Citigroup maintains Quanta Services at Buy, raises price target to $882 from $871

Quanta Services (PWR) reported Q3 adjusted EPS of $6.06, up 82% YoY, and raised its 2026 outlook. Revenue is now expected between $41.3B-$41.6B, with adjusted EBITDA projected at $4.4B-$4.49B. The company cited strong backlog growth across renewable energy, transmission, and utility sectors, and expanded its workforce by 12,000 employees. Quanta also completed acquisitions and invested in manufacturing and supply-chain capacity.

Quanta Services reported strong Q3 2026 performance, driven by workforce flexibility and strategic utility partnerships. The company expects double-digit adjusted EPS growth in 2027, supported by a record $64 billion backlog. Management highlighted acquisitions, supply chain investments, and a growing workforce as key growth drivers. Quanta aims to maintain 10-12% utility margins and mitigate supply chain risks.

Quanta Services Inc (PWR) reported a record $64 billion backlog, with CEO Duke Austin attributing growth to broad-based demand, including renewables and a NYSERDA program. He expects future growth from large transmission and generation projects. Austin also highlighted the company's data center market involvement, with expanding scope and higher spending per location. Quanta is targeting 15-20% EPS CAGR through 2030, with current performance above expectations.

TD Cowen raised its price target for Quanta Services (NYSE:PWR) to $830 from $785, citing strong Q3 results and raised 2026 guidance. The stock surged 5% post-earnings, with Q3 revenue at $12B and EPS at $6.06, both exceeding estimates. Quanta's backlog grew 17% QoQ, and margins met 2030 targets. The stock has gained 44% YTD but is considered overvalued by InvestingPro.

Quanta Services (PWR) reported Q3 2026 results with revenue of $12B (+57% YoY), adjusted EBITDA of $1.4B (+69%), and EPS of $6.06 (+82%). The company raised full-year guidance, citing strong demand and a record backlog of $64B. Quanta highlighted its competitive advantages, including a skilled workforce and diverse end markets.

Quanta Services (PWR) stock rose 6.2% to $644.38 after reporting Q3 2026 results. Revenue was $12.01B, up 57.4% YoY, beating estimates. EPS of $6.06 also topped forecasts. The company raised full-year guidance and reported a record backlog of $63.7B. Truist raised its price target to $960. The S&P 500 declined 0.3% during the session.