Filing Flows › Quanta Services (PWR) › Q1 2026
Quanta Services (PWR) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Quanta Services (PWR) reported revenue of $7.9B for the first quarter 2026 (Q1 2026), +26% from a year earlier and +0.4% from the quarter before. Operating margin was 4.3%, net earnings $221M (2.8% of revenue).
Quanta Services, Q1 2026: revenue $7.9B (+26% year over year), operating margin 4.3%, net earnings $221M, operating cash flow $392M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.9B | +0.4% | +26% |
| Gross profit | $1.1B | -9% | +33% |
| Operating profit | $339M | -30% | +42% |
| Net earnings | $221M | -30% | +53% |
| Operating cash flow | $392M | -65% | +61% |
| Free cash flow | $184M | — | +57% |
What changed
Revenue was $7.9B in Q1 2026, up 26% year over year and roughly flat from the previous quarter. Electric was the largest line at 82% of revenue. Electric added $1.5B year over year (up 31%), 93% of the total change.
Gross margin was 14.1%, up 0.7 points from Q1 2025. Operating profit was $0.34B, a 4.3% margin (up 0.5 points year over year). Of the extra revenue versus Q1 2025, 6% reached operating profit, above the 4% margin then. Operating expenses grew 29% against revenue growth of 26%. The fastest-growing cost line was Other operating costs (+46%). Net earnings were $0.22B, up 53% year over year. The effective tax rate was 9.7%.
Operating cash flow was $0.39B (up 61% year over year), 169% of net income including minority interests. Non-cash charges added back $0.27B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items used $0.17B. After capital expenditures, net ($0.21B), free cash flow as the company reports it was $0.18B.
Questions
What was Quanta Services' revenue in the first quarter 2026?
Quanta Services (PWR) reported revenue of $7.9B for the first quarter 2026 (Q1 2026), +26% from a year earlier and +0.4% from the quarter before.
Was Quanta Services profitable in the first quarter 2026?
Operating profit was $339M (4.3% of revenue) and net earnings $221M.
Source: Quanta Services 10-Q on SEC EDGAR.