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Quanta Services (PWR) investor relations material
Quanta Services Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved strong double-digit growth in Q2 2025 revenue, adjusted EBITDA, and EPS, with record backlog of $35.8B and increased performance obligations.
Major acquisitions, including Dynamic Systems for $1.35B, expanded capabilities in mechanical, plumbing, and process infrastructure.
Strategic investments in Bell Lumber and Pole Company and other businesses enhanced supply chain and service offerings.
Raised full-year 2025 financial guidance for revenue, adjusted EBITDA, and adjusted EPS due to strong Q2 results and acquisitions.
Positioned to capitalize on demand for resilient electric grids, power generation, and technology-driven infrastructure.
Financial highlights
Q2 2025 revenue reached $6.8B, up 21.1% year-over-year; net income attributable to common stock was $229.3M.
Adjusted diluted EPS was $2.48 and adjusted EBITDA was $669M for the quarter.
Six-month 2025 revenues were $13.01B, net income $373.5M, and adjusted diluted EPS $4.25.
Cash flow from operations for the first half of 2025 was $538.9M; Q2 free cash flow was $170M.
Backlog and performance obligations reached record levels: $35.8B and $19.2B, respectively.
Outlook and guidance
Full-year 2025 revenue expected between $27.4B–$27.9B, adjusted EBITDA $2.76B–$2.89B, and adjusted EPS $10.28–$10.88.
Free cash flow forecasted at $1.2B–$1.7B for 2025.
Management expects strong demand for services, supported by robust backlog and performance obligations.
Utilities' grid modernization, electrification, and renewables expected to drive future growth.
Revenues from large pipeline projects may fluctuate.
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