PWR Quanta Services (PWR) Q4 FY25 earnings call
Quanta Services closed Q4 FY25 with record financial results, driven by strong execution and strategic acquisitions, reinforcing its position as a compounder of profitable growth. The company is well-positioned for continued double-digit earnings growth in 2026, supported by a record $44 billion backlog and multi-decade demand drivers in utility, power generation, and large load industries. Management emphasizes disciplined investment in craft labor and vertical supply chains to ensure execution certainty amidst unprecedented infrastructure investment requirements.
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PWR operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | Sep 2025 Q3 FY25 | This call Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Backlog | $34.5BTotal backlog at year-end was $34.5 billion, and notably, Renewable Energy Infrastructure Solutions segment 12-month and total backlog achieved all-time highs.Source: earnings call transcript | $35.3BThis morning, we reported our first quarter 2025 results, which included robust double-digit growth in revenue, adjusted EBITDA and adjusted earnings per share, along with record backlog of $35.3 billion and a number of other record financial metrics.Source: earnings call transcript | $39.2BQuanta delivered another quarter of strong results, achieving double-digit growth in revenue, adjusted EBITDA and adjusted EPS compared to the prior year, along with record backlog of $39.2 billion and a number of other record financial metrics.Source: earnings call transcript | $44BLooking ahead, we see substantial momentum building across our end markets as evidenced by our total backlog of $44 billion.Source: earnings call transcript | $48.5BBased on the continued momentum evidenced by our record $48.5 billion of backlog, the strong performance during the quarter and improved visibility into the remainder of the year, we are raising our full year financial expectations.Source: earnings call transcript | $53BThis morning, we reported second quarter results that meaningfully exceeded expectations with strong double-digit growth in revenues, adjusted EBITDA and adjusted earnings per share, robust cash flow and record backlog of $53 billion.Source: earnings call transcript | +9.3% |
| Employees | — | — | — | ~69.5KIn the aggregate, the acquisitions we completed in 2025, along with our organic growth, added approximately 11,100 employees, bringing our total workforce to approximately 69,500 at year-end, reinforcing our self-perform capabilities that provide certainty and differentiates Quanta as a solutions provider.Source: earnings call transcript | — | 85K+Everything we are about to discuss starts with our more than 85,000 employees and the execution they deliver for our customers safely, on time and on budget every day.Source: earnings call transcript | — |
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