Core Insights - Quanta Services reported strong quarterly results, beating both earnings and revenue expectations, with adjusted EPS of $3.33 and revenue of $7.63 billion, leading to a 2.1% increase in stock price and a new 52-week high [1][8] Financial Performance - Revenue increased by 17.5% year over year to $7.63 billion, primarily driven by the Electric segment, which generated $6.17 billion, up from $5.23 billion the previous year [2] - Gross profit rose 34.8% to $1.22 billion, indicating improved pricing power and operational leverage [2][8] - Operating income reached $517 million, a 21.4% increase, while net income was $293.2 million, up 15.8% [8] Segment Growth - The Electric segment was the main contributor to revenue growth, reflecting strong demand and operational execution [3][4] - Management raised 2025 revenue guidance, citing accelerating momentum in the Electric segment [3] Backlog and Future Outlook - The company has a record backlog of $39.2 billion, providing revenue visibility into 2026, which is approximately five times its annual revenue [4] - This backlog is primarily driven by Electric segment work, indicating sustained demand rather than a cyclical spike [4] Strategic Moves - Quanta completed the acquisition of Dynamic Systems, enhancing its Underground and Infrastructure capabilities and broadening service offerings [5] Cash Flow and Capital Management - Operating cash flow decreased by 23.8% to $563 million, while free cash flow was reported at $438 million, attributed to working capital timing and project phasing [6] - Capital expenditures fell by 33% to $142 million, reflecting disciplined capital allocation [7] - Cash on hand decreased to $610 million from $764 million, mainly due to acquisition activities and working capital needs [7]