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Jun 30, 2025
Quanta Services Q2 2025 Earnings Report
Quanta Services reported strong second quarter 2025 results, with double-digit growth in revenue, adjusted EBITDA, and adjusted EPS, alongside record total backlog.
Key Takeaways
Quanta Services delivered a robust second quarter in 2025, achieving record revenues of $6.77 billion, a significant increase from the previous year. The company also reported strong GAAP diluted EPS of $1.52 and an adjusted diluted EPS of $2.48, reflecting solid operational performance and strategic acquisitions. Net income attributable to common stock reached $229.3 million, and adjusted EBITDA was $668.8 million, both record figures for the quarter. The total backlog hit a record $35.8 billion, indicating continued strong demand for its services.
Second quarter 2025 revenues reached a record $6.77 billion, up from $5.59 billion in Q2 2024.
GAAP diluted EPS was $1.52, and adjusted diluted EPS was $2.48, demonstrating strong profitability.
Net income attributable to common stock was $229.3 million, and adjusted EBITDA was $668.8 million, both record second quarter results.
Total backlog increased to a record $35.8 billion, highlighting robust future demand for Quanta's infrastructure solutions.
Revenue by Segment
Forward Guidance
Quanta Services is raising its full-year 2025 financial expectations for revenue, adjusted EBITDA, and adjusted EPS, reflecting strong second-quarter results and the recent acquisition of Dynamic Systems.
Positive Outlook
- Full-year 2025 revenue is now expected to range between $27.4 billion and $27.9 billion.
- Full-year 2025 net income attributable to common stock is projected to be between $978.5 million and $1.07 billion.
- Diluted EPS attributable to common stock for full-year 2025 is expected to range from $6.47 to $7.07.
- Adjusted diluted EPS attributable to common stock for full-year 2025 is anticipated to be between $10.28 and $10.88.
- Adjusted EBITDA for full-year 2025 is now expected to range between $2.76 billion and $2.89 billion.
Challenges Ahead
- The outlook is subject to various uncertainties including weather, regulatory, permitting, and supply chain issues.
- Macroeconomic challenges such as inflation, interest rates, and potential recessionary conditions could impact financial results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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