Filing Flows › Quanta Services (PWR) › How it makes money
How Quanta Services (PWR) makes money
Quanta Services (PWR) made $12.0B of revenue in the third quarter 2026 (Q3 2026), +57% from a year earlier. Electric brought in $9.8B (82%); Underground and Infrastructure brought in $2.2B (18%). Of every dollar of revenue, 17¢ was left as gross profit, 9¢ was left as operating profit, 6¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Electric | $9.8B | 81.6% | +25% | +59% |
| Underground and Infrastructure | $2.2B | 18.4% | +29% | +52% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $12.0B | 100.0% |
| Cost of revenue | $10.0B | 83.3% |
| Gross profit | $2.0B | 16.7% |
| Operating expenses | $982M | 8.2% |
| Operating profit | $1.0B | 8.5% |
| Income tax | $238M | 2.0% |
| Net earnings | $695M | 5.8% |
| Operating cash flow | $1.5B | 12.1% |
| Free cash flow | $1.2B | 10.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $12.0B | +57% |
| Q2 2026 | $9.6B | +41% |
| Q1 2026 | $7.9B | +26% |
| Q4 2025 | $7.8B | +20% |
| Q3 2025 | $7.6B | +18% |
| Q2 2025 | $6.8B | +21% |
| Q1 2025 | $6.2B | +24% |
From Quanta Services' 10-Q filed Oct 29, 2026 (on EDGAR).
Questions
How does Quanta Services make money?
Quanta Services (PWR) made $12.0B of revenue in the third quarter 2026 (Q3 2026), +57% from a year earlier. Electric brought in $9.8B (82%); Underground and Infrastructure brought in $2.2B (18%). Of every dollar of revenue, 17¢ was left as gross profit, 9¢ was left as operating profit, 6¢ was left as net earnings.
What is Quanta Services' biggest business?
Electric: $9.8B in the third quarter 2026, 82% of revenue, +59% from a year earlier.
What is Quanta Services' profit margin?
Net earnings were $695M, 5.8% of revenue, in the third quarter 2026; the operating margin was 8.5%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.