Quanta Services, Inc. (NYSE: PWR) reported financial results for the fiscal quarter ended September 30, 2026, and announced updated full-year guidance. The company reported record third-quarter consolidated revenues of $12.01 billion, a significant increase from the $7.63 billion reported in the same period of 2025. Net income attributable to common stock for the third quarter was $694.9 million, or $4.55 per diluted share, compared to $339.4 million, or $2.24 per diluted share, in the prior year.
Adjusted diluted earnings per share for the third quarter of 2026 were $6.06, up from $3.33 in the prior year. The company also reported adjusted EBITDA of $1.4 billion and free cash flow of $1.2 billion for the quarter. Total backlog reached a record $63.7 billion, and remaining performance obligations (RPO) stood at $41.8 billion.
Management stated that the breadth of its portfolio and the fungibility of its skilled workforce across multiple end markets drove the strong results. The company completed two acquisitions in September and October 2026 to strengthen front-end capabilities. In August 2026, Quanta issued $2.00 billion in senior notes and increased its revolving credit facility commitments to $2.98 billion.
Based on the strong performance, Quanta has significantly increased its full-year 2026 financial expectations. For the full year ending December 31, 2026, the company now expects revenues to range between $41.3 billion and $41.6 billion. Net income attributable to common stock is expected to be between $1.92 billion and $1.98 billion. Diluted earnings per share is expected to range from $12.57 to $12.97, while adjusted diluted earnings per share is expected to be between $17.90 and $18.30. The company also expects adjusted EBITDA to range from $4.40 billion to $4.49 billion and free cash flow to range from $2.50 billion to $3.00 billion.
