Filing Flows › Quanta Services (PWR) › Q2 2026 › vs Q1 2026
Quanta Services (PWR) Q2 2026 vs Q1 2026 (quarter over quarter)
Quanta Services's revenue rose $1.7B (+21%) from $7.9B in Q1 2026 to $9.6B in Q2 2026. The biggest changes: Electric +$1.4B (+21%); Underground and Infrastructure +$313M (+22%). Gross margin 16.2% against 14.1% (+2.1 pts).
Quanta Services, Q2 2026: revenue $9.6B (+41% year over year), operating margin 7.3%, net earnings $451M, operating cash flow $1.1B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 16.2% | 14.1% | +2.1 pts |
| Operating margin | 7.3% | 4.3% | +3.0 pts |
| Net margin | 4.7% | 2.8% | +1.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Electric | $7.8B | $6.5B | $1.4B | +21% |
| Underground and Infrastructure | $1.7B | $1.4B | $313M | +22% |
| Revenue | $9.6B | $7.9B | $1.7B | +21% |
| Gross profit | $1.5B | $1.1B | $438M | +40% |
| Cost of revenue | $8.0B | $6.8B | $1.2B | +18% |
| Operating profit | $695M | $339M | $356M | +105% |
| Operating expenses | $850M | $769M | $81.8M | +11% |
| Pre-tax earnings | $617M | $256M | $361M | +141% |
| Other expense, net | $77.7M | $82.4M | −$4.8M | -6% |
| SG&A | $698M | $621M | $77.8M | +13% |
| Other operating costs | $152M | $148M | $4.0M | +3% |
| Net earnings | $451M | $221M | $231M | +105% |
| Minority interests | $8.2M | $10.8M | −$2.6M | -24% |
| Income tax | $158M | $24.9M | $133M | +532% |
| Depreciation & amortization | $274M | $266M | $8.4M | +3% |
| Share-based compensation | $63.4M | $62.6M | $745K | +1% |
| Working capital & other | $307M | −$157M | $464M | — |
| Operating cash flow | $1.1B | $392M | $704M | +180% |
Questions
How much did Quanta Services's revenue grow quarter over quarter in Q2 2026?
Quanta Services's revenue rose $1.7B (+21%) from $7.9B in Q1 2026 to $9.6B in Q2 2026.
What drove Quanta Services's revenue change in Q2 2026?
Electric +$1.4B (+21%); Underground and Infrastructure +$313M (+22%).