Quanta Services, a Houston-based infrastructure contractor, reported record quarterly revenue of $9,56 billion for the second quarter of 2026, marking a 41.1% increase year-over-year. The company's trailing twelve-month revenue through June 2026 reached $32,91 billion, up 26.3% compared to the previous year.
Following these results, management raised its 2026 revenue guidance to a range of $39,3 billion to $39,7 billion. This forecast is supported by a record backlog of $53,4 billion recorded at the end of the second quarter. Additionally, the company projects a 25% growth in its transmission pipeline, reaching a total of $170 billion.
The company specializes in electric power transmission and distribution, now serving both traditional utility clients and hyperscale data center operators. Quanta utilizes a self-performing model, handling 80-85% of its projects with its own workforce rather than relying on subcontractors.
On September 24, 2026, Bernstein upgraded Quanta stock to Outperform with a price target of $775. Recently, the company's shares have traded in the range of $640 to $660. Analysts note that the firm's growth is tied to the capital expenditure plans of major technology companies investing in data centers.
