Jun 2026 (Q2 FY26) — Jul 30, 2026
Quanta Services Q2 FY26 — Record Backlog and Raised Full-Year Outlook
Read the full callQuanta Services earnings: last reported Thu, 30 Jul 2026, for the quarter ended Jun 2026.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 9,557 | +41.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 7.3 | +1.8 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 451 | +96.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
13 of 14 judged targets kept · 22 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Acquisitions completed | Some M&A over the next 9 months | Mar 2026 | we acquired 4 companies for approximately $1.24 billion of upfront consideration, net of cash acquired | Achieved |
| 765 kV large transmission work entering backlog | Opportunities to book 765 kV work starting in Q3 or early Q4 2025 | Mar 2025 | those big projects, the 765 corridors, 345, 500, all those bigger work is just starting... second half of [20]27, you'll start to see us go to the field in a meaningful way | Delayed |
| Adjusted EPS of $11 or more in 2026 (Investor Day upside case) | $11 in 2026 on 15%+ EPS growth | Sep 2024 | adjusted EPS to range between $16.45 and $16.95 | On Track |
1 of QUANTA SERVICES, INC.'s 36 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 33 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: $433.85 on 17 Oct 2025 → $618.41. High $785.24 (6 May 2026), low $412.21 (22 Oct 2025).
Overview
Guidance
13 of 14 judged targets kept · 22 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Acquisitions completed | Some M&A over the next 9 months | Mar 2026 | we acquired 4 companies for approximately $1.24 billion of upfront consideration, net of cash acquired | Achieved |
| 765 kV large transmission work entering backlog | Opportunities to book 765 kV work starting in Q3 or early Q4 2025 | Mar 2025 | those big projects, the 765 corridors, 345, 500, all those bigger work is just starting... second half of [20]27, you'll start to see us go to the field in a meaningful way | Delayed |
| Adjusted EPS of $11 or more in 2026 (Investor Day upside case) | $11 in 2026 on 15%+ EPS growth | Sep 2024 | adjusted EPS to range between $16.45 and $16.95 | On Track |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 36 tracked commitments, with each call’s wording and source.
Call summaries
Quanta Services Q2 FY26 — Record Backlog and Raised Full-Year Outlook
Read the full callQuanta Services Q1 FY26 — Strong Start with Record Backlog and Raised Outlook
Read the full callQuanta Services Q4 FY25 — Record Results Driven by Infrastructure Transformation
Read the full callEvery analysed call
Financials
Net profit, year on year: +97% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 6,493 | 6,553 | 6,233 | 6,773 | 7,631 | 7,842 | 7,875 | 9,557 |
| Operating profit | 431 | 453 | 239 | 370 | 517 | 485 | 339 | 695 |
| Operating margin | 6.6% | 6.9% | 3.8% | 5.5% | 6.8% | 6.2% | 4.3% | 7.3% |
| Interest | 60 | 56 | 54 | 60 | 72 | 76 | 73 | 74 |
| Profit before tax | 381 | 416 | 189 | 319 | 462 | 420 | 256 | 617 |
| Tax rate | 21.6% | 25.5% | 21.1% | 26.7% | 25.9% | 24.6% | 9.7% | 25.5% |
| Net profit | 293 | 305 | 144 | 229 | 339 | 315 | 221 | 451 |
| EPS ($ per share) | 1.99 | — | 0.97 | 1.54 | 2.28 | — | 1.47 | 3.01 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | 2,477 | 2,854 | 3,265 | 3,715 | 4,163 | 4,858 | 5,707 | 6,674 |
| Total liabilities | 3,470 | 4,278 | 4,049 | 7,738 | 8,066 | 9,954 | 11,354 | 15,899 |
| Fixed assets | 1,276 | 1,387 | 1,561 | 1,920 | 2,030 | 2,337 | 2,700 | 3,455 |
| Total assets | 7,076 | 8,332 | 8,398 | 12,855 | 13,464 | 16,237 | 18,684 | 24,927 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 359 | 527 | 1,116 | 582 | 1,130 | 1,576 | 2,081 | 2,230 |
| Cash from investing | -403 | -618 | -499 | -2,899 | -617 | -990 | -2,294 | -3,831 |
| Cash from financing | -17 | 178 | -601 | 2,361 | -311 | 269 | -306 | 1,275 |
| Net cash flow | -61 | 86 | 17 | 45 | 201 | 862 | -549 | -303 |
| Capital expenditure | -294 | -262 | -260 | -386 | -428 | -435 | -604 | -609 |
| Free cash flow | 65 | 265 | 856 | 197 | 703 | 1,141 | 1,477 | 1,621 |
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Electric | — | — | 79% | 81% | 81% | — | 82% | 82% | +43.6% |
| Underground and Infrastructure | — | — | 21% | 19% | 19% | 18% | 18% | 18% | +30.7% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | Sep 2025 Q3 FY25 | 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 | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Q2 FY2026 · share of revenue
As PWR cuts its regions in its filings; they can nest, so they need not add to 100%.
84 filings between Nov 3, 2025 and Jun 1, 2026.
Purchases
None
No insider bought shares.
Sales
$137.54M
35 sales by 6 insiders
Also filed: 9 gifts, 1 disposition to issuer.
| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Austin Earl C. Jr. | — | $120.22M | May 5, 2026 |
| WAYNE DONALD | — | $6.21M | Nov 6, 2025 |
| Ducey Gerald A JR | — | $3.41M | Nov 6, 2025 |
| NOBEL PAUL | — | $3.03M | May 4, 2026 |
| JACKMAN WORTHING | — | $2.86M | Nov 5, 2025 |
| FRIED BERNARD | — | $1.81M | Nov 3, 2025 |
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Jun 1, 2026 | FRIED BERNARD Director | Option exercise | 559 | $0 |
| Jun 1, 2026 | WYRSCH MARTHA B Director | Option exercise | 559 | $0 |
| Jun 1, 2026 | Beneby Doyle N Director | Option exercise | 870 | $0 |
| Jun 1, 2026 | BAXTER WARNER L Director | Option exercise | 559 | $0 |
| Jun 1, 2026 | JACKMAN WORTHING Director | Option exercise | 559 | $0 |
| Jun 1, 2026 | Ladhani Holli C. Director | Option exercise | 559 | $0 |
| Jun 1, 2026 | Ladhani Holli C. Director | Disposition to issuer | 196 | $139.5K |
| Jun 1, 2026 | Rowe Robert Scott Director | Option exercise | 559 | $0 |
| May 28, 2026 | FRIED BERNARD Director | Option exercise | 4,823 | $0 |
| May 21, 2026 | VALENTIN RAUL JAVIER Director | Option exercise | 559 | $0 |
| May 11, 2026 | WYRSCH MARTHA B Director | Gift | 2,500 | $0 |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 6,382 | $4.91M |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 5,509 | $4.22M |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 1,523 | $1.17M |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 305 | $233.9K |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 5,286 | $4.08M |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 1,030 | $788.1K |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 2,992 | $2.33M |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 7,768 | $6.03M |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 10,712 | $8.26M |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 4,562 | $3.53M |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 5,313 | $4.12M |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 3,098 | $2.40M |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 27,368 | $21.06M |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 1,590 | $1.24M |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 998 | $766.2K |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 30,478 | $23.43M |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 4,846 | $3.73M |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 4,354 | $3.36M |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 2,187 | $1.69M |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 1,086 | $842.5K |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 934 | $723.6K |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 545 | $421.7K |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 1,121 | $866.1K |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 4,062 | $3.12M |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 614 | $477.4K |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Gift | 4,008 | $0 |
| May 5, 2026 | Austin Earl C. Jr. President and CEO | Sale | 21,329 | $16.44M |
| May 4, 2026 | NOBEL PAUL Chief Accounting Officer & SVP | Sale | 4,000 | $3.03M |
| May 4, 2026 | NOBEL PAUL Chief Accounting Officer & SVP | Gift | 45 | $0 |
| Mar 9, 2026 | Desai Jayshree S Chief Financial Officer | Tax withheld | 781 | $421.9K |
| Mar 9, 2026 | Ducey Gerald A JR Pres. - Strategic Operations | Tax withheld | 409 | $220.9K |
| Mar 9, 2026 | Austin Earl C. Jr. President and CEO | Tax withheld | 2,441 | $1.32M |
| Mar 9, 2026 | NOBEL PAUL Chief Accounting Officer & SVP | Tax withheld | 148 | $79.9K |
| Mar 9, 2026 | WAYNE DONALD EVP and General Counsel | Tax withheld | 426 | $230.1K |
| Mar 9, 2026 | Studer Karl W President, Electric Power | Tax withheld | 682 | $368.4K |
| Mar 4, 2026 | NOBEL PAUL Chief Accounting Officer & SVP | Tax withheld | 241 | $136.4K |
| Mar 4, 2026 | WAYNE DONALD EVP and General Counsel | Tax withheld | 588 | $332.8K |
| Mar 4, 2026 | Studer Karl W President, Electric Power | Tax withheld | 943 | $533.7K |
| Mar 4, 2026 | Ducey Gerald A JR Pres. - Strategic Operations | Tax withheld | 1,999 | $1.13M |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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