An energy infrastructure company announced Thursday that it anticipates 2026 earnings will surpass Wall Street predictions, fueled by the artificial intelligence data center construction boom driving demand for electrical services.
Quanta Services saw its stock value climb 6% during early morning trading following the announcement.
The Texas-based contractor projects annual adjusted earnings per share will fall between $12.65 and $13.35 for the full year, beating the $12.44 per share that analysts had predicted, based on LSEG data.
“The convergence of utility, power generation, and large-load industries continues to create significant opportunities,” Quanta Services CEO Duke Austin said.
During its previous quarterly earnings presentation, the company indicated it was strategically positioned to capitalize on increasing electricity and infrastructure needs from data centers, manufacturing operations returning to the U.S., industrial expansion, electrification efforts, and power grid improvements.
The contractor – which delivers infrastructure solutions across utility, renewable energy, technology, communications, pipeline and energy sectors – is capitalizing on substantial AI data center investments from major technology companies.
For the quarter ending December 31, Quanta’s adjusted earnings climbed to $3.16 per share, up from $2.94 per share during the same period last year. Wall Street analysts had projected earnings of $3.02 per share on average.
Fourth-quarter revenue increased to $7.84 billion, compared to $6.55 billion in the previous year. Analysts had estimated revenue would reach $7.37 billion.
