Is Quanta Services profitable in 2026?

Yes. Quanta Services (NYSE: PWR) reported FY2025 revenue of $28.48 billion (up 20.3% YoY) with adjusted diluted EPS of $10.75, and Q1 2026 revenue of $7.87 billion with diluted EPS of $2.68 versus $1.78 a year earlier, per its April 30, 2026 earnings release.

Could AI replace Quanta Services' workforce?

No. Quanta's core value is physical craft labor, linemen and electricians building electric grid infrastructure, which frontier AI cannot automate within a 3-5 year horizon. AI is instead a tailwind: hyperscaler data-center buildouts are driving record $48.5 billion backlog as of Q1 2026.

Who is Quanta Services' biggest competitor?

MasTec (MTZ) is Quanta's closest direct peer in scale and end-market mix (power delivery, communications, clean energy, pipeline), per a May 22, 2026 Yahoo Finance comparison. Other named peers include MYR Group, EMCOR Group, and Dycom Industries, though the market remains fragmented.

Is Quanta Services stock overvalued?

Possibly. Morningstar cut its fair value estimate to $400 per share on July 10, 2026, citing overestimated data-center and grid tailwinds, versus a trading range of roughly $631-658 that month, with forward P/E around 54x and EV/EBITDA near 28.3x.

Who owns Quanta Services?

Quanta Services trades publicly on the NYSE under ticker PWR and has no parent company. As of July 13, 2026, roughly 90.5% of shares were institutionally owned and about 0.6% insider-owned, per MarketBeat data.

Is Quanta Services facing layoffs in 2026?

No evidence of layoffs was found. Quanta's headcount rose from 58,400 in 2024 to about 69,500 at year-end 2025, an increase partly driven by acquisitions adding roughly 11,100 employees, per the company's 2025 Annual Report filed March 31, 2026.

Real estate developers · United States

Quanta Services

quantaservices.com ↗

Builds and maintains power grids, pipelines, and infrastructure for utilities and data centers.

Hard to displace

Assessed 20 July 2026 · Evidence as of 20 July 2026

Strong structural protection; the business model survives ai pressure.

On the recordSince 20 July 2026 · Checkable from July 30, 2026 · Every call on the record Checkpoint: Q2 2026 earnings release

The call

Grid electrification and data-center power demand keep filling Quanta's backlog faster than any rival or automation threat can touch it.

Quanta Services hires thousands of electricians and linemen to build and upgrade power lines and electrical systems for utilities and data centers. It is hard to copy because skilled workers take years to train, utilities prefer contractors they already know, and Quanta just bought a transformer factory to control more of the supply chain. MasTec is the main rival, but robots and automation could eventually replace some of this work over 10 to 20 years. The big question is whether Quanta can hire and deploy workers fast enough to turn its huge backlog into actual profits before the artificial intelligence data-center building boom slows down or the stock price drops from its current premium level.

Why

AI pressure: None apparent. AI data-center power demand is fueling Quanta's backlog, not automating away its linework. Could AI do the core job? Unlikely.

Bigger players: MasTec. MasTec competes for the same grid and data-center power contracts but is currently losing backlog share to Quanta. Could a giant copy it? Probably.

What protects it. A 69,500-person skilled craft workforce, multi-year utility contracts, and a labor shortage that blocks new entrants.

What would change this call

Quanta's quarterly backlog growth versus MasTec's over the next two earnings cycles. shows whether Quanta keeps converting the electrification boom into contracts faster than its closest peer.
Whether Quanta's headcount growth (69,500 craft workers) keeps outpacing MasTec's hiring. shows whether Quanta keeps winning the skilled-labor race that both companies depend on.
Any announcement of a large grid or data-center-power contract awarded to MasTec over Quanta. would indicate MasTec is starting to take marquee work Quanta would normally win.

Key numbers

Record backlog of $48.5 billion (2026-03-31)
FY2025 revenue $28.48 billion, up 20.3% YoY (2025-12-31)
FY2026 guidance raised to $34.7 to 35.2 billion revenue (2026-06-04)

Named risks

Valuation gap: trading near $650 vs Morningstar's $400 fair value estimate as of July 2026. Severity: high
Sector-wide skilled craft-labor shortage could cap ability to convert $48.5B backlog to revenue. Severity: medium
Sustained AI data-center capex pullback could slow backlog growth for two or more quarters. Severity: medium
Integration risk from active M&A pace, eight acquisitions in 2025 plus pending PSD Energy deal. Severity: low

Rivals, as read in July 2026

Rival	Direction	Evidence
MasTec	contesting	Named closest scale/end-market peer in May 22, 2026 Yahoo Finance comparison of AI infrastructure stocks
EMCOR Group	contesting	Operates as adjacent broader facilities/construction competitor per July 13, 2026 MarketBeat listing
MYR Group	contesting	Listed among direct specialty-contracting peers competing for grid/utility work, per MarketBeat July 2026

Questions people ask

Is Quanta Services profitable in 2026?: Yes. Quanta Services (NYSE: PWR) reported FY2025 revenue of $28.48 billion (up 20.3% YoY) with adjusted diluted EPS of $10.75, and Q1 2026 revenue of $7.87 billion with diluted EPS of $2.68 versus $1.78 a year earlier, per its April 30, 2026 earnings release.
Could AI replace Quanta Services' workforce?: No. Quanta's core value is physical craft labor, linemen and electricians building electric grid infrastructure, which frontier AI cannot automate within a 3-5 year horizon. AI is instead a tailwind: hyperscaler data-center buildouts are driving record $48.5 billion backlog as of Q1 2026.
Who is Quanta Services' biggest competitor?: MasTec (MTZ) is Quanta's closest direct peer in scale and end-market mix (power delivery, communications, clean energy, pipeline), per a May 22, 2026 Yahoo Finance comparison. Other named peers include MYR Group, EMCOR Group, and Dycom Industries, though the market remains fragmented.
Is Quanta Services stock overvalued?: Possibly. Morningstar cut its fair value estimate to $400 per share on July 10, 2026, citing overestimated data-center and grid tailwinds, versus a trading range of roughly $631-658 that month, with forward P/E around 54x and EV/EBITDA near 28.3x.
Who owns Quanta Services?: Quanta Services trades publicly on the NYSE under ticker PWR and has no parent company. As of July 13, 2026, roughly 90.5% of shares were institutionally owned and about 0.6% insider-owned, per MarketBeat data.
Is Quanta Services facing layoffs in 2026?: No evidence of layoffs was found. Quanta's headcount rose from 58,400 in 2024 to about 69,500 at year-end 2025, an increase partly driven by acquisitions adding roughly 11,100 employees, per the company's 2025 Annual Report filed March 31, 2026.

Timeline

2026-07-10Morningstar cuts Quanta fair value estimate to $400/share, below its ~$631-658 trading price
2026-07-09Quanta projects tech/data-center revenue growth of over 110% from 2025 to 2030
2026-06-03PSD Energy (Australia) acquisition clears ACCC Phase 1 review
2026-05-21Board authorizes new $1 billion stock repurchase program
2026-04-30Q1 2026 results: revenue $7.87B, up 26.3% YoY, diluted EPS $2.68
2026-02-19FY2025 results: revenue $28.48B, up 20.3% YoY, adjusted EPS $10.75
2025-07-31Completes $1.35 billion acquisition of Dynamic Systems (~2,400 employees)
2025-01Begins reporting under two new segments: Electric and Underground/Infrastructure

Revision history

20 July 2026

First assessed. Hard to displace. The text above is fixed as of this date and is not edited afterwards.

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