Quanta Services, Inc., a contractor, raised its 2026 revenue and adjusted earnings targets after quarterly sales exceeded $12 billion, citing a record backlog and demand across several customer industries.
Revenue for the three months ended Sept. 30 reached $12.01 billion, compared with $7.63 billion in the same period a year earlier. Net income attributable to common stock was $694.9 million, against $339.4 million a year ago. Diluted earnings per share came in at $4.55, up from $2.24, while adjusted diluted earnings per share totaled $6.06, compared with $3.33.
Quanta reported $63.7 billion in total backlog and $41.8 billion in remaining performance obligations. It said each amount set a record for a quarter or third quarter. The updated full-year forecast calls for revenue between $41.3 billion and $41.6 billion, with adjusted diluted earnings per share of $17.90 to $18.30.
President and Chief Executive Officer Duke Austin said Quanta believes continued backlog growth presents an opportunity for strong double-digit adjusted earnings-per-share growth in 2027. The company framed that as an opportunity tied to further backlog expansion.
Quanta said demand is broadening among utility, power-generation, industrial and technology customers. It pointed to its ability to deploy skilled workers across those markets as a source of competitive strength, and said customers and stockholders benefit from that reach.
The company disclosed the results in an Oct. 29 Form 8-K filed with the U.S. Securities and Exchange Commission (SEC). The SEC index lists Items 2.02 for operating results, 7.01 for Regulation FD disclosure, and 9.01 for financial statements and exhibits; the earnings release is Exhibit 99.1. The release listed an earnings webcast for 9 a.m. ET on Oct. 29.
