QUANTA SERVICES, INC.

PWR 10-Q · Q2 2025

PWR Q2 2025 request

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Income Statement

Income Statement
Metric Q2 2025 Q2 2024 YoY
Revenue 6,773,007 5,594,387 +21.1%
Show Business Segments breakouts
Electric 5,458,074 4,486,880 +21.6%
Underground and Infrastructure 1,314,933 1,107,507 +18.7%
Show Geography breakouts
AU 198,104 161,251 +22.9%
CA 238,406 220,085 +8.3%
Others 57,487 80,444 -28.5%
US 6,279,010 5,132,607 +22.3%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Integral Affiliates · Related Party 45.8 57.7 -20.6%
Show Contract With Customer Basis Of Pricing breakouts
Cost-plus contracts 1,090,409 868,226 +25.6%
Fixed Price Contract 3,948,454 3,092,460 +27.7%
Unit-price contracts 1,734,144 1,633,701 +6.1%
Cost of Revenue 5,765,433 4,783,056 +20.5%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Integral Affiliates · Related Party 129.9 100.3 +29.5%
Gross Profit 1,007,574 811,331 +24.2%
Income Loss From Equity Method Investments Integral Unconsolidated Affiliates 14,444 8,586 +68.2%
Show Business Segments breakouts
Electric 14,444 8,586 +68.2%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Integral Unconsolidated Affiliates · Related Party 14.4 8.6 +67.4%
Selling, General & Administrative -528,355 -432,356 -22.2%
Amortization Of Intangible Assets -113,178 -79,214 -42.9%
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 -10,203 -1,117 -813.4%
Operating Income 370,282 307,230 +20.5%
Interest Expense -59,579 -45,321 -31.5%
Interest Income 3,782 3,557 +6.3%
Other Non-Operating Income (Expense) 4,138 1,617 +155.9%
Income Before Taxes 318,623 267,083 +19.3%
Income Tax Expense (Benefit) 85,100 75,199 +13.2%
Net Income 233,523 191,884 +21.7%
Show Equity Components breakouts
Noncontrolling Interest 4,273 3,725 +14.7%
Parent 229,250 188,159 +21.8%
Retained Earnings 229,250 188,159 +21.8%
Net Income Loss Attributable To Noncontrolling Interest 4,273 3,725 +14.7%
Net Income 229,250 188,159 +21.8%
EPS (Basic) 1.54 1.28 +20.3%
EPS (Diluted) 1.52 1.26 +20.6%
Wtd Avg Shares (Basic) 148,448 146,580 +1.3%
Wtd Avg Shares (Diluted) 150,923 149,788 +0.8%
Comprehensive Income 303,026 179,101 +69.2%
Net Income Loss Available To Common Stockholders Basic 229,250 188,159 +21.8%

Balance Sheet

Balance Sheet
Metric Q2 2025 Q2 2024 YoY
Current Assets
Cash & Cash Equivalents 509,460 518,140 -1.7%
Show Cash And Cash Equivalents breakouts
Cash and cash equivalents held by captive insurance company 20,330 19,335 +5.1%
Cash and cash equivalents held by domestic joint ventures 38,942 82,891 -53.0%
Cash and cash equivalents held by foreign joint ventures 10,119 10,472 -3.4%
Cash and cash equivalents not held by joint ventures or captive insurance company 440,069 405,442 +8.5%
Total cash and cash equivalents held by joint ventures 49,061 93,363 -47.5%
Accounts Receivable 5,386,384 4,430,757 +21.6%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Integral Affiliates · Related Party 175.3 56.7 +209.2%
Contract With Customer Asset Net Current 1,347,057 1,227,543 +9.7%
Inventory 286,910 235,102 +22.0%
Prepaid Expenses & Other Current Assets 647,746
Total Current Assets 8,177,557 6,887,553 +18.7%
Non-Current Assets
Operating Lease Right-of-Use Assets 345,705 278,995 +23.9%
Other Non-Current Assets 884,492 597,629 +48.0%
Goodwill 5,673,791 4,314,072 +31.5%
Show Business Acquisition breakouts
Series Of Individually Immaterial Business Acquisitions 340,621
Total Assets 19,891,264 15,929,150 +24.9%
Property, Plant & Equipment (Q)
Show Geography breakouts
Non Us 186.2 199.9 -6.9%
Intangible Assets 1,921,943
Long Term Investments 434,771
Other Assets
Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization 2,884,776 2,463,914 +17.1%
Intangible Assets Net Excluding Goodwill 1,924,943 1,386,987 +38.8%
Current Liabilities
Debt Current 86,782 549,260 -84.2%
Operating Lease Liability Current 100,262 84,632 +18.5%
Accounts Payable And Accrued Liabilities Current 3,650,722 3,198,967 +14.1%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Integral Affiliates · Related Party 35.5 18.9 +87.8%
Deferred Revenue (Current) 2,139,490 1,483,134 +44.3%
Total Current Liabilities 5,977,256 5,315,993 +12.4%
Commercial Paper (Q)
Show Debt Instrument breakouts
Commercial Paper Program · Commercial Paper 600,000
Non-Current Liabilities
Operating Lease Liabilities 266,503 210,295 +26.7%
Deferred Tax Liabilities 366,002 311,940 +17.3%
Other Non-Current Liabilities 758,886
Show Loss Contingencies By Nature Of Contingency breakouts
Employer's Liability, Workers' Compensation, Auto Liability, General Liability and Group Health Care Claims 293.2
Total Liabilities 12,022,490 9,348,076 +28.6%
Long-Term Debt (Q)
Show Debt Instrument breakouts
2.35% Senior Notes due January 2032 · Senior Notes 500,000 500,000 0.0%
2.90% Senior Notes due October 2030 · Senior Notes 1,000,000 1,000,000 0.0%
3.05% Senior Notes due October 2041 · Senior Notes 500,000 500,000 0.0%
4.75% Senior Notes due August 2027 · Senior Notes 600,000
5.25% Senior Notes due August 2034 · Senior Notes 650,000
Show Long-Term Debt Type breakouts
Senior Notes 3.22 2.48 +29.8%
Other Liabilities
Long Term Debt And Capital Lease Obligations 4,653,843 2,973,520 +56.5%
Stockholders' Equity
Common Stock 2 2 0.0%
Additional Paid In Capital Common Stock 3,773,812 3,136,415 +20.3%
Retained Earnings 6,050,601 5,137,587 +17.8%
Accumulated Other Comprehensive Income -298,710 -322,743 +7.4%
Treasury Stock Common Value -1,668,103 -1,383,624 -20.6%
Total Stockholders' Equity 7,857,602 6,567,637 +19.6%
Minority Interest 11,172 13,437 -16.9%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 7,868,774 6,581,074 +19.6%
Show Equity Components breakouts
Accumulated Other Comprehensive Income -298,710 -322,743 +7.4%
Additional Paid In Capital 3,773,812 3,136,415 +20.3%
Common Stock 2 2 0.0%
Noncontrolling Interest 11,172 13,437 -16.9%
Parent 7,857,602 6,567,637 +19.6%
Retained Earnings 6,050,601 5,137,587 +17.8%
Treasury Stock Common -1,668,103 -1,383,624 -20.6%
Total Liabilities & Equity 19,891,264 15,929,150 +24.9%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q2 2025 YTD Q2 2024 YoY
Operating Activities
Depreciation 196,839 172,546 +14.1%
Income Loss From Equity Method Investments Net Of Dividends Or Distributions -4,090 8,355 -149.0%
Deferred Income Taxes -5,742 -5,366 -7.0%
Stock-Based Compensation 82,222 72,581 +13.3%
Show Consolidation Items breakouts
Corporate Non Segment 82.2 72.6 +13.2%
Show Award Type breakouts
Performance Stock Units (PSUs) to be settled in Common Stock 15.5 19.3 -19.7%
Restricted Stock Units (RSUs) to be Settled in Common Stock 66.7 53.3 +25.1%
Other Operating Activities Cash Flow Statement 14,875 -6,881 +316.2%
Increase Decrease In Accounts And Notes Receivable -69,462 -60,736 -14.4%
Increase Decrease In Contract With Customer Asset -102,935 160,845 -164.0%
Change in Inventory -25,682 -21,281 -20.7%
Change in Prepaid & Other Assets -165,060 -53,498 -208.5%
Increase Decrease In Other Accounts Payable And Accrued Liabilities 64,539 -57,189 +212.9%
Change in Deferred Revenue -32,856 -52,281 +37.2%
Increase Decrease In Other Operating Capital Net -18,971 -2,528 -650.4%
Net Cash from Operations 538,909 629,267 -14.4%
Investing Activities
Capital Expenditures -273,111 -244,595 -11.7%
Proceeds From Sale Of Property Plant And Equipment And Insurance Settlement 22,390 55,176 -59.4%
Payments To Acquire Businesses Net Of Cash Acquired -586,102 -450,798 -30.0%
Payments To Acquire Investments -148,312 -6,552 -2163.6%
Other Investing Activities 4,589 28,270 -83.8%
Net Cash from Investing -980,546 -589,260 -66.4%
Financing Activities
Proceeds From Long Term Lines Of Credit 15,909,329 6,914,679 +130.1%
Repayments Of Long Term Lines Of Credit -15,351,514 -7,621,682 -101.4%
Payment For Contingent Consideration Liability Financing Activities -102,558
Tax Withholding for Share Compensation -72,590 -77,797 +6.7%
Payments Of Dividends Common Stock -30,318 -27,006 -12.3%
Share Repurchases -134,555
Show Share Repurchase Program breakouts
2023 Repurchase Program -134.6
Proceeds From Payments For Other Financing Activities -31,047 5,508 -663.7%
Net Cash from Financing 186,747 -806,298 +123.2%
Supplemental
Interest Paid -105,759 -80,807 -30.9%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations 21,633 -7,003 +408.9%
Net Change in Cash -233,257 -773,294 +69.8%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 512,753 521,747 -1.7%

Values in thousands USD. Source: SEC EDGAR 10-Q filing.

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