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PWRBullishEarningsShort Term
High materiality8/10

QUANTA SERVICES REPORTS SECOND QUARTER 2026 RESULTS

StockNews.AIJul 30, 6:55 AM EDT1 source
Trading thesisImportance 8/10

Bullish on PWR over the next 6–12 months as backlog, acquisitions, and higher 2026 guidance support multi-quarter upside.

AI summary

What happened and why it matters

Quanta Services posted a strong Q2 2026 with revenue of $9.56B and GAAP EPS of $2.96, or $4.24 on an adjusted basis. Backlog hit a record $53.4B and remaining performance obligations were $33.6B, prompting a significant lift to full-year guidance across metrics. The company completed four acquisitions (Phalcon, Enerfab, Percheron, PSD) and announced a Hyosung HICO Breaker JV to boost domestic high-voltage capabilities, underpinning higher visibility and upside into 2026.

  • Backlog and RPO reach record levels, signaling durable revenue growth.
  • 2026 guidance raised across revenues, EBITDA, EPS, and free cash flow.
  • Acquisitions add ~$1.2–1.4B in revenue and $120–140M in adjusted EBITDA for 2026.
  • Moody's upgrade to Baa2 may reduce financing costs and broaden access to capital.

Sentiment rationale

Material beat-and-raise driven by record backlog, sizable backlog visibility, and accretive acquisitions. Moody's upgrade reduces funding risk, and the Hyosung JV expands domestic manufacturing, potentially accelerating project wins; all support multiple-quarter upside beyond the initial reaction.

Key facts

  1. 01

    Quanta Q2 2026 revenue $9.56B; GAAP EPS $2.96, adjusted $4.24.

  2. 02

    Backlog reached a record $53.4B; RPO at $33.6B; higher 2026 guidance.

  3. 03

    Acquisitions Phalcon, Enerfab, Percheron, PSD closed; Enerfab integration in July 2026.

  4. 04

    Hyosung HICO Breaker JV formed to produce 800 kV breakers domestically.

Earnings

Category: Earnings. The release centers on Q2 2026 results, raised guidance, and large-scale strategic M&A/alliances that expand Quanta's platform and addressable markets, justifying the earnings framework and forward-looking outlook.

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