Quanta Services beats third-quarter estimates and raises 2026 guidance
Earnings per share came in at $6.06, $1.03 above the estimate.
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Quanta Services reported third-quarter earnings per share of $6.06, $1.03 above the estimate. Revenue was $12.01 billion, against an expected $11.07 billion.
The company raised all five of its full-year 2026 measures. Revenue is now expected to be between $41.3 billion and $41.6 billion. Adjusted diluted earnings per share is expected between $17.90 and $18.30, and GAAP diluted earnings per share between $12.57 and $12.97. Adjusted EBITDA is expected between $4.40 billion and $4.49 billion. Free cash flow is expected between $2.50 billion and $3.00 billion.
Chief executive Duke Austin said the quarter's outperformance and a stronger expected fourth quarter led the company to raise its full-year 2026 expectations again, significantly, across all metrics.
The company is building the quarter's beat into its annual outlook, so the full-year figures now rest on a fourth quarter that management expects to be stronger still. Of the five measures, the free cash flow range is the one to watch. It shows whether the higher earnings outlook is turning into cash.
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