Quanta Services (PWR) reported a significant Q2 earnings beat on July 30, with its backlog increasing nearly 50% year-over-year to $53.4 billion. The company, a leader in energy infrastructure, is projected to double its adjusted earnings per share (EPS) by 2030, forecasting a 50% EPS growth in 2026 driven by 38% higher revenue.
Quanta’s robust performance comes amid rising capital expenditures in AI and infrastructure, with Nvidia securing $500 billion in funding for AI infrastructure development. Quanta’s revenue is expected to reach $45.3 billion by 2027, up from $11.2 billion in 2020, reinforcing its position in a $2.4 trillion total addressable market.
Currently ranked #1 (Strong Buy) by Zacks, Quanta is trading approximately 34% below its highs, positioning itself for potential future gains as infrastructure demands soar, necessitating a doubling of U.S. electricity generation by 2050.
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