The stock did get close to the bottom of the gap mentioned in yesterday's "Heavy Construction: Electrical Contractor Quanta Services Q3 2025 Revenue Surpasses Estimates at $7.63 Billion, GAAP EPS Falls Short at $2.24, Stock Fades (PWR)":
Aargh, I hate it when stock rise into earnings:
After trading up $9.12 (+2.07%) yesterday (and up 10.55% over the last month) the stock is down $2.68 (-0.60%) in early pre-market trade. $446.01 last.
A fill of that $427.35 to $439.00 Oct. 23 - 24 gap before we get moving again would be nice.
the prints were weak, occurred premarket and didn't quite touch that $427.35:
8:48 AM EDT 2 shares at $428.48.
9:05 AM EDT 14 shares at 428.50.
But the decline did reverse, dramatically, rising $25.35 to close the regular session up $5.14 (+1.15%) at $453.83,
Yeah, when I get bored I do time & sales analysis, what's your hobby?
From Motley Fool Transcripts, October 30, skipping past the excellent overview and summary:
Thursday, Oct. 30, 2025, at 9 a.m. ET
Call participants
President and Chief Executive Officer — Duke Austin
Chief Financial Officer — Jayshree S. Desai
Vice President, Investor Relations — Kip A. Rupp
...Full Conference Call Transcript
Kip A. Rupp: Great. Thank you, and welcome everyone to the Quanta Services third quarter 2025 earnings conference call. This morning, we issued a press release announcing our third quarter 2025 results, which can be found in the Investor Relations section of our website at quantaservices.com. This morning, we also posted our third quarter 2025 operational and financial commentary and our 2025 outlook expectation summary on Quanta's Investor Relations website. While management will make brief introductory remarks during this morning's call, the operational and financial commentary is intended to largely replace management's prepared remarks, allowing additional time for questions from the institutional investment community.
Please remember that information reported on this call speaks only as of today, 10/30/2025, and therefore, you are advised that any time-sensitive information may no longer be accurate as of any replay of this call. This call will include forward-looking statements and information intended to qualify under the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995, including statements reflecting expectations, intentions, assumptions, or beliefs about future events or financial performance or that do not solely relate to historical or current facts.
You should not place undue reliance on these statements as they involve certain risks, uncertainties, and assumptions that are difficult to predict or beyond Quanta's control, and actual results may differ materially from those expressed or implied. We will also present certain historical and forecasted non-GAAP financial measures. Reconciliations of these financial measures to their most directly comparable GAAP financial measures are included in our earnings release and operational and financial commentary. Please refer to these documents for additional information regarding our forward-looking statements and non-GAAP financial measures. Lastly, please sign up for email alerts through the Investor Relations section of quantaservices.com to receive notifications of news releases and other information.
And follow Quanta IR and Quanta Services on the social media channels listed on our website. With that, I would like to now turn the call over to Mr. Duke Austin, Quanta's President and CEO. Duke?
Duke Austin: Thanks, Kip. Good morning, everyone. Quanta delivered another quarter of strong results, achieving double-digit growth in revenue, adjusted EBITDA, and adjusted EPS compared to the prior year, along with a record backlog of $39.2 billion and a number of other record financial metrics. These results reflect accelerating demand in our electric segment, robust activity across our end markets, and positive momentum headed into 2026. They demonstrate the strength of our portfolio, the capability of our craft-skilled workforce, and our ability to provide certainty through world-class execution as customers modernize and expand critical infrastructure.
Our performance continues to be powered by Quanta's core drivers: craft-skilled labor, execution certainty, and disciplined investment, which are critical to how we operate and create long-term value. Our craft workforce remains the foundation of our business, executing with safety, quality, and reliability across diverse infrastructure solutions. Execution certainty reinforces our reputation as a trusted partner capable of consistent high-quality project delivery, and disciplined investment ensures capital is allocated toward opportunities that strengthen our platform, deepen customer relationships, and support sustainable growth. Quanta's integrated solution-based model continues to differentiate our platform. By combining craft labor with engineering, technology, and program management expertise, and critical supply chain capabilities, we deliver comprehensive self-perform solutions across the full infrastructure life cycle.
This approach deepens customer partnerships and positions Quanta as a long-term collaborator, not a traditional contractor. Quanta operates at the center of a fundamental transformation in the energy and infrastructure sectors. The convergence of the utility, power generation, technology, and large load industries is driving increased demand for resilient grids, expanded generation and storage, and new infrastructure to support electrification, data centers, and domestic manufacturing. These structural drivers are fueling a generational investment cycle in critical infrastructure, and Quanta's diversified, scalable platform is well-positioned to capitalize on these opportunities.
To that end, this morning, we announced the expansion of our total solutions that builds upon our world-class craft-skilled labor capabilities and history of constructing more than 80,000 megawatts of power generation through our industry-leading renewable energy and battery energy storage solutions, as well as other forms of generation. Our total solutions power generation platform leverages these capabilities to address growing generation and infrastructure needs due to the rapidly increasing demand for electricity from data centers, manufacturing and reshoring, industrialization, electrification, and power grid expansion. This platform is focused on providing a fully integrated solution to high-quality customers for their generation development strategies.
As a demonstration of this platform's strength and scalability, NiSource has engaged Quanta for a design, procurement, and construction execution of generation and infrastructure resources capable of producing approximately three gigawatts of power for a large load customer. This project highlights the strength of our total solutions platform, spanning power generation, battery energy storage, transmission, substation, and underground infrastructure, and underscores the value of our collaborative approach and builds on our relationship with NiSource and strong presence in Indiana. We believe these announcements reinforce our strategy to lead in large converging markets where utilities, power consumers, and industrial operators require scalable integrated solutions. We expect to achieve record backlog and another year of double-digit earnings per share growth in 2026.
Our strategy remains focused on delivering certainty to customers, investing in talent and technology, and expanding our addressable markets through disciplined strategic growth. Quanta's resilient solution-based model has performed well through varying market conditions. Our strong execution, disciplined investment, and commitment to safety and quality continue to differentiate our platform and support sustainable value creation for our shareholders. I will now turn it over to Jayshree Desai, Quanta's CFO, to provide a few remarks about our results and 2025 guidance, and then we will take your questions. Jayshree?
Jayshree S. Desai: Thanks, Duke, and good morning, everyone. This morning, we reported third quarter results with revenues of $7.6 billion, net income attributable to common stock of $339 million, or $2.24 per diluted share, adjusted diluted earnings per share of $3.33, and adjusted EBITDA of $858 million. Based on our continued backlog momentum and strong revenue growth during the quarter, we are raising our full-year revenue expectations to a range of $27.8 to $28.2 billion. We are also raising our full-year free cash flow expectations to $1.5 billion at the midpoint, driven by another quarter of healthy free cash flow, totaling $438 million.
During the quarter, we issued $1.5 billion of notes to recapitalize the balance sheet and enhance our liquidity position following the acquisition of Dynamic Systems. The interest rate on these notes was approximately 40 basis points lower than our issuance in 2024, reflecting the benefit of our recent ratings upgrade and the stability of our earnings outlook. This transaction reinforces our ability to support operations, maintain financial flexibility, and deploy capital strategically while preserving our investment-grade rating. Our customers continue to value Quanta's differentiated, self-performed craft labor solutions, and we are expanding our platforms for growth, as evidenced by the power generation platform we announced today.
These dynamics, coupled with another quarter of record backlog, give us confidence in our ability to drive sustained revenue and earnings growth over the coming years. As we look toward 2026, the end market momentum and our consistent execution position us to deliver another year of double-digit adjusted EPS growth and attractive returns. We believe the opportunities ahead represent the next phase of a generational investment cycle in critical infrastructure, and Quanta is well-positioned to lead through it, delivering consistent performance, disciplined capital deployment, and long-term value creation for our stakeholders. Our operational and financial commentary and outlook expectation summary can be found on our Investor Relations website. With that, we are happy to take your questions. Operator?
Operator: We will now move to our question and answer session. For today's session, we will be utilizing the raise hand feature via the webinar. If you would like to ask a question, simply click on the raise hand button at the bottom of your screen and press star six to unmute. Once you have been called on, please unmute yourself and begin to ask your question. We ask that all participants limit themselves to one question. If you have additional questions, you may re-queue, and those questions will be addressed, time permitting. Thank you. We will now pause a moment to assemble a queue. Our first question is from Steve Fleishman from Wolfe Research.
Please unmute your line and ask your question....
....MUCH MORE
In this morning's pre-market action the stock is changing hands at $458.26, up a bit more.
We'll see if the buyers maintain their enthusiasm
