Quanta Services Q3 2026: Record $63.7B Backlog Signals Years of Grid and Data Center Work Ahead
As seen on the 24/7 Wall St. homepage on October 29, 2026.
Backlog hit a record $63.7 billion, the clearest read yet on how much grid and data center work is still ahead. Quanta topped expectations on both lines and raised full-year guidance across every metric, with management flagging double-digit adjusted EPS growth in 2027.
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Quanta Services posted adjusted diluted earnings per share of $6.06 for the third quarter of 2026, beating expectations as electricity infrastructure spending accelerates.
The Electric Infrastructure Solutions segment drove the quarter, generating $9.80 billion in revenue, and the gain is converting into cash rather than top-line momentum alone.
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The record $63.73 billion total backlog, up from $39.2 billion a year earlier, is what investors are paying for here. CEO Duke Austin cited broadening demand across utility, power generation, industrial, and technology customers, and said the company is pacing ahead of the multi-year targets set at its 2026 Investor Day.
Management raised full-year 2026 guidance across every metric and flagged strong double-digit adjusted EPS growth in 2027, supported by continued backlog growth. Quanta has beaten consensus estimates for six consecutive quarters, a streak the expanded backlog suggests will continue.
Mentioned: PWR