(JK, 'ol Tom didn't actually say that)
From Reuters, February 19:
Quanta Services forecasts 2026 profit above estimates on strong AI data center-led demand
Quanta Services (PWR.N), on Thursday forecast 2026 profit above Wall Street estimates, as robust investments in AI-infrastructure boosts demand for the energy contractor's core electric segment.
Shares of the company rose 6% in premarket trading.
The Houston, Texas-based company expects full-year adjusted profit per share between $12.65 and $13.35, above analysts' estimate of $12.44 per share, according to data compiled by LSEG."The convergence of utility, power generation, and large-load industries continues to create significant opportunities," Quanta Services CEO Duke Austin said.The company said, during the previous quarter's earnings call, it was well-positioned to leverage its capabilities in addressing growing electricity and infrastructure demand from data centers, manufacturing and reshoring, industrialization, electrification and power grid expansion.The company — which provides infrastructure services for utility, renewable energy, technology, communications, pipeline and energy industries — benefits from robust investments in AI data centers from hyperscalers....
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On a generally down day the stock is up $27.77 (+5.34%) at $547.34 in late pre-market trading.
Here's the press release from the company:
