Filing Flows › Quanta Services (PWR) › Q1 2025
Quanta Services (PWR) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Quanta Services (PWR) reported revenue of $6.2B for the first quarter 2025 (Q1 2025), +24% from a year earlier and -5% from the quarter before. Operating margin was 3.8%, net earnings $144M (2.3% of revenue).
Quanta Services, Q1 2025: revenue $6.2B (+24% year over year), operating margin 3.8%, net earnings $144M, operating cash flow $243M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.2B | -5% | +24% |
| Gross profit | $834M | -22% | +34% |
| Operating profit | $239M | -47% | +54% |
| Net earnings | $144M | -53% | +22% |
| Operating cash flow | $243M | -66% | +2% |
| Free cash flow | $118M | — | -35% |
What changed
Revenue was $6.2B in Q1 2025, up 24% year over year and down 5% from the previous quarter. Electric was the largest line at 79% of revenue. Electric added $1.0B year over year (up 26%), 86% of the total change.
Gross margin was 13.4%, up 1.0 points from a year earlier. Operating profit was $0.24B, a 3.8% margin (up 0.7 points year over year). Of the extra revenue versus a year earlier, 7% reached operating profit, above the 3% margin then. Operating expenses grew 27% against revenue growth of 24%. The fastest-growing cost line was Other operating costs (+53%). Net earnings were $0.14B, up 22% year over year. The effective tax rate was 21.1%.
Operating cash flow was $0.24B (up 2% year over year), 163% of net income including minority interests. Non-cash charges added back $0.21B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items used $0.15B. After capital expenditures, net ($0.13B), free cash flow as the company reports it was $0.12B.
Questions
What was Quanta Services' revenue in the first quarter 2025?
Quanta Services (PWR) reported revenue of $6.2B for the first quarter 2025 (Q1 2025), +24% from a year earlier and -5% from the quarter before.
Was Quanta Services profitable in the first quarter 2025?
Operating profit was $239M (3.8% of revenue) and net earnings $144M.
Source: Quanta Services 10-Q on SEC EDGAR.