EarningsQ2 2026 Earnings Report
MX:PWR Q2 2026 EPS Results
Actual EPS$77.00
Consensus EPS$60.06
Beat/MissBeat by +$16.94
One Year Ago EPS$45.04
MX:PWR Q2 2026 Revenue Results
Actual Revenue$173.56B
Expected Revenue$156.36B
Beat/MissBeat by +$17.20B
YoY Revenue Growth+41.10%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
MX:PWR Upcoming Earnings
Quanta Services's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:PWR Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was broadly positive: Quanta reported a strong Q2 beat with record backlog, raised full-year guidance, improved leverage and liquidity, robust free cash flow, and meaningful organic strength across utility, technology, MEP and renewables. Management reinforced a disciplined, craft-centric execution model and articulated clear synergies from recent M&A and fabrication investments. Key risks noted include timing/lumpiness of very large projects (many still early-stage), selective risk appetite on certain generation EPC work, regulatory/pipeline timing for some data center projects, long equipment lead times, and integration/contingent considerations from recent acquisitions. On balance, the positives (financial outperformance, backlog, guidance raise, cash flow and strengthened balance sheet) outweigh the noted execution and market risks.Company Guidance
Quarterly Financial Outperformance
Q2 2026 revenues of $9.6 billion; net income attributable to common stock of $451 million ($2.96 per diluted share); adjusted diluted EPS of $4.24; adjusted EBITDA of $1.1 billion — management described results as meaningfully exceeding expectations and showing strong double-digit growth across revenues, adjusted EBITDA and adjusted EPS.
Raised Full-Year 2026 Guidance
Company materially increased 2026 guidance: revenues $39.3B–$39.7B, adjusted EBITDA $4.1B–$4.2B, adjusted EPS $16.45–$16.95, and free cash flow $2.0B–$2.5B; management attributes the raise to strong H1 performance, improved visibility and expected contributions from recent acquisitions.
Record Backlog and Strong Demand Visibility
Reported record backlog of $53 billion, reflecting broad-based organic demand across segments and management expectation of stacking larger utility, generation and technology programs in coming years.
Acquisition Activity and Expected Contribution
Completed acquisitions of Phalcon, Enerfab, Percheron and PSD (approx. $1.24B upfront consideration plus ~$242M contingent consideration). Q2 included roughly $11M of adjusted EBITDA from these deals; management expects $1.2B–$1.4B of incremental 2026 revenues and $120M–$140M of adjusted EBITDA from the acquisitions.
Improved Balance Sheet and Liquidity
Total liquidity of approximately $2.8 billion and reported debt-to-EBITDA of 1.7 at quarter-end, improved from 1.95 at the end of 2025 (a ~0.25 point improvement, ~13% reduction in the ratio). Moody's upgraded ratings, cited as evidence of a strengthened credit profile despite M&A activity.
Strong Free Cash Flow and Working Capital Trends
First half free cash flow described as very strong; company reiterated a baseline conversion rate around 55% with ability to be in the 55%–60% range (and potentially higher), and set full-year free cash flow guidance at $2.0B–$2.5B.
Scale, Workforce and Self-Performance
Management highlighted a craft-centered model with >85,000 employees, self-performing 80%–85% of work; added roughly 15,000 employees year‑to‑date (including ~7–8k organic hires), driving execution capacity and training investments (~$250M/year in training).
Progress in Technology, MEP and Fabrication Capabilities
Broad-based growth in technology/load-center work and MEP/EPC activity. Fabrication capacity highlighted (~7 million sq ft existing, ~0.5M added via recent acquisitions). Management notes improved win rates on balance-of-plant and larger technology programs and cross-segment labor fungibility driving synergies.
Renewables and Utilities Momentum
Management indicated record performance in renewables and continued strong trends in T&D and generation-related opportunities, with multiyear/multidecade client capital plans and large transmission/generation work expected to compound in future years.
MX:PWR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed