Quanta Services raises all five 2026 targets after third-quarter revenue of $12.01B tops forecasts
Earnings per share of $6.06 came in $1.03 above expectations, and the company now expects revenue of $41.3 billion to $41.6 billion for the year.
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Quanta Services raised every one of its full-year 2026 targets after third-quarter results beat forecasts, and the new range leans on a fourth quarter that management expects to be stronger still.
Third-quarter revenue was $12.01B, against $11.07B expected. Earnings per share were $6.06, which is $1.03 above expectations.
For the year, Quanta now expects revenue of $41.3 billion to $41.6 billion. Adjusted diluted earnings per share are guided to $17.90 to $18.30, and GAAP diluted earnings per share to $12.57 to $12.97. Adjusted EBITDA, a measure of operating profit before interest, tax, depreciation and amortisation, is guided to $4.40 billion to $4.49 billion.
Duke Austin, President and CEO, said the outperformance and the incremental strength expected in the fourth quarter led the company to again significantly raise its full-year expectations across all metrics.
Because the quarter's beat is now built into the annual outlook, the year-end figures depend on that stronger fourth quarter. Free cash flow is guided to $2.50 billion to $3.00 billion. That is the figure to watch, since it shows whether the higher earnings targets are turning into cash.
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