TLDR
- Quanta jumps 4.51% to $542.75 as Q4 and FY records power the rally
- Q4 revenue hits $7.84B as EBITDA climbs to $845M and EPS lands at $3.16
- Backlog surges to $43.98B with Electric segment posting record RPO momentum
- $1.73B deals add 3,200+ staff and expand transmission, services, aviation support
- 2026 guide signals double-digit growth and over 20% EPS upside from scale and demand
Quanta Services Inc. (PWR) stock continued its strong market advance as the stock traded at $542.75, up 4.51%, following new results that highlighted record quarterly and full-year performance. The company reported sharp gains in revenue, net income, and adjusted EBITDA, which reinforced expectations for another year of double-digit growth in 2026. The update signaled rising demand across electric infrastructure markets and supported management’s outlook for a new backlog record.
Strong Q4 Performance Supports Upbeat 2026 Outlook
Quanta Services posted fourth-quarter revenues of $7.84 billion, which marked a sizeable increase from the prior year. The company also generated net income of $315.5 million and produced adjusted diluted EPS of $3.16. It recorded adjusted EBITDA of $845.3 million, which further strengthened its financial position.
The firm also reported cash flow from operations of $1.13 billion, which helped deliver free cash flow of $946.4 million. Year-end remaining performance obligations reached $23.76 billion, and total backlog climbed to $43.98 billion. Additionally, the Electric Infrastructure Solutions segment ended the year with record RPO and total backlog.
This segment momentum supported a confident 2026 guidance range that pointed to double-digit revenue, net income, and adjusted EBITDA growth. The guidance also reflected the potential for over 20% EPS expansion. Therefore, Quanta entered the new year with stronger visibility and wider market opportunities.
Acquisitions Expand Electric Infrastructure Reach
Quanta completed three acquisitions during the fourth quarter, which included Tri-City Group, Wilson Construction, and Billings Flying Service. These additions expanded its capabilities in inside electrical services, high-voltage transmission, and aviation support. The companies added more than 3,200 employees across key U.S. regions.
The upfront consideration for these transactions totaled about $1.73 billion, which included $1.54 billion in cash and $187 million in stock. One business also carried potential contingent consideration tied to performance over two years. The company used its commercial paper program to fund the cash portion of these acquisitions.
Management expects the acquired companies to contribute $0.40 to $0.50 of adjusted EPS during 2026. Most of this contribution will flow through the Electric segment, which continues to benefit from rising demand for grid modernization. As a result, the deals align with Quanta’s strategy to scale capabilities and support critical-path programs.
Full-Year 2025 Results Highlight Broad Growth
Quanta reported full-year revenues of $28.48 billion, which grew meaningfully from 2024 levels. Net income reached $1.03 billion, and diluted EPS rose to $6.80. The company also generated adjusted diluted EPS of $10.75 and produced adjusted EBITDA of $2.88 billion.
Cash flow from operations totaled $2.23 billion, and free cash flow reached $1.67 billion. These results reflected sustained activity across utility, power generation, and large-load sectors. In addition, the company noted ongoing expansion in its addressable markets.
The strong operational base supported confidence in delivering another year of record backlog in 2026. Rising demand for electric infrastructure modernization continues to guide contract wins across regions. Therefore, the company remains positioned to advance its long-term growth strategy with stronger execution capabilities.
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