Quanta Services (PWR) reported second-quarter earnings that exceeded forecasts by $0.95 per share. Revenue for the period also topped analysts' estimates.
Earnings per share beat against forecasts
The company raised its full-year outlook, noting the ongoing boom in artificial intelligence buildout. Quanta Services attributed the improved performance to a record backlog, better visibility, and the completion of four recent acquisitions.
Following the report, PWR stock surged in early Thursday trading, ranking among the top winners in the S&P 500 before the market opened. Quanta Services is the largest electrical infrastructure construction company in the United States.