QUANTA SERVICES, INC. SEC Filings

Quanta Services, Inc. is issuing $500,000,000 4.850% Senior Notes due 2029, $750,000,000 5.300% Senior Notes due 2033 and $750,000,000 5.550% Senior Notes due 2036, for a total public offering price of $1,995,647,500. The notes are senior unsecured obligations of Quanta, structurally subordinated to liabilities of its subsidiaries and effectively subordinated to secured debt.

After underwriting discounts, estimated net proceeds are $1,984,335,000, to be used for general corporate purposes, including repayment of borrowings under Quanta’s commercial paper program and senior credit facility. As of June 30, 2026, as adjusted for this offering, Quanta would have had $7.0 billion of outstanding debt, $268.6 million of which would have been secured, and $2.71 billion of undrawn capacity under its senior credit facility. The notes include an optional redemption feature and a requirement to offer to repurchase at 101% upon a defined Change of Control Triggering Event.

Quanta Services, Inc. entered into an underwriting agreement for an underwritten public offering of three series of senior notes: $500,000,000 of 4.850% notes due 2029, $750,000,000 of 5.300% notes due 2033 and $750,000,000 of 5.550% notes due 2036. The notes were priced slightly below face value, with public offering prices of 99.950%, 99.757% and 99.696% of principal amount, respectively, and the offering is expected to close on August 6, 2026, subject to customary conditions.

Quanta plans to use the net proceeds for general corporate purposes, including repaying borrowings under its commercial paper program and senior credit facility. The notes are being issued under an effective shelf registration statement on Form S-3, with a syndicate of major banks acting as joint book-running managers.

Quanta Services, Inc. plans a primary offering of senior unsecured notes in multiple series under an existing shelf registration. The notes will be senior obligations of Quanta, structurally subordinated to liabilities of its subsidiaries, and effectively subordinated to secured debt.

Interest will be paid semi-annually, the notes may be redeemed at Quanta’s option (with a make-whole premium before specified par call dates), and holders gain a right to require purchase at 101% of principal upon a defined Change of Control Triggering Event. As of June 30, 2026, pro forma for this transaction, Quanta would have had outstanding debt including $268.6 million of secured borrowings and subsidiaries’ liabilities of $11.75 billion. Net proceeds are intended for general corporate purposes, including repayment of borrowings under the commercial paper program and senior credit facility, and certain underwriters or affiliates that are existing lenders or dealers may receive at least 5% of the net proceeds, triggering FINRA Rule 5121 conflict-of-interest disclosures. The notes will not be listed on an exchange, and active trading markets may not develop.

Quanta Services reported sharply higher results for the quarter ended June 30, 2026, with revenues of $9.56 billion, up from $6.77 billion a year earlier, and net income attributable to common stock of $451.4 million versus $229.3 million. Diluted EPS increased to $2.96 from $1.52.

For the first six months of 2026, revenue reached $17.43 billion and operating cash flow $1.49 billion. Total assets were $28.29 billion, including $506.4 million of cash, against total long-term debt obligations of $6.10 billion. Remaining performance obligations grew to approximately $33.55 billion, with about 70% expected to convert to revenue within 12 months, supported by recent acquisitions with total consideration of about $1.43 billion.

Quanta Services, Inc. delivered record second quarter 2026 results, with revenues of $9.56 billion, net income attributable to common stock of $451.4 million and GAAP diluted EPS of $2.96. Adjusted diluted EPS was $4.24 and adjusted EBITDA was $1.1 billion, with cash flow from operations of $1.1 billion and free cash flow of $0.9 billion.

Total backlog reached $53.4 billion and remaining performance obligations $33.6 billion, supported by strong contributions from the Electric and Underground and Infrastructure segments and higher operating margins. Quanta completed or agreed to acquire Phalcon, Enerfab, Percheron and PSD, expecting these businesses to add $1.2–$1.4 billion of 2026 revenue and $120–$140 million of adjusted EBITDA, for approximately $1.24 billion of upfront consideration plus up to $242.3 million of contingent payments. Reflecting the strong first half and improved visibility, management significantly increased 2026 guidance, now forecasting revenues of $39.3–$39.7 billion, net income attributable to common stock of $1.74–$1.82 billion, GAAP diluted EPS of $11.41–$11.92, adjusted diluted EPS of $16.45–$16.95, adjusted EBITDA of $4.09–$4.21 billion and free cash flow of $2.0–$2.5 billion.

Quanta Services director Warner L. Baxter exercised restricted stock units that vested as part of his equity compensation. On June 1, 2026, 559 restricted stock units settled into 559 shares of common stock on a one-for-one basis, increasing his direct common stock holdings to 1,181 shares. Following the settlement, he holds 249 restricted stock units, which were originally granted on May 22, 2025.

Quanta Services director Doyle N. Beneby exercised and settled 870 restricted stock units (RSUs) into an equal number of common shares on June 1, 2026. These RSUs were granted on May 22, 2025 and vested on the same June 2026 date. After the transaction, Beneby directly holds 29,657 common shares and 387 RSUs, reflecting routine equity-based compensation activity with no open-market buying or selling.

Quanta Services director Bernard Fried reported a routine equity grant vesting. On June 1, 2026, he exercised restricted stock units to acquire 559 shares of Quanta Services common stock at a stated price of $0.00 per share, reflecting settlement of previously granted compensation.

After this transaction, Fried directly holds 10,165 common shares and indirectly holds 12,355 common shares through the Fried Family Revocable Trust. The footnotes state that the restricted stock units were granted on May 22, 2025, vested and settled on June 1, 2026, and are settled one-for-one in common stock, including units deferred under a nonqualified deferred compensation plan.

Quanta Services director Holli C. Ladhani reported routine equity compensation activity involving restricted stock units and common stock. On June 1, 2026, 559 restricted stock units vested and were settled into 559 shares of common stock. On the same date, Ladhani disposed of 196 common shares back to the company in a transaction coded as a disposition to the issuer. After these transactions, Ladhani directly held 4,743 common shares and 249 restricted stock units, which may be settled in stock on a one-for-one basis, with an option in some circumstances to settle up to 50% of the units in cash.