Quanta Services Q4 EPS Beats Forecast, Backlog Tops $44B; Price Targets Raised
Truist raised its price target on Quanta Services to $643 from $548 and DA Davidson lifted its target to $575 from $450 following Q4 results. Q4 adjusted EPS came in at $3.16 versus $3.02 consensus, revenue reached $7.84 billion versus $7.37 billion, and backlog hit a record $44.0 billion.
1. Analyst Price Target Increases
Truist raised its price target on Quanta Services to $643 from $548 and maintained a Buy rating, while DA Davidson increased its target to $575 from $450 with a Neutral rating, citing solid Q4 results and an attractive earnings trajectory.
2. Q4 Financial Results
Quanta Services reported Q4 adjusted EPS of $3.16 versus a $3.02 consensus and revenue of $7.84 billion compared with $7.37 billion expected, driven by strong operating performance across key segments.
3. Backlog and Segment Performance
The company closed 2025 with a record $44.0 billion backlog, reflecting double-digit year-over-year growth, accelerating demand in Electric Infrastructure and support from recent acquisitions, while the Underground Utility segment met consensus.
4. Strategic Position and Outlook
Quanta’s durable end-market demand, multi-year backlog visibility and disciplined risk management position it for continued growth across electric, communications and pipeline sectors during the North American infrastructure cycle.