Quanta Services reported an exceptional first quarter with strong double-digit growth in revenue, adjusted EBITDA, and adjusted EPS, exceeding expectations and leading to increased full-year financial guidance. The company highlighted its differentiated operating model, execution certainty, and strong backlog as key drivers for its positive outlook.
Record first quarter revenues of $7.87 billion, a significant increase from $6.23 billion in Q1 2025.
positiveGAAP Diluted EPS of $1.45, up from $0.96 in Q1 2025, and Adjusted Diluted EPS of $2.68, up from $1.78 in Q1 2025.
positiveRecord backlog of $48.5 billion and Remaining Performance Obligations (RPO) of $26.2 billion, indicating strong future revenue visibility.
positiveIncreased full-year 2026 financial expectations for revenue, net income, EPS, EBITDA, and free cash flow.
positiveOperating income for the Electric segment was $561.1 million (8.7% margin), and for Underground and Infrastructure was $105.6 million (7.5% margin), both showing strong performance.
positiveOperating income for the Corporate and Non-Allocated Costs was a loss of $327.9 million, a deterioration from a loss of $245.9 million in Q1 2025.
attentionAmortization of intangible assets was $152.4 million, a significant increase from $109.6 million in Q1 2025.
attentionNon-cash stock-based compensation increased to $62.6 million from $38.2 million in Q1 2025.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Electric | N/A | — | — | — |
Underground and Infrastructure | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Quanta delivered an exceptional first quarter, reflected by strong double-digit growth in revenue, adjusted EBITDA and adjusted earnings per share, along with record backlog of $48.5 billion.
Revenue growth and margin performance exceeded our expectations across both segments, demonstrating the power of our differentiated, solutions-based operating model and the execution certainty our craft-skilled workforce delivers for our customers every day.
Based on this strong start to the year and improved visibility, we are increasing our full-year 2026 financial expectations and remain on track to deliver another year of double-digit earnings per share growth.
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Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.