Quanta Services Q2 revenue jumps 41%, beats estimates

Overview

• U.S. infrastructure solutions provider's Q2 revenue rose sharply, beating analyst expectations

• Adjusted EPS for Q2 beat analyst expectations

• Company completed four acquisitions and authorized new $1 bln share buyback program

Outlook

• Quanta Services raises 2026 revenue outlook to $39.3 bln-$39.7 bln

• Company expects 2026 adjusted diluted EPS of $16.45-$16.95

• Company sees acquisitions adding $1.2 bln-$1.4 bln to 2026 revenue

Result Drivers

• OPERATING MODEL - Co said results reflect the strength of its solutions-based operating model and execution by its workforce

• CUSTOMER INVESTMENT - Co said growth was supported by increased investment from customers in electric grid, power generation and mission-critical infrastructure

• ACQUISITIONS - Co completed four acquisitions during and after Q2, but said three did not materially contribute to Q2 results

Company press release: ID:nPn9jvbcTa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 22 "strong buy" or "buy", 10 "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 42.6% above its July 29 closing price of $561.14

• The stock recently traded at 37 times the next 12-month earnings vs. a P/E of 40 three months ago

Reuters Recommended Reads

• July 29 - MYR Group Q2 revenue beats estimates on CI segment growth

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• July 29 - Tetra Tech beats Q3 revenue estimates on federal and international growth, raises FY adjusted EPS guidance

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)