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Is Quanta Becoming the Biggest Winner From America's AI Buildout?
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Key Takeaways
Quanta's backlog reached $53.4B, supported by utility generation, transmission and technology load centers.
PWR's four acquisitions are expected to add $1.2-$1.4B in 2026 revenues and $120-$140M in EBITDA.
Quanta self-performs 80-85% of its work, strengthening its position in the AI-driven infrastructure buildout.
Quanta Services, Inc. (PWR - Free Report) is emerging as a key beneficiary of the massive infrastructure buildout required to support Artificial Intelligence (AI). While AI's impact is often associated with chips and data centers, the rapid expansion of technology load centers is creating an equally important need for power generation, transmission and grid infrastructure — areas where Quanta has significant expertise.
The company's second-quarter 2026 performance highlighted this opportunity. Management reported strong double-digit growth in revenues, adjusted EBITDA and adjusted EPS, alongside a record backlog of roughly $53 billion. Importantly, management said larger programs across utility generation and technology load centers remain ahead, suggesting that current demand could represent only the early stages of a much broader investment cycle.
PWR is also expanding its capabilities to capture more of this opportunity. The acquisitions of Phalcon, Enerfab, Percheron and PSD strengthen its electrical, mechanical, civil and fabrication capabilities while enhancing its position in technology and load centers. Collectively, the acquisitions are expected to contribute $1.2-$1.4 billion of 2026 revenues and $120-$140 million of adjusted EBITDA. Its new joint venture with Hyosung HICO adds another strategic layer by expanding domestic production of high-voltage circuit breakers for utility, industrial and technology load-center markets. The initiative addresses critical supply-chain requirements amid rising electricity demand from data centers, electrification and grid modernization.
Quanta's ability to self-perform 80-85% of its work, combined with its large craft workforce and execution capabilities, further strengthens its positioning. With AI accelerating electricity demand, Quanta could be positioned to capture a growing share of America's next infrastructure investment wave.
Quanta, EMCOR & AECOM: Which Stock Has More AI Fuel?
Quanta is well-positioned to benefit from rising infrastructure spending and the growing power requirements of AI, alongside other market players, EMCOR Group, Inc. (EME - Free Report) and AECOM (ACM - Free Report) . PWR stands out with a record $53.4 billion backlog, supported by strong demand across utility generation, transmission and technology load centers. Management expects larger programs in these markets to build in the coming years, providing a strong foundation for revenue growth.
EMCOR benefits from robust backlog across electrical and mechanical construction, with data centers and other technology-related projects supporting demand for mission-critical infrastructure. AECOM, meanwhile, brings engineering, consulting and program-management expertise to large-scale infrastructure projects, positioning it to benefit from investments needed to expand power capacity and support AI-driven data center development.
Overall, Quanta offers the most direct exposure to the physical power infrastructure behind AI, while EMCOR and AECOM provide complementary construction and engineering capabilities. The three companies therefore have differentiated avenues to convert AI-related infrastructure spending and backlog strength into sustained revenue growth.
PWR Stock’s Price Performance & Valuation Trend
PWR stock has gained 7.7% in the past six months, outperforming the Zacks Engineering - R and D Services industry and the Zacks Construction sector, but underperforming the S&P 500 index.
Image Source: Zacks Investment Research
PWR stock is currently trading at a premium compared with the industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 34.14, as evidenced by the chart below.
Image Source: Zacks Investment Research
Earnings Estimate Revision of PWR
PWR’s earnings estimates for 2026 and 2027 trended upward in the past 30 days to $16.37 per share and $18.96 per share, respectively. The revised estimates for 2026 and 2027 imply year-over-year growth of 52.3% and 15.8%, respectively.
View the Zacks #1 Rank List
Image: Bigstock
Is Quanta Becoming the Biggest Winner From America's AI Buildout?
Key Takeaways
Quanta Services, Inc. (PWR - Free Report) is emerging as a key beneficiary of the massive infrastructure buildout required to support Artificial Intelligence (AI). While AI's impact is often associated with chips and data centers, the rapid expansion of technology load centers is creating an equally important need for power generation, transmission and grid infrastructure — areas where Quanta has significant expertise.
The company's second-quarter 2026 performance highlighted this opportunity. Management reported strong double-digit growth in revenues, adjusted EBITDA and adjusted EPS, alongside a record backlog of roughly $53 billion. Importantly, management said larger programs across utility generation and technology load centers remain ahead, suggesting that current demand could represent only the early stages of a much broader investment cycle.
PWR is also expanding its capabilities to capture more of this opportunity. The acquisitions of Phalcon, Enerfab, Percheron and PSD strengthen its electrical, mechanical, civil and fabrication capabilities while enhancing its position in technology and load centers. Collectively, the acquisitions are expected to contribute $1.2-$1.4 billion of 2026 revenues and $120-$140 million of adjusted EBITDA. Its new joint venture with Hyosung HICO adds another strategic layer by expanding domestic production of high-voltage circuit breakers for utility, industrial and technology load-center markets. The initiative addresses critical supply-chain requirements amid rising electricity demand from data centers, electrification and grid modernization.
Quanta's ability to self-perform 80-85% of its work, combined with its large craft workforce and execution capabilities, further strengthens its positioning. With AI accelerating electricity demand, Quanta could be positioned to capture a growing share of America's next infrastructure investment wave.
Quanta, EMCOR & AECOM: Which Stock Has More AI Fuel?
Quanta is well-positioned to benefit from rising infrastructure spending and the growing power requirements of AI, alongside other market players, EMCOR Group, Inc. (EME - Free Report) and AECOM (ACM - Free Report) . PWR stands out with a record $53.4 billion backlog, supported by strong demand across utility generation, transmission and technology load centers. Management expects larger programs in these markets to build in the coming years, providing a strong foundation for revenue growth.
EMCOR benefits from robust backlog across electrical and mechanical construction, with data centers and other technology-related projects supporting demand for mission-critical infrastructure. AECOM, meanwhile, brings engineering, consulting and program-management expertise to large-scale infrastructure projects, positioning it to benefit from investments needed to expand power capacity and support AI-driven data center development.
Overall, Quanta offers the most direct exposure to the physical power infrastructure behind AI, while EMCOR and AECOM provide complementary construction and engineering capabilities. The three companies therefore have differentiated avenues to convert AI-related infrastructure spending and backlog strength into sustained revenue growth.
PWR Stock’s Price Performance & Valuation Trend
PWR stock has gained 7.7% in the past six months, outperforming the Zacks Engineering - R and D Services industry and the Zacks Construction sector, but underperforming the S&P 500 index.
Image Source: Zacks Investment Research
PWR stock is currently trading at a premium compared with the industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 34.14, as evidenced by the chart below.
Image Source: Zacks Investment Research
Earnings Estimate Revision of PWR
PWR’s earnings estimates for 2026 and 2027 trended upward in the past 30 days to $16.37 per share and $18.96 per share, respectively. The revised estimates for 2026 and 2027 imply year-over-year growth of 52.3% and 15.8%, respectively.
Image Source: Zacks Investment Research
Quanta stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.