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# Quanta Services Backlog Hits $63.73 Billion As Quarterly Revenue Climbs To $12.01 Billion
- URL: https://www.bullished.co/quanta-services-backlog-hits-63-73-billion-as-quarterly-revenue-climbs-to-12-01-billion-d8449838/
- Published: 2026-10-29T11:06:46.000Z
- Updated: 2026-10-29T11:06:46.000Z
- Description: The contractor raised its 2026 outlook across all metrics after third-quarter revenue rose from $7.63 billion a year earlier.
- Author: Matteo Parrino
- Tags: Earnings, PWR, Industry: Industrials

Quanta Services, which designs, builds and maintains infrastructure for utilities, power generators, data centers and pipelines, said Thursday its third-quarter [revenue reached a record $12.01 billion](https://www.sec.gov/Archives/edgar/data/0001050915/000119312526436949/d77812dex991.htm?ref=bullished.co), up from $7.63 billion a year earlier, and raised its 2026 forecast across every metric.

## Profit more than doubled

Net income attributable to common stock was $694.9 million, or $4.55 per diluted share, against $339.4 million, or $2.24, a year earlier. Adjusted earnings per share were $6.06, compared with $3.33.

Adjusted EBITDA, a measure of operating earnings before interest, taxes, depreciation and amortization, was $1.45 billion, versus $858.3 million in the third quarter of 2025\. Operating margin widened to 8.5% from 6.8%.

Free cash flow was $1.2 billion, compared with $438.1 million a year earlier. For the first nine months, revenue was $29.45 billion and adjusted earnings per share were $12.98, against $7.59.

## A $63.73 billion backlog

Backlog, the company's estimate of work it expects to perform, hit a record $63.73 billion, up from $39.17 billion at September 30, 2025\. The Electric segment accounted for $51.89 billion of it.

Quanta also reported remaining performance obligations, a narrower measure of firm orders, of $41.8 billion. The Electric segment produced $9.80 billion of the quarter's revenue, with an operating margin of 12.6%.

Chief Executive Duke Austin said demand is broadening across utility, power generation, industrial and technology customers and that Quanta is "pacing ahead of the multi-year growth targets" it laid out at its 2026 Investor Day. He added that the company sees opportunity for strong double-digit adjusted EPS growth in 2027.

## The raised 2026 outlook

For the full year, Quanta now expects:

- Revenue of $41.3 billion to $41.6 billion.
- Adjusted earnings per share of $17.90 to $18.30.
- Adjusted EBITDA of $4.40 billion to $4.49 billion.
- Free cash flow of $2.50 billion to $3.00 billion.

Quanta also completed two acquisitions in September and October, a Houston energy services provider and a Fort Worth maker of steel monopoles, for about $245 million net of cash acquired: roughly $96 million in cash and $149 million in stock. They are not expected to contribute materially to 2026 results.

In August the company issued $2.00 billion of senior notes, and on September 1 it prepaid the full $618.8 million term loan balance.

Quanta holds its earnings webcast at 9:00 a.m. ET Thursday, where management plans brief introductory remarks and leaves most of the commentary to a written document, freeing time for questions.

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### Sources

- [8-K Filing — QUANTA SERVICES, INC. (PWR)](https://www.sec.gov/Archives/edgar/data/0001050915/000119312526436949/d77812d8k.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit d77812dex991.htm — QUANTA SERVICES, INC. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001050915/000119312526436949/d77812dex991.htm?ref=bullished.co) — SEC EDGAR
- [5 Data Center Power Stocks to Watch Before Earnings | OilPrice.com](https://oilprice.com/Energy/Energy-General/5-Data-Center-Power-Stocks-to-Watch-Before-Earnings.html?ref=bullished.co) — oilprice.com