The following is a summary of the Quanta Services, Inc. (PWR) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Quanta Services reported Q3 2024 revenues of $6.5 billion, with net income attributable to common stock of $293.2 million or $1.95 per diluted share.

• Adjusted EBITDA was $682.8 million or 10.5% of revenues, and adjusted diluted earnings per share of $2.72.

• The company announced a record total backlog of $34 billion and generated free cash flow of $539 million.

Business Progress:

• Quanta has successfully deployed resources for power restoration efforts during Hurricanes Beryl and Helene, providing significant humanitarian and logistics support alongside their core services.

• The company is experiencing momentum across its portfolio, particularly with increased demand for power generation capacity and necessary power grid upgrades.

• Significant progress in the integration of Cupertino Electric, enhancing Quanta's solutions for the technology and data center industry.

• Quanta emphasized its strength in diverse service offerings and self-performed capabilities, important for large-scale infrastructure projects.

Opportunities:

• Quanta sits at the nexus of utility, renewable energy, and technology industries, benefiting from increased power demand due to new technologies and infrastructure, including AI and data centers.

• Federal and state policies are accelerating the energy transition and reinforcing domestic manufacturing, creating more opportunities for Quanta.

Risks:

• Operational disruptions and supply chain constraints remain a concern, particularly highlighted by ongoing supply chain challenges in transformer and breaker availability.

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