. The real-time quote of Quanta Services stock provides the latest trading view for investors.

Record quarter lifts expectations

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

Quanta also reported adjusted EBITDA of 1.45 billion US dollars, up from 858.3 million US dollars in the third quarter of 2025. The adjusted EBITDA margin expanded to 12.1 percent. Cash generation strengthened as operating cash flow reached 1.45 billion US dollars and free cash flow came to 1.20 billion US dollars.

Backlog broadens growth visibility

Total backlog stood at 63.7 billion US dollars on September 30, compared with 44.0 billion US dollars at the end of 2025 and 39.2 billion US dollars a year earlier. Remaining performance obligations accounted for 41.8 billion US dollars of the total. The figures include estimated orders under master service agreements and other short-term, non-fixed-price contracts, so backlog is a non-GAAP measure and depends on project timing and execution.

The Electric segment remained the main growth engine, generating 9.80 billion US dollars of quarterly revenue compared with 6.17 billion US dollars in the prior-year period. Revenue from Underground and Infrastructure increased to 2.22 billion US dollars from 1.46 billion US dollars. Quanta said demand is broadening across utility, power generation, industrial and technology customers.

Higher targets raise execution bar

Quanta now expects 2026 revenue of 41.3 billion to 41.6 billion US dollars, net income attributable to common stock of 1.92 billion to 1.98 billion US dollars and GAAP diluted earnings per share of 12.57 to 12.97 US dollars. Adjusted diluted earnings per share is forecast at 17.90 to 18.30 US dollars, while adjusted EBITDA is expected to range from 4.40 billion to 4.49 billion US dollars.

Management also lifted its full-year free-cash-flow outlook to 2.50 billion to 3.00 billion US dollars and expects operating cash flow of 3.45 billion to 4.00 billion US dollars. Chief Executive Officer Duke Austin said the company was running ahead of the multi-year growth targets set at its 2026 Investor Day and saw potential for strong double-digit adjusted earnings-per-share growth in 2027.

The guidance includes adjusted measures that exclude items such as acquisition and integration costs, amortization, stock-based compensation and certain valuation effects. Quanta completed five acquisitions during the first nine months of 2026, while two acquisitions announced in September and October are not expected to contribute materially to the current year's results. For investors, the stronger outlook improves visibility but leaves execution, project timing, permitting, weather and integration as important variables.

The broader US market context remains relevant through the S&P 500.

More news and analyses on Quanta Services stock will follow as the company updates investors on demand, project execution and cash generation.