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HOUSTON - Quanta Services , Inc. (NYSE:PWR) reported second quarter adjusted earnings of $2.48 per share, slightly above analyst expectations of $2.46, as the infrastructure services provider benefited from strong demand across its business segments.
Revenue reached a record $6.8 billion, exceeding the consensus estimate of $6.57 billion and representing a 21% increase from $5.59 billion in the same quarter last year.
The company’s shares edged down 0.51% in pre-market trading following the announcement.
Quanta’s second quarter net income attributable to common stock rose to $229.3 million, or $1.52 per diluted share, compared to $188.2 million, or $1.26 per diluted share, in the second quarter of 2024. Adjusted EBITDA increased 28% YoY to $668.8 million.
"Quanta delivered a strong first half of the year, with our second quarter results reflecting another quarter of double-digit growth in revenue, adjusted EBITDA and adjusted earnings per share and record total backlog of $35.8 billion," said Duke Austin, President and Chief Executive Officer of Quanta Services. "These results reflect Quanta’s ability to provide certainty through the power of our portfolio and world-class execution."
The company’s Electric Infrastructure Solutions segment, which accounts for approximately 80% of total revenue, generated $5.46 billion in the quarter, up 21.6% YoY. The Underground, Utility and Infrastructure Solutions segment contributed $1.31 billion, an 18.7% increase from the prior year.
Quanta raised its full-year 2025 outlook, now expecting revenue between $27.4 billion and $27.9 billion, adjusted earnings per share of $10.28 to $10.88, and adjusted EBITDA of $2.76 billion to $2.89 billion. The improved guidance reflects both strong second quarter performance and the recent acquisition of Dynamic Systems, a mechanical, plumbing and process infrastructure solutions provider, for approximately $1.35 billion.
The company’s total backlog reached a record $35.8 billion at the end of the quarter, up from $31.3 billion a year earlier, indicating strong future demand for its services.
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