Quanta Services raises 2026 revenue guidance after 57% third-quarter revenue growth

Quanta Services raises its full-year outlook

Quanta Services raised its full-year 2026 revenue and EPS guidance following a third quarter in which revenue increased 57% and adjusted EPS rose 82%. The company also reported 37% organic revenue growth, record free cash flow of $1.2 billion and backlog of $63.7 billion, up $10 billion during the quarter.

Management said ongoing acquisition opportunities and record infrastructure demand were key drivers of the updated outlook. Its full-year 2026 adjusted EPS guidance was $17.90 to $18.30.

Recent share-price decline follows the guidance increase

The higher guidance came after Quanta Services shares fell 29.25% over one month and 24.23% over three months. Despite that recent decline, the stock's total shareholder return was 15.03% over one year and approximately 3.4 times over five years.

The reporting identified a $620 fair-value estimate against a recent closing price of $509.06, while also noting that the stock traded at 45.6 times earnings, compared with 23.9 times for the U.S. construction industry and a peer average of 19.3 times. Those valuation figures and estimates are analysis rather than company guidance.

Execution and demand remain the principal monitoring points

The raised outlook was attributed to record infrastructure demand and potential acquisitions. The reviewed reporting cautioned that Quanta Services could face pressure if hyperscaler capital spending slowed or if the company encountered execution problems on large fixed-price jobs. These were stated risk factors, not reported operating outcomes.

The available reporting did not identify the amount of Quanta Services' revenue guidance, the specific acquisitions under consideration, or the timing of further capital-spending or project-execution updates.