PWR — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-04-30

• Our first quarter 2026 results reflect increased demand for our services, as consolidated revenues and operating income increased as compared to the first quarter of 2025, with increased revenues and operating income in both our Electric Infrastructure Solutions (Electric) and Underground Utility an…

• With respect to our Electric segment, utilities are continuing to invest significant capital in their electric power delivery systems through multi-year grid modernization and reliability programs, as well as system upgrades and hardening programs in response to recurring severe weather events. We h…

• With respect to our Underground and Infrastructure segment, we continue to believe the market for our industrial solutions and gas utility and pipeline integrity services remains solid given the recurring critical-path maintenance requirements and regulated spend dedicated to modernizing systems, re…

• During the three months ended March 31, 2026, increased revenues and operating income contributed to $391.7 million of net cash provided by operating activities, which was a 61% increase compared to the three months ended March 31, 2025. This cash provided by operating activities, along with borrowi…

• We expect the strong demand for our services will continue. Our remaining performance obligations and backlog were $26.24 billion and $48.47 billion as of March 31, 2026, representing increases of 10.4% and 10.2% relative to December 31, 2025. For a reconciliation of backlog to remaining performance…

Text removed vs the prior filing · source: 10-Q · 2025-10-30

• During the three months ended March 31, 2025, our Chief Executive Officer reevaluated how performance of the business is assessed and how resources are allocated, which resulted in a change in the reporting of management’s internal financial information. As a result, beginning with the three months …

• Our 2025 results reflect increased demand for our services, as consolidated revenues and operating income increased as compared to 2024, with increased revenues and operating income in both our Electric and Underground and Infrastructure segments.

• With respect to our Electric segment, utilities are continuing to invest significant capital in their electric power delivery systems through multi-year grid modernization and reliability programs, as well as system upgrades and hardening programs in response to recurring severe weather events. We h…

• With respect to our Underground and Infrastructure segment, we continue to believe the market for our industrial solutions and gas utility and pipeline integrity services remains solid given the recurring critical-path maintenance requirements and regulated spend dedicated to modernizing systems, re…

• During the nine months ended September 30, 2025, increased revenues and operating income contributed to $1.10 billion of net cash provided by operating activities, which was a 19% decrease compared to the nine months ended September 30, 2024. This cash provided by operating activities, along with bo…

Text added vs the prior filing · source: 10-Q · 2026-04-30

• There has been no change in our internal control over financial reporting that occurred during the quarter ended March 31, 2026 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

• Our management, including the Chief Executive Officer and Chief Financial Officer, does not expect that our disclosure controls and procedures or our internal control over financial reporting will prevent or detect all errors and all fraud. A control

Text removed vs the prior filing · source: 10-Q · 2025-10-30

• We acquired five businesses during the nine months ended September 30, 2025. We are in the process of integrating these acquired businesses into our overall internal control over financial reporting process.

• Except as noted above, there has been no change in our internal control over financial reporting that occurred during the quarter ended September 30, 2025 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

Text added vs the prior filing · source: 10-Q · 2026-04-30

• During the three months ended March 31, 2026, no director or officer of Quanta adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

Text removed vs the prior filing · source: 10-Q · 2025-10-30

• The information set forth below is included for the purpose of providing disclosure under "Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant." of Form 8-K.

• On October 28, 2025, Quanta increased the size of its existing unsecured commercial paper program, established on August 23, 2022 (the CP Program), to permit the issuance of short-term, unsecured commercial paper notes (the Notes) up to a maximum aggregate face amount of $2.8 billion outstanding at …

• The Notes are issued pursuant to the terms and conditions of the commercial paper dealer agreements (each, a Dealer Agreement) entered between Quanta and each commercial paper dealer acting as a dealer under the CP Program (each, a Dealer). Quanta may engage additional commercial paper dealers from …

• The Notes are issued pursuant to an exemption from registration contained in Section 4(a)(2) of the Securities Act, and have not been and will not be registered under the Securities Act or state securities laws and may not be offered or sold in the United States absent registration or an applicable …

• From time to time, one or more of the Dealers and certain of their respective affiliates have provided, and may in the future provide, commercial banking, investment banking and other financial advisory services to Quanta and its affiliates for which they have received or will receive customary fees…