Q1 25 EPS
$1.78
BEAT +6.93%
Est. $1.66
Q1 25 Revenue
$6.23B
BEAT +6.27%
Est. $5.87B
vs S&P Since Q1 25
+79.4%
BEATING MARKET
PWR +112.9% vs S&P +33.5%
Market Reaction
Did PWR Beat Earnings? Q1 2025 Results
Quanta Services opened 2025 with a standout first quarter, posting adjusted diluted EPS of $1.78 against a consensus estimate of $1.66, a beat of 6.93%, while revenue of $6.23 billion topped the $5.87 billion estimate by 6.27% and climbed 23.9% year … Read more Quanta Services opened 2025 with a standout first quarter, posting adjusted diluted EPS of $1.78 against a consensus estimate of $1.66, a beat of 6.93%, while revenue of $6.23 billion topped the $5.87 billion estimate by 6.27% and climbed 23.9% year over year. The primary engine behind those results was the company's Electric Infrastructure Solutions segment, which generated $4.94 billion in revenue and expanded its operating margin to 8.3% from 7.7% a year ago, reflecting surging demand for grid modernization and power infrastructure tied to electrification trends. Record total backlog of $35.25 billion, up from $29.90 billion in Q1 2024, underscores the durability of that demand pipeline, and a notable win, the LADWP McCullough-Victorville 500-kilovolt transmission line project, illustrates the scale of work flowing into the business. Buoyed by the quarter's strength, management raised the midpoint of its full-year 2025 guidance, now targeting revenue of $26.70 billion to $27.20 billion and adjusted diluted EPS of $10.05 to $10.65, signaling continued confidence despite acknowledged risks around tariffs and supply chain dynamics.
Key Takeaways
- • Double-digit revenue growth driven by both Electric and Underground segments
- • Improved operating margins in both segments (Electric 8.3% vs 7.7%; Underground 6.0% vs 4.2%)
- • Record total backlog of $35.3 billion providing strong revenue visibility
- • Acquisition activity contributing to revenue growth (two acquisitions in Q1 2025)
- • Expanding total addressable market through expanded service lines
PWR YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
PWR Revenue by Segment
With YoY comparisons, source: SEC Filings
“Quanta is pleased to report strong first quarter results, including robust double-digit growth in revenue, adjusted EBITDA and adjusted earnings per share, along with record backlog of $35.3 billion. Both our Electric Infrastructure Solutions and Underground and Infrastructure Solutions segments delivered improved profitability, reflecting continued sound performance and safe execution. As a result, we have increased the midpoint of our revenue, adjusted EBITDA and adjusted EPS expectations for the full year of 2025.”
— Duke Austin, Q1 2025 Earnings Press Release
PWR Earnings Trends
PWR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
PWR EPS Trend
Earnings per share: estimate vs actual
PWR Revenue Trend
Quarterly revenue: estimate vs actual
PWR Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $2.03 | $2.68 | +31.88% | $7.87B | +12.67% |
| Q4 25 BEAT FY | $3.02 | $3.16 | +4.68% | $7.84B | +6.34% |
| FY Full Year | $10.61 | $10.75 | +1.30% | $28.48B | +1.62% |
| Q3 25 BEAT | $3.26 | $3.33 | +2.18% | $7.63B | +2.88% |
| Q2 25 BEAT | $2.44 | $2.48 | +1.44% | $6.77B | +3.16% |
| Q1 25 BEAT | $1.66 | $1.78 | +6.93% | $6.23B | +6.27% |