Quanta Services, Inc. Q1 2026 Earnings Recap

Quanta Services shares surged 18.1% after reporting double-digit revenue and profit growth, record backlog, and raising full-year financial guidance well above prior expectations. Management’s increased outlook and robust demand commentary resonated clearly with investors.

Key Takeaways

• Reported Q1 revenues of $7.9 billion, adjusted EBITDA of $686 million, and adjusted EPS of $2.68.
• Backlog hit a new record at $48.5 billion, supporting long-term earnings visibility.
• Full-year 2026 guidance raised: revenues now expected at $34.7–$35.2 billion, adjusted EBITDA at $3.49–$3.65 billion, and adjusted EPS at $13.55–$14.25.
• Management highlighted strong demand for manufacturing and logistics capabilities, notably in power transformers and data center infrastructure.
• Strategic investments aim to double power transformer capacity and expand off-site facilities, underpinning the multi-year growth thesis outlined at the recent Investor Day.