Quanta Services Q3 revenue beats on broadening demand; raises 2026 outlook
Overview
U.S. infrastructure solutions provider's Q3 revenue rose and beat analyst expectations
Q3 adjusted EPS beat analyst expectations
Company completed two acquisitions to expand fabrication and supply chain capabilities
Outlook
Quanta expects 2026 revenue between $41.3 bln and $41.6 bln
Company sees 2026 diluted EPS of $12.57-$12.97; adjusted diluted EPS of $17.90-$18.30
Quanta has raised its full-year 2026 financial guidance across all key metrics
Result Drivers
OPERATING MODEL - Co attributed Q3 results to its solutions-based operating model and self-perform capabilities
WORKFORCE FLEXIBILITY - Co said ability to deploy skilled workforce across markets helped drive results
BROADENING DEMAND - Co said expanding demand from utility, power generation, industrial and technology customers supported Q3 performance
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $12 bln | $11.04 bln (22 Analysts) |
Q3 Adjusted EPS | Beat | $6.06 | $5.02 (24 Analysts) |
Q3 EPS | $4.55 | ||
Q3 Net Income | $694.90 mln | ||
Q3 Adjusted EBITDA | Beat | $1.40 bln | $1.23 bln (22 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 26 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the construction & engineering peer group is "buy"
Wall Street's median 12-month price target for Quanta Services Inc is $800.00, about 31.8% above its October 28 closing price of $606.89
The stock recently traded at 32 times the next 12-month earnings vs. a P/E of 47 three months ago
Reuters Recommended Reads
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)