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Earnings analysis · 10-Q

PWR earnings analysis

Filed April 30, 2026 · Our reading of the company's report

The latest report

Quanta Services (PWR) delivered robust Q1 2026 results, posting revenues of $7.87 billion and a diluted EPS of $1.45, both surpassing analyst expectations. The company highlighted significant demand across its segments,…

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Quanta Services (PWR) delivered robust Q1 2026 results, posting revenues of $7.87 billion and a diluted EPS of $1.45, both surpassing analyst expectations. The company highlighted significant demand across its segments, notably in Electric Infrastructure Solutions. Management raised its full-year 2026 guidance due to favorable market conditions and an impressive backlog of $48.5 billion.

Read the original on SEC.gov

From revenue to operating profit

Where each $100 of revenue went in this report.

Of every $100 of revenue Cost of sales $86 Operating expenses $10 Left as operating profit $4

Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.

Reported figures

Earnings per share
$1.45
Segment
Electric
Segment
Underground and Infrastructure

What stood out

  • Revenue Growth of 26.3%

    Q1 2026 revenues soared to $7.87 billion, up 26.3% from $6.23 billion in Q1 2025.

  • Significant EPS Increase

    Diluted EPS for Q1 2026 was reported at $1.45, a hefty increase compared to $0.96 in Q1 2025.

  • Strong Operating Income Growth

    Operating income surged 41.7% to $338.8 million, compared to $239.1 million in Q1 2025.

  • Electric Segment Revenue Surge

    The Electric segment saw revenues increase by $1.52 billion, totaling $6.47 billion for Q1 2026.

  • Increased Backlog

    Total backlog rose to $48.47 billion, reflecting a 10.2% increase since December 31, 2025.

  • Impressive Operating Cash Flow

    Net cash provided by operating activities was $391.7 million, a 61% increase from Q1 2025.

What to watch

  • Higher Debt Levels

    Interest and other financing expenses rose to $73.27 million, up 34.9% due to increased debt levels.

  • Fluctuating Project Revenues

    Revenues from large pipeline projects are expected to continue fluctuating, affecting predictability.

  • Supply Chain Challenges

    Management noted potential future project delays stemming from ongoing supply chain issues and regulatory uncertainties.

Management's outlook

Management raised full-year 2026 guidance based on robust demand and visibility in backlog.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.