Quanta Services Q3 2026 earnings: profit and revenue far outpace estimates
Quanta Services blew past Wall Street forecasts in Q3 2026, powered by surging electric-grid and data-center work, and raised its full-year outlook again.
| Q3 2026 | Reported | Expected | Surprise |
|---|---|---|---|
| EPS | $6.06 | $5.03 | +20.4% |
| Revenue | $12.01B | $11.07B | +8.5% |
Key takeaways
- Quanta, which builds and maintains electric power infrastructure, pipelines and telecom networks, topped Wall Street’s profit and revenue forecasts by a wide margin, extending a string of upside surprises this year.
- Revenue roughly doubled from the same quarter last year, driven mainly by stronger demand for the company’s services from utilities and other customers, plus a boost from several acquisitions completed earlier in the year.
- Management pointed to a boom in demand tied to the buildout of power infrastructure for AI data centers and the broader electric grid as a key growth driver, alongside continued renewable-energy and underground infrastructure work.
- Total contracted backlog — work already lined up for the future — climbed to a record $63.7 billion, which the company cited as evidence that growth has more room to run.
- Quanta again raised its full-year 2026 profit outlook, this time lifting its expected adjusted earnings per share range to roughly $12.65–$13.35 for the year, and said it expects another year of strong double-digit adjusted EPS growth in 2027.
- Margins remain thin by nature of Quanta’s construction and engineering business — trailing twelve-month operating margin is about 6% and net profit margin about 4% — but profitability has been improving, with EPS growing faster than revenue over the past year.
- Return on equity over the trailing year was about 15%, and revenue has grown roughly 26% year over year on a trailing basis, reflecting both organic demand growth and the contribution from acquired businesses.
- The company generated strong operating and free cash flow during the quarter, which it highlighted as supporting continued investment in the business and its acquisition strategy.
How the stock took it
Quanta Services Inc closed at $606.89 on Oct 28, 2026, the last session before the report, and at $620.73 on Oct 30, 2026, the first session after it — +2.3% across the report.
Closes from the market's daily record. Each figure spans the report date — from the last session that closed before it to the first that closed after — because a company may report before the open or after the close.
Fundamentals
| Metric | Value | Period |
|---|---|---|
| Gross margin | 15.5% | Trailing 12 months |
| Operating margin | 6.2% | Trailing 12 months |
| Net profit margin | 4.0% | Trailing 12 months |
| Pretax margin | 5.3% | Trailing 12 months |
| EPS | $8.73 | Trailing 12 months |
| Revenue growth (YoY) | 26.3% | Trailing 12 months |
| EPS growth (YoY) | 35.4% | Trailing 12 months |
| Return on equity | 14.7% | Trailing 12 months |
Sources: company report · earnings call · ticker-brief analysis