Quanta Services, Inc. announced strong first-quarter 2025 results, with revenues increasing 23.9% year-over-year to $6.23 billion, and adjusted diluted earnings per share (EPS) rising 26.2% to $1.78. Net income attributable to common stock grew 21.9% to $144.3 million.
The company achieved a record total backlog of $35.3 billion, supporting expectations for continued growth in 2025 and beyond. Adjusted EBITDA increased 30.1% to $503.9 million, reflecting improved profitability in both the Electric Infrastructure Solutions and Underground Utility and Infrastructure Solutions segments.
Quanta raised the midpoint of its full-year 2025 revenue guidance to a range of $26.7 billion to $27.2 billion, and adjusted diluted EPS guidance to $10.05 to $10.65. This updated outlook reflects confidence in the business's trajectory and operational execution.
S&P Global Ratings upgraded Quanta's issuer credit rating from 'BBB-' to 'BBB', and its unsecured issue-level rating from 'BBB-' to 'BBB', citing strengthened financial position. This upgrade is expected to lower borrowing costs and expand liquidity.
Additionally, Quanta was selected by the Los Angeles Department of Water and Power (LADWP) to upgrade the McCullough-Victorville Transmission Lines 1 and 2, a project spanning over 160 miles. Construction is anticipated to begin in mid-2026 and continue through late 2028, adding to the Electric segment's backlog.
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