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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“entered into a long-term strategic partnership with Quanta Services to strengthen and accelerate capabilities for 765 kV transmission infrastructure buildout”
AEP named Quanta Services its preferred provider under a long-term partnership for 765 kV transmission construction, a large multi-year workflow for Quanta.
“we have signed a separate EPC contract with Quanta to lead the construction of our advanced battery storage facilities, reinforcing our commitment and capability to deliver effective, reliable and sustainable energy solutions for Indiana”
NiSource signed a separate EPC contract with Quanta Services to build its advanced battery storage facilities, an engineering/construction supplier read-through for Quanta.
“If you think about the current environment, I think you're referencing, we did Miller and Quanta did Cupertino and then in this morning, they just did DSI.”
EMCOR's CEO notes competitor Quanta Services has also been active in large M&A (Cupertino Electric, DSI), reflecting an increasingly active consolidation environment in electrical/mechanical contracting.
“We work with NVIDIA and others to make sure that we see where they're going and make sure we have the craft necessary.”
Quanta works with NVIDIA on data center power architecture (54V to 800V DC shift) to stay ahead of chip-driven design changes and ensure it has the right craft labor.
“I think part of that was a collaboration with the industry and our client and AEP on building transformers to their spec.”
Quanta describes collaborating with its client AEP to build power transformers to AEP's spec as part of Quanta's vertical supply chain build-out.
“we announced Quanta selection by NiSource to design, procure and construct generation and infrastructure resources, capable of producing approximately 3 gigawatts of power for our large data center campus in Indiana.”
Quanta was selected by NiSource to design and build ~3 GW of generation for a large Indiana data center campus, a positive read-through for NiSource's load growth and data-center-driven capital plan.
“Cupertino acquisition was a great platform.”
Quanta cites its prior Cupertino Electric acquisition as a successful platform for scaling inside-wireman/technology (data center) capabilities.
“enhance our liquidity position following the acquisition of Dynamic Systems.”
Quanta acquired Dynamic Systems (DSI), a mechanical construction business, expanding its self-perform mechanical capabilities.
“we've built 8 gigs of generation and Zachary has built 6, so 14 gigs put together. They built 100 CCGTs.”
Quanta formed a 50-50 JV with Zachry (Zachary) to build combined-cycle gas generation, positioning the private engineering/construction firm as its power-generation partner.
“With AEP, look, they're a large customer of ours, have been for many, many years. We have great relationships there. And I do think we're collaborating on 765 capabilities and doing a lot of different things together.”
Quanta describes AEP as a long-standing large customer it is collaborating with on 765 kV transmission, implying AEP is advancing high-voltage transmission investment.
“NiSource has engaged Quanta's for a design, procurement and construction execution of generation and infrastructure resources capable of producing approximately 3 gigawatts of power for a large load customer.”
NiSource has engaged Quanta on a ~3 GW generation and infrastructure build for a large load customer, signaling a major capital project and deepening customer relationship for NiSource.
“It was Texas Instruments years ago and following them across the country, they were a great supplier to Texas Instruments.”
Newly acquired Dynamic Systems built its mechanical-contracting business historically as a key supplier to Texas Instruments' semiconductor facilities.
“Another one that's been out there is the Grain Belt Express. You didn't comment on it here, but I guess that's been press release that you and Kiewit picked up work there.”
An analyst notes press reports that Quanta and Kiewit jointly picked up construction work on the Grain Belt Express transmission line.
“The calls that I'm listening to on the utilities, such as AEP, others, every one of them basically have gone up in their CapEx as well.”
CEO Duke Austin cites rising CapEx guidance from utility customers like AEP as evidence of the transmission investment wave benefiting Quanta.
“Additionally, in the second quarter, we made a strategic investment in Bell Lumber and Pole Company, which is the largest private producer of round wooden poles and other mass timber products, primarily serving the utility, telecom and construction industries.”
Quanta took a 40% stake in Bell Lumber and Pole, the largest private wooden-pole producer, to secure a core utility supply-chain input.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Chad Dillard | Bernstein | 7 (0%) |
| Philip Shen | ROTH Capital Partners | 7 (14%) |
| Jamie Cook | Truist Securities | 7 (0%) |
| Brian Brophy | Stifel | 6 (0%) |
| Steve Fleishman | Wolfe Research | 6 (33%) |
| Justin Hauke | Robert W. Baird | 6 (0%) |
| Adam Thalhimer | Thompson Davis | 6 (0%) |
| Steve Fisher | UBS | 6 (0%) |
| Ati Modak | Goldman Sachs | 6 (0%) |
| Mike Dudas | Vertical Research Partners | 5 (20%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Truist Securities | 1 | 7 (0%) |
| ROTH Capital Partners | 1 | 7 (14%) |
| Wolfe Research | 2 | 7 (29%) |
| Jefferies |
| 3 |
| 7 (0%) |
| Bernstein | 1 | 7 (0%) |
| Robert W. Baird | 1 | 6 (0%) |
| Goldman Sachs | 1 | 6 (0%) |
| Stifel | 1 | 6 (0%) |
Quanta capped an outstanding FY2025 with revenues reaching $28.5 billion, up 20%, and a record adjusted diluted EPS of $3.16 in Q4. An aggressive acquisition program added 11,100 employees, and total backlog reached $44 billion. Management introduced FY2026 guidance for over 20% adjusted EPS growth with continued double-digit revenue growth, while announcing $500-$700 million in vertical supply chain investments.
Demand | Capex Investment | Competitive Dynamics | M&A | Cloud & AI | Regulation Policy | Revenue Growth | Margin | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 7 | 4 | 3 | 3 | 3 | 4 | 3 | 2 |
| 2025Q1 | 8 | 6 | 5 | 2 | 3 | 3 | 2 | 1 |
| 2025Q2 | 9 | 2 | 3 | 7 | 2 | 4 | 1 | |
| 2025Q3 | 7 | 8 | 7 | 4 | 3 | 2 | 2 | 2 |
| 2025Q4 | 5 | 3 | 2 | 2 | 4 | 1 | 2 | |
| 2026Q1 | 11 | 4 | 5 | 3 | 3 | 2 | 6 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 7 | 8 | 9 | 7 | 5 | 11 |
| Capex Investment | 4 | 6 | 2 | 8 | 3 | 4 |
| Competitive Dynamics | 3 | 5 | 3 | 7 | 2 | 5 |
| M&A | 3 | 2 | 7 | 4 | 2 | 3 |
| Cloud & AI | 3 | 3 | 2 | 3 | 4 | 3 |
| Regulation Policy | 4 | 3 | 4 | 2 | 1 | 2 |
| Revenue Growth | 3 | 2 | 2 | 6 | ||
| Margin | 2 | 1 | 1 | 2 | 2 | 2 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
PWR Quanta Services | 10 | +26.3% | |
| EME EMCOR Group, Inc. | 10 | +19.7% | |
| FIX Comfort Systems USA, Inc. | 10 | +56.5% | |
| J Jacobs Solutions | 8 | +26.9% |