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Q3 25 EPS
$3.33
BEAT +2.18%
Est. $3.26
Q3 25 Revenue
$7.63B
BEAT +2.88%
Est. $7.42B
vs S&P Since Q3 25
+40.9%
BEATING MARKET
PWR +50.7% vs S&P +9.8%
Market Reaction
Did PWR Beat Earnings? Q3 2025 Results
Quanta Services capped a record-setting third quarter of 2025 with adjusted diluted EPS of $3.33, beating the $3.26 consensus estimate by 2.18%, while revenue of $7.63 billion topped expectations by 2.88% and marked a 17.5% increase from the year-ago… Read more Quanta Services capped a record-setting third quarter of 2025 with adjusted diluted EPS of $3.33, beating the $3.26 consensus estimate by 2.18%, while revenue of $7.63 billion topped expectations by 2.88% and marked a 17.5% increase from the year-ago period. The primary engine behind the outperformance was the Electric Infrastructure Solutions segment, which generated $6.17 billion in revenue at an 11.4% operating margin, up from $5.23 billion and 11.0% a year earlier, reflecting accelerating demand for grid modernization and data-center-driven power infrastructure. Adjusted EBITDA reached a record $858.33 million, and total backlog climbed to a record $39.17 billion, underscoring the durability of the company's pipeline. A landmark selection by NiSource to design and build roughly 3 gigawatts of generation and grid infrastructure, in a joint venture with Zachry Group, added further strategic weight to the quarter. Shares hit a 52-week high on the results, and management raised full-year 2025 revenue guidance to $27.80 billion-$28.20 billion with adjusted diluted EPS now expected between $10.33 and $10.83.
Key Takeaways
- • Accelerating demand in Electric segment drove record quarterly revenue
- • Double-digit year-over-year growth in revenue, adjusted EBITDA and adjusted EPS
- • Electric segment operating margin expanded to 11.4% from 11.0% year-over-year
- • Underground and Infrastructure segment operating margin improved to 8.4% from 7.5% year-over-year
- • Record total backlog of $39.2 billion reflecting strong demand visibility
- • Five acquisitions completed year-to-date contributing to revenue growth
PWR YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
PWR Revenue by Segment
With YoY comparisons, source: SEC Filings
“Quanta delivered another quarter of strong results, achieving double-digit growth in revenue, adjusted EBITDA and adjusted EPS compared to the prior year, alongside record backlog of $39.2 billion, which reflects accelerating demand in our Electric segment, robust activity across our end markets and momentum for 2026. These results demonstrate the power of our portfolio, the strength of our craft-skilled workforce and our ability to provide certainty through world-class execution for our customers as they modernize and expand critical infrastructure.”
— Duke Austin, Q3 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% |