Quanta Services (NYSE: PWR) is an infrastructure services company that provides design, engineering, procurement, construction, upgrade, repair, and maintenance services for electric power, renewable energy, pipeline, communications, and industrial infrastructure. Revenue is generated on a project and service contract basis across two reportable segments: Electric Infrastructure Solutions and Underground Utility and Infrastructure Solutions, as restructured beginning Q1 FY2025. The Electric segment covers electric transmission and distribution networks, substation facilities, wind, solar, gas power generation, battery storage, and low-voltage electrical infrastructure for data centers and advanced manufacturing facilities. The Underground and Infrastructure segment covers gas utility services, pipeline integrity, transmission, downstream industrial, and communications infrastructure. Quanta operates primarily in the United States, with approximately 7.0% of revenues derived internationally in FY2025, down from 8.7% in FY2024 and 14.2% in FY2023, with activity in Canada, Australia, and select other international markets. The company holds a 50% equity interest in LUMA Energy, LLC, the operator of Puerto Rico's approximately 18,000-mile electric transmission and distribution system.

Revenue model

Project and service contracts across electric infrastructure, underground utility, pipeline, and communications end markets, with revenue earned as services are delivered on design, build, and maintenance engagements.

Products and services

Electric power transmission and distribution construction and maintenance; substation engineering and construction; wind, solar, and gas power generation infrastructure; battery storage facilities; low-voltage electrical, mechanical, plumbing, and process infrastructure for data centers and advanced manufacturing; high-voltage interconnection and transformer manufacturing; pipeline integrity testing, repair, and replacement; gas distribution modernization; downstream industrial turnaround services; fiber optic and aerial telecommunications network services; pre-apprenticeship and apprenticeship utility worker training.

Customers and end markets

Electric and gas utilities; renewable energy developers; data center and technology infrastructure operators; advanced manufacturing and semiconductor facilities; healthcare and pharmaceutical facilities; pipeline owners and operators; communications network operators; downstream industrial customers.

Value-chain role

Specialty contractor and infrastructure solutions provider sitting between project owners and end-use infrastructure; provides turnkey design, engineering, procurement, construction, and ongoing maintenance across electric, gas, pipeline, and communications networks.

Geographic exposure

Primarily United States; approximately 7.0% of revenues from international markets in FY2025 (approximately 8.7% in FY2024, approximately 14.2% in FY2023), including Canada, Australia, and Puerto Rico via the LUMA Energy joint venture.

Source: SEC 10-K, filed 2026-02-19

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