Short answer
Quanta Services (PWR) filed its Q3 2025 10-Q quarterly report on Oct 30, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $7.6B (up 17.5% year over year) with net income of $339M.
Q3 2025 key financials · XBRL
- Revenue
- $7.6B
- +17.5% YoY · +12.7% QoQ
- Net income
- $339M
- +15.8% YoY · +48.1% QoQ
- Operating margin
- 6.8%
- Gross margin
- 15.9%
- EPS (diluted)
- $2.25
- +15.4% YoY · +49.0% QoQ
Source: XBRL data from the Quanta Services (PWR) Q3 2025 10-Q on SEC EDGAR. USD.
Quanta Services Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Financing proceeds $1.49B from senior notes issued Aug 2025, used to repay borrowings from Dynamic Systems acquisition
- Nine months ended Sep 30, 2025: $51.2M net repayments under senior credit and commercial paper programs
- Nine months ended Sep 30, 2025: $134.6M common stock repurchases, $45.4M dividends paid
- Prior-year nine months Sep 30, 2024: $1.24B senior notes proceeds repaid borrowings for CEI acquisition
- Cash used for debt repayments, dividends, stock repurchases expected to continue
Risk Factors
- No newly added risk factors this quarter; risk disclosures remain consistent with 2024 Annual Report
- Updated risk: seasonality impact detailed with Canadian projects higher in Q1 due to frozen ground conditions vs U.S. winter lows
- Regulatory risk: increased project delays, protests, and legal challenges linked to environmental restrictions and political activism affecting project schedules
- Operational risk: project variability in margins amplified by fixed price contracts with greater performance risk and complexity on larger projects
- Market risk: demand fluctuations tied to customers’ capital spending, renewable energy tax credits, and tariffs affecting volume of work assigned
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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