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Dec 31, 2025
Quanta Services Q4 2025 Earnings Report
Quanta Services, Inc. reported its financial results for the fourth quarter and full-year ended December 31, 2025, with double-digit growth in revenues and adjusted EBITDA.
Key Takeaways
Quanta Services closed 2025 with a strong fourth quarter, achieving record revenues, net income, and adjusted EBITDA. The company also reported record backlog, reflecting accelerating demand in its Electric segment and sustained activity across all end markets, positioning it well for 2026.
Consolidated revenues for Q4 2025 reached $7.84 billion, a significant increase from the previous year.
GAAP diluted EPS for Q4 2025 was $2.08, with adjusted diluted EPS at $3.16.
Net income attributable to common stock for Q4 2025 was $315.5 million.
Adjusted EBITDA for Q4 2025 was $845.3 million, marking a record for the quarter.
Revenue by Segment
Forward Guidance
For the full year ending December 31, 2026, Quanta expects revenues to range between $33.25 billion and $33.75 billion, with net income attributable to common stock between $1.27 billion and $1.38 billion. Diluted EPS is projected to be between $8.36 and $9.06, and adjusted diluted EPS between $12.65 and $13.35. Adjusted EBITDA is expected to be between $3.34 billion and $3.50 billion, and free cash flow between $1.55 billion and $2.05 billion.
Positive Outlook
- Full-Year 2026 Guidance Reflects Double-Digit Growth in Revenues, Net Income and Adjusted EBITDA.
- Full-Year 2026 Guidance Range Reflects Opportunity to Deliver Over 20% EPS Growth.
- Expectation to achieve record backlog in 2026.
- The long-term outlook for Quanta's business is positive, driven by the convergence of utility, power generation, and large-load industries.
- Collaborative infrastructure solutions and proven execution capabilities position Quanta as a trusted partner for critical programs.
Challenges Ahead
- Weather, regulatory, permitting, supply chain challenges, and other factors may impact project timing and execution.
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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