0001193125-26-324855
SEC filingQuanta二季度业绩超预期，营收净利创纪录，大幅上调全年指引。
| 指标 | 本期 | 去年同期 | 同比 |
|---|---|---|---|
| Revenue | $9,556,997 thousand | $6,773,007 thousand | +41.1% |
| Gross Profit | $1,545,178 thousand | $1,007,574 thousand | +53.4% |
| Operating Income | $694,834 thousand | $370,282 thousand | +87.7% |
| Net Income Attributable to Common Stock | $451,381 thousand | $229,250 thousand | +96.9% |
| Diluted EPS (GAAP) | $2.96 | $1.52 | +94.7% |
| Adjusted Diluted EPS (Non-GAAP) | $4.24 | $2.48 | +71.0% |
| Adjusted EBITDA (Non-GAAP) | $1,066,522 thousand | $668,762 thousand | +59.5% |
| Operating Cash Flow | $1,095,444 thousand | $295,711 thousand | +270.5% |
| Free Cash Flow (Non-GAAP) | $885,968 thousand | $170,436 thousand | +419.8% |
| Backlog (Non-GAAP) | $53,440,496 thousand | $35,844,535 thousand | +49.1% |
| 期间 | 指标 | 指引 | 口径 |
|---|---|---|---|
| FY2026 | Revenue | $39.3B - $39.7B | N/A |
| FY2026 | Net Income Attributable to Common Stock | $1.74B - $1.82B | GAAP |
| FY2026 | Diluted EPS | $11.41 - $11.92 | GAAP |
| FY2026 | Adjusted Diluted EPS | $16.45 - $16.95 | Non-GAAP |
| FY2026 | EBITDA | $3.74B - $3.86B | Non-GAAP |
| FY2026 | Adjusted EBITDA | $4.09B - $4.21B | Non-GAAP |
| FY2026 | Net Cash Provided by Operating Activities | $2.90B - $3.40B | GAAP |
| FY2026 | Free Cash Flow | $2.00B - $2.50B | Non-GAAP |
简评
Quanta Services二季度业绩全面超预期并创多项纪录。营收$9.56B同比大增41%，主要由Electric分部驱动（营收$7.84B，同比+44%），该分部运营利润率从10.1%提升至11.5%。调整后EBITDA $1.07B同比+59%，调整后EPS $4.24同比+71%，显示强劲的经营杠杆和利润率扩张。经营现金流$1.10B和自由现金流$0.89B均创Q2纪录，现金生成能力显著增强。管理层表示业绩"meaningfully exceeded expectations"，反映了运营模式的"compounding strength and momentum"。
公司大幅上调2026全年指引，营收预期从$39.3B-$39.7B，调整后EPS预期$16.45-$16.95，调整后EBITDA预期$4.09B-$4.21B，经营现金流预期$2.90B-$3.40B。上调动力来自上半年超预期表现、下半年可见度提升以及近期收购的贡献。Q2及7月完成四项收购（Phalcon、Enerfab、Percheron、PSD），预计全年合计贡献营收$1.2B-$1.4B和调整后EBITDA $120M-$140M，总对价约$1.24B。此外，董事会授权新的$1B回购计划，并宣布季度股息$0.11/股，Moody's上调评级至Baa2，资本回报和信用状况均获改善。