Quanta Services, Inc. (NYSE:PWR) reported adjusted earnings of $2.48 per share for the second quarter, slightly beating analyst estimates of $2.46. The infrastructure services provider benefited from robust demand across its business segments.
Revenue hit a record $6.8 billion, surpassing the consensus estimate of $6.57 billion and marking a 21% increase from $5.59 billion in the same quarter last year. Despite the strong results, Quanta’s shares slipped 0.51% in pre-market trading following the announcement.
Net income attributable to common stockholders rose to $229.3 million, or $1.52 per diluted share, compared to $188.2 million, or $1.26 per diluted share, in Q2 2024. Adjusted EBITDA increased 28% year-over-year to $668.8 million.
“Quanta delivered a strong first half of the year, with our second quarter results reflecting another quarter of double-digit growth in revenue, adjusted EBITDA and adjusted earnings per share and record total backlog of $35.8 billion,” said Duke Austin, President and Chief Executive Officer of Quanta Services. “These results reflect Quanta’s ability to provide certainty through the power of our portfolio and world-class execution.”
The Electric Infrastructure Solutions segment, which represents about 80% of total revenue, generated $5.46 billion in the quarter—up 21.6% year-over-year. The Underground, Utility and Infrastructure Solutions segment added $1.31 billion, an 18.7% increase compared to the prior year.
Quanta raised its full-year 2025 outlook, now projecting revenue between $27.4 billion and $27.9 billion, adjusted earnings per share of $10.28 to $10.88, and adjusted EBITDA ranging from $2.76 billion to $2.89 billion. The upgraded guidance reflects both the strong Q2 performance and the recent acquisition of Dynamic Systems, a mechanical, plumbing, and process infrastructure solutions provider, for roughly $1.35 billion.
The company’s total backlog reached a record $35.8 billion at quarter-end, up from $31.3 billion a year earlier, signaling strong demand ahead.
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