Record High Order Backlog Behind CEO's $100 Million Stake Sale

On April 30, Quanta Services, Inc. (NYSE: PWR) reported record first-quarter 2026 results, delivering revenue of approximately $7.9 billion (about KRW 11 trillion) and net income of $220 million. The company also raised its full-year 2026 guidance for revenue, earnings and EBITDA.

In the same release, Quanta Services disclosed $26.2 billion in remaining performance obligations and a total backlog of $48.5 billion. Backed by strong cash flow, management set a medium- to long-term target to more than double adjusted EPS by 2030.

In early May, the company filed that its Chief Accounting Officer and CEO sold equity stakes valued at roughly $3 million (KRW 4 billion) and $120 million (KRW 170 billion), respectively, on the open market. Both executives continue to hold hundreds of thousands of shares following those transactions.

Following the earnings announcement, investment platforms and financial media have underscored Quanta’s record backlog and raised guidance, publishing analyses on whether the stock’s recent surge and premium valuation are warranted.

Brokerages including TD Cowen have raised price targets after the first-quarter earnings surprise, highlighting sustained interest in infrastructure-investment beneficiaries.

Founded in 1998 and listed on the New York Stock Exchange, Quanta Services is a specialized infrastructure contractor providing power-grid, renewable-energy, communications, pipeline and energy-infrastructure construction and maintenance services across North America.

With U.S. utilities and energy companies ramping up spending on aging power-grid replacements, the energy transition and the expansion of data centers and communications networks, medium- to long-term demand for engineering and contracting services continues to grow.