| Metric [Unit: Thousand USD] | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2023 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2022 |
|-----------------------------|---------|---------|---------|---------|---------|---------|---------|---------|
| United States               | **4,569,716**  **[0001050915-24-000082_pwr-20240331.htm:12]**  | **5,132,607**  **[0001050915-24-000140_pwr-20240630.htm:12]**  | **5,871,453**  **[0001050915-24-000159_pwr-20240930.htm:13]**  | N/A     | **3,666,365**  **[0001050915-23-000080_pwr-20230331.htm:11]**  | N/A     | **4,816,825**  **[0001050915-23-000164_pwr-20230930.htm:12]**  | N/A     |
| Canada                      | **229,427**  **[0001050915-24-000082_pwr-20240331.htm:12]**    | **220,085**  **[0001050915-24-000140_pwr-20240630.htm:12]**    | **329,066**  **[0001050915-24-000159_pwr-20240930.htm:13]**    | N/A     | **542,360**  **[0001050915-23-000080_pwr-20230331.htm:11]**    | N/A     | **574,536**  **[0001050915-23-000164_pwr-20230930.htm:12]**    | N/A     |
| Australia                   | **146,029**  **[0001050915-24-000082_pwr-20240331.htm:12]**    | **161,251**  **[0001050915-24-000140_pwr-20240630.htm:12]**    | **195,815**  **[0001050915-24-000159_pwr-20240930.htm:13]**    | N/A     | **154,677**  **[0001050915-23-000080_pwr-20230331.htm:11]**    | N/A     | **148,499**  **[0001050915-23-000164_pwr-20230930.htm:12]**    | N/A     |
| Others                      | **86,647**  **[0001050915-24-000082_pwr-20240331.htm:12]**     | **80,444**  **[0001050915-24-000140_pwr-20240630.htm:12]**     | **96,833**  **[0001050915-24-000159_pwr-20240930.htm:13]**     | N/A     | **65,424**  **[0001050915-23-000080_pwr-20230331.htm:11]**     | N/A     | **80,962**  **[0001050915-23-000164_pwr-20230930.htm:12]**     | N/A     |
| Total Revenue               | **5,031,819**  **[0001050915-24-000082_pwr-20240331.htm:12]**  | **5,594,387**  **[0001050915-24-000140_pwr-20240630.htm:12]**  | **6,493,167**  **[0001050915-24-000159_pwr-20240930.htm:13]**  | N/A     | **4,428,826**  **[0001050915-23-000080_pwr-20230331.htm:11]**  | N/A     | **5,620,822**  **[0001050915-23-000164_pwr-20230930.htm:12]**  | N/A     |

47593a00dc8fb134432a8f163a87e21f0f721dfd6d3ae188140a392cd31e6f99

a7b7adaefae55bde6f4cdf3cedd8444d4d40ebc83a5058e91f43c2b66702a373

28b0f431bcc7056c29ba167f209a9763e21ad79e06bf89d16ecbebbd40e682e6

Adjustments for Non-Cash Items [USD, Thousands]

Stock-Based Compensation [USD, Thousands]

Changes in Working Capital [USD, Thousands]

Capital Expenditures (CapEx) [USD, Thousands]

Proceeds from / Repayments of Debt [USD, Thousands]

Share Repurchases [USD, Thousands]

Dividend Payments [USD, Thousands]

Net Change in Cash [USD, Thousands]

4c7337e4d07b4d760260792a5b79ec1dbb2e3b35d15061a22b474954f03180ec

MSAs in 12-month backlog

Estimated orders 12-month

b096958c69eeec76dc954dc94b26a8e80fa7419a47c8fefc221567933a95ab6a

Quanta Services, Inc. is a leading provider of comprehensive infrastructure solutions across various industries, including electric and gas utilities, renewable energy, communications, pipeline, and energy sectors in the United States, Canada, Australia, and select other international markets **[0001050915-24-000009_pwr-20231231.htm:4]** **[0001050915-24-000009_pwr-20231231.htm:75]** **[0001050915-24-000009_pwr-20231231.htm:5]**. The company operates through three main segments, offering services such as design, procurement, construction, upgrade, repair, and maintenance for electric power transmission and distribution infrastructure, renewable generation and infrastructure, and gas distribution and downstream industrial services **[0001050915-24-000009_pwr-20231231.htm:4]** **[0001050915-24-000009_pwr-20231231.htm:75]** **[0001050915-24-000009_pwr-20231231.htm:5]**. Quanta Services has experienced increased demand across all segments, achieving record annual revenues in 2023 **[0001193125-24-093877_d641374ddef14a.htm:44]** **[0001193125-24-084850_d641374dpre14a.htm:44]**.

1. **Electric Power Infrastructure Solutions** - Offers services including design, procurement, construction, upgrade, repair, and maintenance for electric power transmission and distribution infrastructure, as well as emergency restoration services and installation of smart grid technologies.
2. **Renewable Energy Infrastructure Solutions** - Focuses on services related to renewable generation and infrastructure, driven by the transition to a reduced-carbon economy.
3. **Underground Utility and Infrastructure Solutions** - Provides services for gas distribution and downstream industrial services, with a focus on utility spending and modernization programs.

26c8f4af8431d46b032a43f9a9c3569079cba1e65df254c465a90fca9a830e58

| Metric [USD millions] | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 |
|-----------------------|---------|---------|---------|---------|---------|---------|---------|---------|
| **Electric Power Infrastructure Solutions** | **2,319.8**  **[0001193125-23-045600_d440666dex991.htm:13]**  | **2,336.0**  **[0001050915-23-000080_pwr-20230331.htm:46]** **[0001050915-23-000080_pwr-20230331.htm:16]**  | **2,400.0**  **[PWR_3383387_3]**  | **2,489.5**  **[0001050915-23-000164_pwr-20230930.htm:58]**  | **2,456.1**  **[0001193125-24-042070_d743849dex991.htm:10]**  | **2,327.0**  **[0001050915-24-000082_pwr-20240331.htm:49]** **[0001050915-24-000082_pwr-20240331.htm:18]**  | **2,452.5**  **[0001050915-24-000140_pwr-20240630.htm:57]**  | **2,982.0**  **[0001050915-24-000159_pwr-20240930.htm:62]**  |
| **Renewable Energy Infrastructure Solutions** | **999.9**  **[0001193125-23-045600_d440666dex991.htm:13]**  | **1,008.3**  **[0001050915-23-000080_pwr-20230331.htm:46]** **[0001050915-23-000080_pwr-20230331.htm:16]**  | **1,400.0**  **[PWR_3383387_3]**  | **1,746.6**  **[0001050915-23-000164_pwr-20230930.htm:58]**  | **2,026.0**  **[0001193125-24-042070_d743849dex991.htm:10]**  | **1,584.2**  **[0001050915-24-000082_pwr-20240331.htm:49]** **[0001050915-24-000082_pwr-20240331.htm:18]**  | **2,034.4**  **[0001050915-24-000140_pwr-20240630.htm:57]**  | **2,251.9**  **[0001050915-24-000159_pwr-20240930.htm:62]**  |
| **Underground Utility and Infrastructure Solutions** | **1,096.9**  **[0001193125-23-045600_d440666dex991.htm:13]**  | **1,084.5**  **[0001050915-23-000080_pwr-20230331.htm:46]** **[0001050915-23-000080_pwr-20230331.htm:16]**  | **1,200.0**  **[PWR_3383387_3]**  | **1,384.6**  **[0001050915-23-000164_pwr-20230930.htm:58]**  | **1,301.9**  **[0001193125-24-042070_d743849dex991.htm:10]**  | **1,120.7**  **[0001050915-24-000082_pwr-20240331.htm:49]** **[0001050915-24-000082_pwr-20240331.htm:18]**  | **1,107.5**  **[0001050915-24-000140_pwr-20240630.htm:57]**  | **1,259.3**  **[0001050915-24-000159_pwr-20240930.htm:62]**  |
| **Total Revenues** | **4,416.6**  **[0001193125-23-045600_d440666dex991.htm:13]**  | **4,428.8**  **[0001050915-23-000080_pwr-20230331.htm:46]** **[0001050915-23-000080_pwr-20230331.htm:16]**  | **N/A** | **5,620.8**  **[0001050915-23-000164_pwr-20230930.htm:58]**  | **5,783.9**  **[0001193125-24-042070_d743849dex991.htm:10]**  | **5,031.8**  **[0001050915-24-000082_pwr-20240331.htm:49]** **[0001050915-24-000082_pwr-20240331.htm:18]**  | **5,594.4**  **[0001050915-24-000140_pwr-20240630.htm:57]**  | **6,493.2**  **[0001050915-24-000159_pwr-20240930.htm:62]**  |

5a260f8642ed7a9e39f14a1ecd33741ae0ff536b7983d0cf72d74f8369963bc5

1. Given that utility CapEx budgets were under 50% in the first half and you've previously discussed a shift between transmission and distribution spending, can you explain whether you expect a ramp back in distribution spending in the second half, or are you still anticipating ongoing weaknesses in this area?
2. With the significant revenue ramp implied in your second-half guidance for the electric business, even excluding the recent acquisition of Cupertino Electric, can you help us understand the specific drivers behind this expected growth and how confident are you in achieving it?
3. Regarding your renewable energy segment, while margins were strong this quarter, you mentioned ongoing drag from certain projects identified previously; can you quantify the impact these projects had on the current quarter's margins and explain how margins would have looked excluding this drag?
4. Considering trade uncertainties and the upcoming election, have you observed any impact on customer behavior in the renewable energy space, such as delays or pullbacks in project commitments, and how are you mitigating potential risks associated with these factors?
5. As your company continues to grow, some investors are concerned about the challenges of sustaining organic growth due to your large size; do you anticipate relying more on M&A for future growth, and how do you address the potential shift in your growth strategy towards acquisitions over organic expansion?

be1c2265ee01a9f46ca365deaa959804308c4103f150d06f85f2cc5171da91ee

### Q3 2024 Earnings Call
   - **Issued Period**: Q3 2024
   - **Guided Period**: N/A
   - **Guidance**: The documents do not provide specific guidance from the Q3 2024 earnings call for Quanta Services. Therefore, the metrics guided for in this period are not available.

### Q2 2024 Earnings Call
   - **Issued Period**: Q2 2024
   - **Guided Period**: FY 2024
   - **Guidance**:
     - **Revenues**: Expectation for record revenues, with an increase in guidance due to the acquisition of Cupertino Electric (CEI)  **[PWR_3395648_2]** .
     - **Adjusted EBITDA**: Anticipated double-digit growth  **[PWR_3395648_2]** .
     - **Adjusted Diluted Earnings Per Share**: Guidance increased due to CEI's expected contribution  **[PWR_3395648_2]** .
     - **Free Cash Flow**: Expectation for double-digit growth  **[PWR_3395648_2]** .

### Q1 2024 Earnings Call
   - **Issued Period**: Q1 2024
   - **Guided Period**: FY 2024
   - **Guidance**:
     - **Record Revenues**: Expectation for record revenues  **[PWR_3382090_2]** .
     - **Double-Digit Growth**: Anticipated in adjusted EBITDA, adjusted earnings per share, and free cash flow  **[PWR_3382090_2]** .

### Q4 2023 Earnings Call
   - **Issued Period**: Q4 2023
   - **Guided Period**: FY 2024
   - **Guidance**:
     - **Record Revenues**: Expectation for another year of profitable growth  **[PWR_3374534_2]** .
     - **Improved Margins**: Anticipated  **[PWR_3374534_2]** .
     - **Double-Digit Growth**: Expected in adjusted EBITDA, adjusted earnings per share, and free cash flow  **[PWR_3374534_2]** .
     - **Free Cash Flow Conversion**: Range of 45% to 55%  **[PWR_3374534_14]** .
     - **Renewables Segment Growth**: Expected double-digit growth  **[PWR_3374534_9]** .
     - **Electric Power Margins**: Anticipated operating margins around 10% to 10.5%  **[PWR_3374534_3]** .

657c284e949cc362b57e5a5490151c418832f6b62f24981646cd5630e1dda17a

Electric Power

Renewable Energy

Underground and Infrastructure

Electric Power Infrastructure Solutions

Electric Power Infrastructure Services

Renewable Energy Infrastructure Solutions

Underground Utility and Infrastructure Solutions

Oil and Gas Infrastructure Services

Pipeline and Industrial Infrastructure Services

- Fiber Optic Licensing and Other

Total Revenue

efa079fe2f18f51e7d716ceb7c43babe97a711754438cca66e5440adefe377ae

- AECOM
- Dycom Industries, Inc.
- EMCOR Group Inc.
- Fluor Corporation
- Jacobs Solutions Inc.
- KBR, Inc.
- MasTec, Inc.
- MYR Group Inc.
- Primoris Services Corporation

These companies are included in a peer group selected by Quanta Services' management to represent a broad group of publicly held corporations with operations similar to theirs  **[0001050915-24-000009_pwr-20231231.htm:73]** .

2645642d5dbaa50637a61a90674e3231c71e97a60f6bc85fe490dccde4fc2acb

23794d91c53ae875c8e247d72561e35d9d06ee07c70c9e0dbcc977a6d161504a

United States

Canada

Australia

Latin America and Other

Others

Foreign

39e279d3d74619cdb738cd1418efeee7cd2eff5ccb8b60295e822452c193b811

| Name                  | Position                                      | Start Date  | Short Bio                                                                                                                                                                                                                                                                                                                                 |
|-----------------------|-----------------------------------------------|-------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Earl C. (Duke) Austin, Jr. | President, Chief Executive Officer, and Director | March 2016  | Earl C. (Duke) Austin, Jr. has been a member of the Board and has served as President and Chief Executive Officer of Quanta Services, Inc. since March 2016. He previously held the position of Chief Operating Officer from January 2013 until January 2022  **[0001193125-24-084850_d641374dpre14a.htm:8]** **[0001193125-24-093877_d641374ddef14a.htm:8]** **[0001193125-24-084850_d641374dpre14a.htm:39]** **[0001193125-24-093877_d641374ddef14a.htm:39]** .                                                                 |
| Jayshree S. Desai     | Chief Financial Officer                       | July 2022   | Jayshree S. Desai has served as the Chief Financial Officer of Quanta Services, Inc. since July 2022. Prior to this role, she was the Chief Corporate Development Officer from January 2020 to July 2022  **[0001193125-24-084850_d641374dpre14a.htm:39]** **[0001193125-24-093877_d641374ddef14a.htm:39]** .                                                                                                                        |
| J. Redgie Probst      | Chief Operating Officer                       | January 2022| J. Redgie Probst has served as the Chief Operating Officer of Quanta since January 2022. Prior to this role, he was the President of the Electric Power Division from March 2019 to January 2022  **[0001193125-24-084850_d641374dpre14a.htm:39]** **[0001193125-24-093877_d641374ddef14a.htm:39]** **[0001193125-23-099832_d458724ddef14a.htm:36]** .                                                                                                                             |
| Gerald A. (BJ) Ducey, Jr. | President – Strategic Operations             | May 23, 2023| Gerald A. (BJ) Ducey, Jr. has served as the President – Strategic Operations at Quanta since May 23, 2023. Prior to this role, he was the Senior Vice President – Operations from May 2017 to May 2023  **[0001193125-24-084850_d641374dpre14a.htm:39]** **[0001193125-24-093877_d641374ddef14a.htm:39]** **[0001193125-24-093877_d641374ddef14a.htm:42]** **[0001193125-24-084850_d641374dpre14a.htm:42]** .                                                                                                                     |
| Derrick A. Jensen     | Executive Vice President – Business Administration | July 2022   | Derrick A. Jensen has served as the Executive Vice President – Business Administration at Quanta Services, Inc. since July 2022. Prior to this role, he was the Chief Financial Officer from May 2012 to July 2022  **[0001193125-24-093877_d641374ddef14a.htm:40]** **[0001193125-24-084850_d641374dpre14a.htm:40]** **[0001193125-24-093877_d641374ddef14a.htm:39]** **[0001193125-23-099832_d458724ddef14a.htm:36]** .                                                                                                         |
| Donald C. Wayne       | Executive Vice President and General Counsel  | May 2017    | Donald C. Wayne has served as the Executive Vice President and General Counsel of Quanta Services, Inc. since May 2017. Before joining Quanta, he held various senior roles at Archrock, Inc. from November 2015 through May 2017  **[0001193125-24-084850_d641374dpre14a.htm:40]** **[0001193125-23-099832_d458724ddef14a.htm:37]** **[0001193125-24-093877_d641374ddef14a.htm:41]** .                                                                                             |
| Paul M. Nobel         | Senior Vice President and Chief Accounting Officer | May 2023    | Paul M. Nobel has served as the Senior Vice President and Chief Accounting Officer at Quanta Services, Inc. since May 2023. Prior to this role, he was the Vice President and Chief Accounting Officer from May 2021 to May 2023  **[0001193125-24-093877_d641374ddef14a.htm:41]** **[0001193125-24-084850_d641374dpre14a.htm:41]** **[0001193125-24-093877_d641374ddef14a.htm:39]** **[0001193125-23-099832_d458724ddef14a.htm:38]** .                                                                                         |
| Dorothy C. Upperman   | Vice President – Tax                          | October 2014| Dorothy C. Upperman has served as the Vice President – Tax at Quanta since October 2014. Before joining Quanta, she held various tax management roles at Wal-Mart Stores, Inc.  **[0001193125-24-093877_d641374ddef14a.htm:41]** **[0001193125-24-084850_d641374dpre14a.htm:41]** .                                                                                                                                                 |

54871c709637d18ba6ea430cc05aa7e14949227ebec1b527f1a34a323b2b5829

| Program Details         | Program 1       |
|-------------------------|-----------------|
| Approval Date           | May 23, 2023  **[0001050915-24-000159_pwr-20240930.htm:82]** **[0001050915-24-000159_pwr-20240930.htm:38]**  |
| End Date/Duration       | June 30, 2026  **[0001050915-24-000159_pwr-20240930.htm:82]** **[0001050915-24-000159_pwr-20240930.htm:38]**  |
| Total additional amount | $500 million  **[0001050915-24-000159_pwr-20240930.htm:82]** **[0001050915-24-000159_pwr-20240930.htm:38]**  |
| Remaining authorization | $499.7 million  **[0001050915-24-000159_pwr-20240930.htm:82]** **[0001050915-24-000159_pwr-20240930.htm:38]**  |
| Details                 | Provides flexibility to manage capital structure, return value to shareholders, and potentially improve earnings per share. Repurchases can be made in open market and privately negotiated transactions.  **[0001050915-23-000164_pwr-20230930.htm:31]** **[0001050915-24-000159_pwr-20240930.htm:38]** **[0001050915-23-000150_pwr-20230630.htm:27]**  |

b28c7f767757cd143b32d98db66a1f8e31f99d9d99168ebc18d8c8a7cf3b26c7

**Annual guidance for FY 2024:**
- **Revenues**: Record revenues  **[PWR_3405029_3]**  (no change from record revenues  **[PWR_3395648_2]** )  
- **Adjusted EBITDA**: Double-digit growth  **[PWR_3405029_3]**  (no change from double-digit growth  **[PWR_3395648_2]** )  
- **Adjusted EPS**: Approximately 20% growth at midpoint  **[PWR_3405029_2]**  (no prior numeric guidance from prior “guidance increased”  **[PWR_3395648_2]** )  
- **Free Cash Flow**: Record levels  **[PWR_3405029_2]**  (no prior numeric guidance from prior “double-digit growth”  **[PWR_3395648_2]** )  
- **Leverage profile**: Below 2x by year-end  **[PWR_3405029_2]**  (no prior guidance)  
- **Liquidity**: Over $3 billion projected by year-end  **[PWR_3405029_2]**  (no prior guidance)  
- **Renewables segment margins**: 9% to 10%  **[PWR_3405029_6]**  (no prior guidance)  
- **Cupertino Electric revenue**: High end of $1 billion to $1.1 billion  **[PWR_3405029_6]**  (no prior guidance)  

d3bc5d6cc9a259ee0211df530164d5342787cc022960a2fe33e97a37e8de7869

| Name                          | Start Date | End Date | Reason for Change |
|-------------------------------|------------|----------|-------------------|
| PricewaterhouseCoopers LLP    | 2002  **[0001050915-24-000009_pwr-20231231.htm:111]**  | Present  | Current auditor   |

46e9e48cb809a093356c34d995c24b15ca11d951586d5e088e9ebcad1749ae60

Remaining performance obligations for Electric Power (USD thousands)

Estimated orders under MSAs and short-term, non-fixed price contracts for Electric Power (USD thousands)

Backlog for Electric Power (USD thousands)

Remaining performance obligations for Renewable Energy (USD thousands)

Estimated orders under MSAs and short-term, non-fixed price contracts for Renewable Energy (USD thousands)

Backlog for Renewable Energy (USD thousands)

Remaining performance obligations for Underground and Infrastructure (USD thousands)

Estimated orders under MSAs and short-term, non-fixed price contracts for Underground and Infrastructure (USD thousands)

Backlog for Underground and Infrastructure (USD thousands)

Remaining performance obligations for Total (USD thousands)

Estimated orders under MSAs and short-term, non-fixed price contracts for Total (USD thousands)

Backlog for Total (USD thousands)

a3fad20e16ba6233b2f0b8667156ced3bf9cfe3ab97cfabeab0e1a7a41b9a63a

8cf82e648c2fce899fc5b1515745982cea879418901143365f3e933224e46bd7

- Total Revenue: $6,493.2 million (+16% YoY)  **[0001050915-23-000164_pwr-20230930.htm:20]** **[0001050915-24-000159_pwr-20240930.htm:22]**   
- Electric Power: $2,982.0 million (+20% YoY)  **[0001050915-23-000164_pwr-20230930.htm:20]** **[0001050915-24-000159_pwr-20240930.htm:22]**   
- Renewable Energy: $2,251.9 million (‍**+29% YoY**)  **[0001050915-23-000164_pwr-20230930.htm:20]** **[0001050915-24-000159_pwr-20240930.htm:22]**   
- Underground and Infrastructure: $1,259.3 million (-9% YoY)  **[0001050915-23-000164_pwr-20230930.htm:20]** **[0001050915-24-000159_pwr-20240930.htm:22]**   
- United States: $5,871.5 million (+22% YoY)  **[0001050915-23-000164_pwr-20230930.htm:12]** **[0001050915-24-000159_pwr-20240930.htm:13]**   
- Canada: $329.1 million (‍**-43% YoY**)  **[0001050915-23-000164_pwr-20230930.htm:12]** **[0001050915-24-000159_pwr-20240930.htm:13]**   
- Australia: $195.8 million (+32% YoY)  **[0001050915-23-000164_pwr-20230930.htm:12]** **[0001050915-24-000159_pwr-20240930.htm:13]**   
- Net Income: $299.0 million (+10% YoY)  **[0001050915-23-000164_pwr-20230930.htm:7]** **[0001050915-24-000159_pwr-20240930.htm:7]**   
- Diluted EPS: $1.95 (+7% YoY)  **[0001050915-23-000164_pwr-20230930.htm:7]** **[0001050915-24-000159_pwr-20240930.htm:7]**   

1b73b916030ba1429355ea2ccd38a35c9b571c0e3d4a3b8f32db6bf3bda91137

ae1fb8367fcf00fd48b36e63ee6927278b415c044ab38ec02dd56716592f7e14

| Year | Amount Due (Millions) | Debt Type               | Interest Rate (%) | % of Total Debt                                                                 |
|----------|---------------------------|-----------------------------|-----------------------|------------------------------------------------------------------------------------|
| 2024     | 500.0                     | 0.950% Senior Notes         | 0.950                | 10.7% = (500.0 / 4,688.1) * 100 **[0001050915-24-000159_pwr-20240930.htm:31]** **[0001050915-24-000159_pwr-20240930.htm:32]**                                   |
| 2024     | 556.2                     | Current Maturities of LT Debt | Variable             | 11.9% = (556.2 / 4,688.1) * 100 **[0001050915-24-000159_pwr-20240930.htm:31]** **[0001050915-24-000159_pwr-20240930.htm:6]**                                   |
| 2027     | 600.0                     | 4.750% Senior Notes         | 4.750                | 12.8% = (600.0 / 4,688.1) * 100 **[0001050915-24-000159_pwr-20240930.htm:31]**                                           |
| 2030     | 1,000.0                   | 2.900% Senior Notes         | 2.900                | 21.3% = (1,000.0 / 4,688.1) * 100 **[0001050915-24-000159_pwr-20240930.htm:31]**                                         |
| 2032     | 500.0                     | 2.350% Senior Notes         | 2.350                | 10.7% = (500.0 / 4,688.1) * 100 **[0001050915-24-000159_pwr-20240930.htm:31]**                                           |
| 2034     | 650.0                     | 5.250% Senior Notes         | 5.250                | 13.9% = (650.0 / 4,688.1) * 100 **[0001050915-24-000159_pwr-20240930.htm:31]**                                           |
| 2041     | 500.0                     | 3.050% Senior Notes         | 3.050                | 10.7% = (500.0 / 4,688.1) * 100 **[0001050915-24-000159_pwr-20240930.htm:31]**                                           |

c73b5370c83dcc7073c61be4e26f52a19390323edd9e4992004c5ae00173b610

d97167f9cd7f06fe28f8c6bf05af65fcf4f020f77390a6acf70230144b1bbdb2

- **Pressure in the Canadian market may impact margins and earnings in the first half of 2024**.  **[PWR_3374534_18]** **[PWR_3374534_3]**  Management acknowledged "a little bit of Canadian pressure in the first half of the year"  **[PWR_3374534_18]**  and mentioned the need to "get through some things" regarding margins in the Electric Power segment.  **[PWR_3374534_3]**
- **The Underground segment revenue is expected to decline compared to previous years**.  **[PWR_3374534_13]**  Management indicated guidance of **$500 million to $600 million** for the Underground business for 2024 and beyond, down from **$1 billion plus** last year, due to regulatory challenges and difficulties in building large diameter pipelines.  **[PWR_3374534_13]**
- **Growth in the Renewable segment might be slower than anticipated in 2024**.  **[PWR_3374534_9]** **[PWR_3374534_17]**  Management noted that wind projects, which could drive growth, may not contribute significantly until **2025 or 2026**, stating "I don't think it's going to be any like large windfall in '24"  **[PWR_3374534_9]** , and there is "some pressure" in the Renewable business.  **[PWR_3374534_17]**

2c8026cd44e51df06aff94285cd42e164c11f359f5c401af40b1cc9040016619

1. **Renewable Margins and Outlook**  
   **Q:** Why did renewable margins fall short, and what's the outlook?  
   **A:** Renewable margins were impacted by underperforming projects, about **5%** of the portfolio.  **[PWR_3382090_3]**  The majority of projects are exceeding expectations, and backlog is accelerating.  **[PWR_3382090_3]**  We expect margins to improve to **double digits** in the back half as projects progress and contingencies are released.  **[PWR_3382090_11]** 

2. **Impact of AI and Data Centers on Load Growth**  
   **Q:** How does AI and data centers affect grid load growth and Quanta?  
   **A:** The demand from AI and data centers has surged unexpectedly, with one customer requesting **100 gigawatts**.  **[PWR_3382090_3]**  This increased load benefits our T&D and renewables businesses.  **[PWR_3382090_3]** **[PWR_3382090_8]**  We are engaging with hyperscalers and are well-positioned to meet this demand.  **[PWR_3382090_3]** **[PWR_3382090_8]** 

3. **Electric Power Segment Margin Strength**  
   **Q:** What's driving higher margins in electric power despite lower revenue?  
   **A:** Despite slightly lower revenue, our electric power segment achieved **double-digit margins** through efficient operations.  **[PWR_3382090_4]**  By focusing on EPS and margins, we demonstrated strong performance regardless of revenue levels.  **[PWR_3382090_4]** 

4. **Distribution vs Transmission CapEx Shift**  
   **Q:** Are utilities shifting CapEx from distribution to transmission?  
   **A:** Some utilities are reallocating capital from distribution to transmission due to increased demand from data centers.  **[PWR_3382090_5]** **[PWR_3382090_21]**  While this softens distribution spending in certain areas, we are nimble and can adjust resources to capitalize on transmission opportunities.  **[PWR_3382090_5]** **[PWR_3382090_21]** 

5. **M&A Activities and Strategy**  
   **Q:** Can you discuss recent M&A activities and their strategic fit?  
   **A:** We acquired **Sherman+Reilly**, enhancing our equipment capabilities in blocks and pullers.  **[PWR_3382090_6]**  We also divested an international oil and gas business.  **[PWR_3382090_6]**  Net inorganic revenue contribution remains around **$500–$600 million**, with EPS contribution of **$0.15 to $0.20**.  **[PWR_3382090_12]** 

6. **SunZia Project Progress**  
   **Q:** What's the latest on the SunZia project?  
   **A:** The **SunZia** project is progressing well with no permitting issues.  **[PWR_3382090_7]**  We're advancing as planned and expect it to be a strong project.  **[PWR_3382090_7]** 

7. **Strong Cash Flow and Capital Allocation**  
   **Q:** Cash flow was strong; how will you use it?  
   **A:** Despite strong first-quarter cash flow, we maintain our full-year guidance.  **[PWR_3382090_16]**  We'll deploy capital prudently, considering options like M&A and buybacks.  **[PWR_3382090_16]** 

8. **Staffing and Capacity to Meet Growth**  
   **Q:** Are there challenges in staffing to meet growth demands?  
   **A:** We've invested in our workforce, increasing headcount to nearly **54,000**, up **4,000** year-over-year.  **[PWR_3382090_5]** **[PWR_3382090_20]**  We haven't faced issues in hiring or training, positioning us well for future demand.  **[PWR_3382090_5]** **[PWR_3382090_20]** 

9. **Federal Permitting Reforms Impact**  
   **Q:** How will federal permitting reforms affect transmission projects?  
   **A:** The reforms are incrementally helpful, especially out west, but state policies and regulations still play a significant role.  **[PWR_3382090_9]** 

10. **Telecom and Industrial Segments**  
    **Q:** Any notable developments in telecom or industrial segments?  
    **A:** Our industrial segment is performing well, with synergies from recent acquisitions.  **[PWR_3382090_17]**  **Telecom** had a strong quarter, achieving parity with the electric segment and adding backlog.  **[PWR_3382090_17]** 

85c220bc4c5f4330d4f055b2a38449b0f0b3e5c53bee7dda080ef50aa5d12bc7

- **Strong Backlog and Confidence in Double-Digit EPS Growth:** Quanta Services expects **double-digit EPS growth** in 2024 and beyond, driven by a **record backlog of $30.1 billion** and robust demand across its business segments.  **[PWR_3363593_16]** ,  **[PWR_3363593_13]**
- **Robust Demand from Underestimated Macro Trends:** The company sees significant opportunities due to underestimated macro trends like **data centers**, **electric vehicles**, and **renewable energy**, leading to unprecedented demand for infrastructure services.  **[PWR_3363593_7]** ,  **[PWR_3363593_13]**
- **Improving Margins and Solid Execution Across Segments:** Quanta Services is experiencing **improving margins** in its Renewable Energy Infrastructure Solutions segment, targeting the **9% to 10% range**, while the Electric Power segment is performing well with operating margins between **10% and 11%**.  **[PWR_3363593_19]** ,  **[PWR_3363593_9]**

d8407a199a670b812d278e387f2b89fb5e1548b9c6db335d0ab092a5913019ae

1. **Renewable Margins Outlook**  
   **Q:** Can we expect double-digit renewable margins by 2025?  
   **A:** Management believes achieving **double-digit margins** in the renewable segment is possible over time. They have made improvements, noting that the transmission business is already around double digits. They remain confident about reaching **9% to 10% margins** as previously stated.  **[PWR_3405029_6]** 

2. **Cupertino Electric Guidance**  
   **Q:** Has guidance for Cupertino Electric changed this year?  
   **A:** Cupertino Electric is performing at the **high end of the $1 billion to $1.1 billion revenue range** previously indicated. Management sees synergies already showing up and expects Cupertino to contribute more significantly in **2025 and beyond**, particularly in the data center business.  **[PWR_3405029_6]** 

3. **Renewable Transmission Projects**  
   **Q:** What's the outlook for renewable transmission projects?  
   **A:** The company sees **record levels** of bids and proposals for large transmission projects in **2025, 2026, and 2027**. Management believes transmission infrastructure is critical for meeting market demand and notes they have **never seen the business better**.  **[PWR_3405029_5]** 

4. **Data Center Investment Timing**  
   **Q:** When will data center investments impact your backlog?  
   **A:** Utilities are beginning to issue equity for transmission growth, and discussions with RTOs and developers are ongoing. Management expects significant transmission and substation builds to start soon, as these projects require starting now to meet future demand. They are in the **early stages** but see **substantial opportunities** ahead.  **[PWR_3405029_8]** 

5. **Organic Growth Outlook**  
   **Q:** Why was organic growth slower, and what's the outlook?  
   **A:** Organic growth was **5%** into the third quarter but is expected to be **double-digit** for the year at the midpoint of the forecast range. Management anticipates **upper single-digit** organic growth going forward for the traditional T&D business.  **[PWR_3405029_7]** 

6. **Transformer Manufacturing Acquisition**  
   **Q:** How does the transformer acquisition address supply constraints?  
   **A:** The acquisition of a small transformer manufacturing company helps alleviate constraints on large transformers. The factory supports internal needs but is intended to **enhance the whole market**. Synergies with existing assets are present, and the company aims to improve its position in self-performing critical path items.  **[PWR_3405029_4]** 

7. **Labor Constraints and Inflation**  
   **Q:** How are workforce constraints affecting margins and inflation?  
   **A:** Management acknowledges labor costs are increasing by about **4% to 6%**, which they pass through contractually or adjust bids accordingly. They continue to invest in labor training programs, including through the Cupertino acquisition, to enhance the workforce and mitigate constraints.  **[PWR_3405029_11]** 

8. **Cash Flow Conversion**  
   **Q:** Is higher free cash flow conversion sustainable going forward?  
   **A:** The higher free cash flow conversion this year reflects the mix of work and improved collections. While the company targets a **45% to 55%** conversion rate, opportunities exist to be at the high end or even greater, depending on work mix.  **[PWR_3405029_21]** 

9. **Capital Allocation and Acquisitions**  
   **Q:** How are you approaching capital allocation and potential acquisitions?  
   **A:** The company is disciplined in acquisitions, focusing on businesses that fit culturally and offer long-term value. They are interested in front-end engineering capabilities but will grow organically or partner if necessary. The aim is to find businesses that provide stability and align with their culture.  **[PWR_3405029_24]** 

10. **Renewable Bookings Outlook**  
    **Q:** Why are renewable bookings lighter, and when will they convert?  
    **A:** Management expects a substantial amount of letters of notice to proceed converting to contracts soon. Discussions are robust, and they are confident backlog will grow. They acknowledge potential delays due to the election but believe the underlying business continues forward.  **[PWR_3405029_19]** 

29b671db94348cbdc0d0a1b8f1ecfeb668255a501ba2a116195abf8f43928258

- **Renewable margins fell short of expectations due to underperforming projects, affecting overall segment performance**.  **[PWR_3382090_3]**
- **Delays in negotiations and project bookings are causing backlog to remain almost flat, with negotiations taking longer and the industry experiencing some stalling**.  **[PWR_3382090_4]** **[PWR_3382090_19]**
- **Permitting and regulatory hurdles remain significant obstacles, with state policies and commissions presenting challenges despite federal efforts to streamline processes**.  **[PWR_3382090_9]**

cd553228954b2ce3279b37d35599a2db1d94fdd24f59688d7e24a333bbb2dff6

1. **Second Half Guidance**  
   **Q:** How confident are you in the second-half revenue ramp?  
   **A:** Management is confident in their revenue expectations for both the electric and renewables segments, citing strong utility customer capital spending and big programs that will start ramping in the back half of the year.  **[PWR_3395648_17]**  They feel good about where their customers are headed and continue to enter contracts and build projects without concerns.  **[PWR_3395648_17]** 

2. **Regulatory Environment Impact**  
   **Q:** How do regulatory constraints affect your business?  
   **A:** While acknowledging that energy affordability is a political concern, management emphasizes that the demand for grid upgrades remains strong.  **[PWR_3395648_15]**  They believe that once political uncertainties subside, the country can move towards necessary transitions, and load growth will continue regardless of the regulatory environment.  **[PWR_3395648_15]** 

3. **Canadian Receivables and Leverage**  
   **Q:** What's the status of Canadian receivables and deleveraging?  
   **A:** They are confident about collecting the Canadian receivables in the second half or shortly thereafter.  **[PWR_3395648_13]**  They expect to be under **2x leverage** by year-end, even if the collection is delayed.  **[PWR_3395648_13]** 

4. **M&A vs. Organic Growth**  
   **Q:** Will growth rely more on M&A than organic growth?  
   **A:** Management believes they can continue to grow organically, citing **mid-double-digit EPS growth** at the midpoint of guidance.  **[PWR_3395648_9]**  They have a prudent M&A strategy, focusing on solutions and deploying free cash effectively, and will pursue acquisitions that make sense.  **[PWR_3395648_9]** 

5. **Organic Outlook Movers**  
   **Q:** What's stronger or weaker in your organic outlook?  
   **A:** The portfolio is performing as expected, with some segments exceeding expectations.  **[PWR_3395648_3]**  Shifts in utility capital spending between gas and electric affect segments differently, but their diversified portfolio allows them to adapt.  **[PWR_3395648_3]** 

6. **Renewables Margins and Projects**  
   **Q:** How did troubled projects affect renewables margins?  
   **A:** There was a **$20 million** drag from one project in Q2, similar to the **$22 million** impact in Q1.  **[PWR_3395648_4]**  Despite this, the renewables segment performed very well, overcoming challenges, and they expect margins to improve as these projects are completed.  **[PWR_3395648_4]** 

7. **Transmission vs. Distribution Spending**  
   **Q:** Will distribution spend ramp up in the second half?  
   **A:** They are up **9%** for the year in transmission and distribution and haven't seen much of a drag.  **[PWR_3395648_5]**  They can shift resources between segments and see strengthening in the back half, with factors like EV penetration driving distribution spending.  **[PWR_3395648_5]** 

8. **Impact of Trade and Election Uncertainty**  
   **Q:** Is customer pullback affecting renewables due to uncertainties?  
   **A:** They are not seeing any impact from trade or election uncertainties.  **[PWR_3395648_7]**  Technology demand drives renewable generation, backstopping these concerns, and they remain agnostic to political parties in power.  **[PWR_3395648_7]** 

9. **Communications Business Outlook**  
   **Q:** What's the outlook for the communications segment?  
   **A:** The communications business is stable, and while growth hasn't come from this segment yet, they are ready to support clients as opportunities arise.  **[PWR_3395648_10]**  They invest prudently and can scale the business without significant impact.  **[PWR_3395648_10]** 

10. **Key Growth Drivers**  
    **Q:** Which tailwinds will impact your business most?  
    **A:** Technology-driven load growth is the primary driver, with customer capital budgets rising.  **[PWR_3395648_11]**  Investments in AI and infrastructure necessitate builds to support generation, and technology acts as a backstop for growth.  **[PWR_3395648_11]** 

11. **Data Center Opportunities**  
    **Q:** How will data center focus scale in the next 5 years?  
    **A:** They see growth opportunities with Cupertino Electric, especially in renewables like batteries and solar.  **[PWR_3395648_16]**  Addressing limitations in resources and capacity, they expect to improve both top and bottom lines through synergies.  **[PWR_3395648_16]** 

12. **Canadian Business Outlook**  
    **Q:** How is your Canadian business performing?  
    **A:** The macro market is improving, and they expect better performance in the second half and into 2025.  **[PWR_3395648_20]**  They anticipate margins in Canada to improve incrementally, reaching parity with the rest of the segment.  **[PWR_3395648_20]** 

13. **Shifts in CapEx Allocation**  
    **Q:** Will less capital flow to distribution CapEx?  
    **A:** Movements are regional, and they can adjust resources as needed.  **[PWR_3395648_18]**  They are not concerned about electric distribution and can provide flexibility to clients as capital shifts between gas and electric.  **[PWR_3395648_18]** 

14. **Backlog and Contracting**  
    **Q:** Has the lull in contracting ended?  
    **A:** They observe continued capital budget maintenance and growth due to increasing load.  **[PWR_3395648_19]**  While there are movements across segments, they believe transmission is crucial, with demand outpacing supply, necessitating infrastructure builds.  **[PWR_3395648_19]** 

15. **TS Conductor Investment**  
    **Q:** What is the rationale for investing in TS Conductor?  
    **A:** They made a small investment to align with technology beneficial for reconductoring projects.  **[PWR_3395648_8]**  They like the technology, have experience with it, and wanted to be part of the solution alongside their customers.  **[PWR_3395648_8]** 

16. **Service Offering Expansion**  
    **Q:** Are you selling a broader portfolio of services now?  
    **A:** They are more solution-based, offering comprehensive services to clients who want to accelerate to market.  **[PWR_3395648_12]**  Focusing on removing bottlenecks, they provide value through speed and efficiency.  **[PWR_3395648_12]** 

17. **Industrial Business Performance**  
    **Q:** How is Stronghold performing amid industrial weakness?  
    **A:** The industrial business is performing well and setting records.  **[PWR_3395648_9]**  While there were shifts in project timing, they remain conservative in guidance and like the business's growth.  **[PWR_3395648_9]** 

66c15907b4b7d02dc6a047c073cfbba0c232ced4eb3c3741c780cae6c1553bb3

- **Strong growth in the Renewable Energy segment**, with double-digit revenue increases expected in 2024, supported by significant projects like SunZia and expanding energy storage attachments to solar and wind projects, enhancing margins and providing substantial opportunities.  **[PWR_3374534_9]** **[PWR_3374534_16]** **[PWR_3374534_8]**
- **Improving visibility of high-voltage transmission projects**, positioning Quanta to capitalize on increased demand for infrastructure investment as the energy transition accelerates.  **[PWR_3374534_4]**
- **Robust free cash flow generation exceeding expectations**, driven by the favorable cash flow profile of the Renewable business, supporting further growth and opportunistic capital allocation.  **[PWR_3374534_14]**

a5e8aeef35999c30cd908b111f967876c954bb0c5864ea801b99026e43d9ba57

- **Strong Performance and Growth in the Renewables Segment**: Despite some project-specific challenges, Quanta's renewables segment performed **better than expected** with **double-digit margins** anticipated going forward. The company is confident in its **back half expectations on renewables** and sees continued growth into **2025** due to stacking effects of larger projects over a growing base.  **[PWR_3395648_4]** ,  **[PWR_3395648_6]**
- **Confidence in Increased Utility Spending and Major Programs**: Quanta is seeing its utility customers continue to **spend capital**, with **big programs** starting to ramp up in the back half of the year. The company has **visibility into the back half** and is confident in its revenue expectations for both the electric and renewables segments, driven by factors such as **EV penetration** and **storm hardening**.  **[PWR_3395648_17]** ,  **[PWR_3395648_5]**
- **Strategic Investments and Solutions-Based Approach Driving Growth**: Quanta's strategic investments, such as in **TS Conductor**, and acquisitions like **Cupertino**, are enhancing its offerings and positioning it as a **solutions provider**. The company is focusing on removing bottlenecks and providing end-to-end solutions to clients, enabling **faster time to market** and **margin accretion** in its segments.  **[PWR_3395648_12]** ,  **[PWR_3395648_8]** ,  **[PWR_3395648_16]**

b6770a581f2745e887c416aae0789772e648097752c50820286ecfcc3e868164

- **The company is cautious about its Underground and Industrial (UI) segment due to shifts in larger projects and uncertainties related to the upcoming election year, leading to more conservative guidance.**  **[PWR_3395648_9]**
- **There was a $20 million financial drag in Q2 from ongoing challenges in certain renewable energy projects, indicating potential execution risks in the segment.**  **[PWR_3395648_4]**
- **Potential flattening of growth in the renewables business as the year progresses, raising concerns about the acceleration of growth in that segment.**  **[PWR_3395648_17]**

78fc52dcc2e23c4aee0d54cde26293cef0bc921fb2ca3e7aebe5b442d9190a5b

1. **Margin Outlook**  
   **Q:** Are you planning to rightsize the Electric Power business in Canada due to margin pressures?  
   **A:** Earl Austin explained that while there is some margin pressure in Canada, they believe they can maintain **10% to 10.5% margins** in the Electric segment, with potential upside depending on storms and utilization.  **[PWR_3374534_3]**  By combining the Renewable and Electric segments, they expect to achieve **double-digit margins** in the future.  **[PWR_3374534_3]** 

2. **Transmission Project Visibility**  
   **Q:** How has visibility of high-voltage transmission projects improved?  
   **A:** Earl Austin stated that the nation's grid is underinvested in transmission, and significant investment is needed to support transitions like EV adoption and fuel switching.  **[PWR_3374534_4]**  They are beginning larger projects and seeing more opportunities, increasing their confidence in executing and winning these projects.  **[PWR_3374534_4]** 

3. **Acquisitions in Industrial Solutions**  
   **Q:** Can you discuss the recent acquisitions and your strategy in Industrial Solutions?  
   **A:** Earl Austin mentioned that they value the resilient industrial business in their UUI segment and see the Environmental Solutions they provide as enduring for decades.  **[PWR_3374534_5]**  The acquisitions enhance their customer base with minimal overlap and offer synergies that will show up in their numbers.  **[PWR_3374534_5]** 

4. **Customer Outlook and Regulatory Impact**  
   **Q:** How are customers thinking about projects amid potential regulatory changes?  
   **A:** Earl Austin observed that customers are not backing off projects; capital continues to grow with factors like data centers and load growth driving demand.  **[PWR_3374534_6]**  While EV penetration may stall, the need to electrify and secure the system remains, and any shift from distribution to transmission does not affect their portfolio or guidance.  **[PWR_3374534_6]** 

5. **2024 Guidance and CapEx Increases**  
   **Q:** How much of the increased utility CapEx is factored into your 2024 guidance?  
   **A:** Earl Austin indicated they've considered historical growth and prudently accounted for factors like storms and election years in their guidance.  **[PWR_3374534_7]**  They see opportunities to grow **15%**, driven by the tech push on AI and data centers requiring clean power, boosting confidence in transmission system capital spending.  **[PWR_3374534_7]** 

6. **SunZia Project Risks and Impact**  
   **Q:** Can you address risks related to the SunZia project and quantify its impact?  
   **A:** Earl Austin is confident in their numbers and not concerned about risks with SunZia.  **[PWR_3374534_8]**  The project is starting and will ramp throughout the year, contributing to their guidance moving into the second half, with expectations for more awards to continue the ramp.  **[PWR_3374534_8]** 

7. **Renewables Segment Growth and Margins**  
   **Q:** How should we think about the 20% growth in the Renewables segment in 2024?  
   **A:** Earl Austin noted they've had phenomenal growth in Renewables in '22 and '23 and expect **double-digit plus growth** in '24 across legacy business and balance of plant.  **[PWR_3374534_9]**  As wind projects like SunZia come in, the mix shift and utilization of assets will help margins improve, and they believe the top line in the Renewables segment will increase.  **[PWR_3374534_9]** 

8. **Portfolio Approach Benefits**  
   **Q:** Where will the portfolio approach have the biggest impact in 2024?  
   **A:** Earl Austin expects the Distribution business to ramp up in the back half of '24, with Canada moving back into good markets.  **[PWR_3374534_10]**  They've rightsized the business, and as the portfolio matures geographically and across service lines, optimization will increase margins, aiming for **double-digit EBITDA margins** across the board.  **[PWR_3374534_10]** 

9. **Resource Allocation and Labor Capacity**  
   **Q:** How are you managing resource allocation amid high demand and potential labor constraints?  
   **A:** Earl Austin stated they are not near capacity and are not concerned with labor at this point.  **[PWR_3374534_11]**  They have a good 5-year outlook, working closely with clients, and see technology demands like data centers increasing the need for robust grid infrastructure, which aligns with their services.  **[PWR_3374534_11]** 

45239d5a76c44ad75f1c221b8f19f3ac0cb2255308eced5040ee206c44b72c5e

- **Strong Growth in Renewables and Data Center Demand:** Quanta Services expects **double-digit growth** in renewables, including wind, solar, and EV infrastructure. The **backlog is accelerating** in the renewables segment. Additionally, the company is benefiting from **increasing demand from data centers and AI technologies**, which is driving significant load growth and benefiting both their T&D and renewables businesses.  **[PWR_3382090_23]** **[PWR_3382090_3]**
- **Robust Performance in Telecom and Industrial Segments:** The telecom segment had a **strong quarter**, added **backlog**, and is expected to perform well long term due to the need for **fiber connections between data centers**. The industrial segment is also performing well, with synergies from recent acquisitions contributing positively.  **[PWR_3382090_17]**
- **Positive Outlook on Electric Power Segment with Margin Expansion:** The electric power business experienced over **5% growth** in the quarter when combining transmission, substation, and distribution work types. Despite a slight revenue decline, the segment achieved **strong margins**, and the company sees **more demand than ever**, indicating potential for margin upside and record backlog levels.  **[PWR_3382090_4]**

810598e48d50e6c2d241dd80570e717c6f89d4271a23e51ccd18f41b0ce1df01

Quanta Services Inc (PWR)

Financials