Q3 FY26 · Ended Sep 30, 2026 · View SEC filing
Leaner overhead, more than project margins, lifted profit
SG&A fell 0.99 points of revenue while gross margin rose 0.78, so overhead did more than project margins.
For investorsWhat has to go right to turn the order book into profit
For foundersSelling certainty: how Quanta gets paid to carry risk
The filing credits favorable billing on large projects and an approved Canadian claim, so part of this cash is timing.
Firm project orders reached $41.75B while recurring MSA work slid to 37% of backlog, raising the stakes on execution.
The filing says complex projects pay higher margins because Quanta assumes more of the performance risk.
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Business Lens describes Quanta Services from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
