Quanta and GE Vernova boost outlooks

Quanta Services and GE Vernova both raised 2026 outlooks after reporting first-quarter results in late April, adding fresh detail to how data-center power demand is feeding through the electricity supply chain. Quanta, the Houston-based contractor, lifted its revenue and earnings expectations on April 30 after posting record backlog. GE Vernova, the Cambridge, Massachusetts-based power equipment maker, raised revenue and margin guidance on April 22 after reporting a surge in orders and backlog. (investors.quantaservices.com) Both companies tied the stronger forecasts to accelerating spending on transmission, grid equipment and power infrastructure serving large-load customers. (gevernova.com) The updates matter because the two companies sit at different points in the same buildout. (marketbeat.com) Quanta provides labor-heavy engineering and construction services across electric infrastructure. GE Vernova sells turbines, transformers and grid equipment. Their first-quarter disclosures showed utilities, developers and other power customers continuing to commit capital despite supply-chain and permitting constraints that both companies still flag in their outlook materials. ### What exactly did Quanta raise? Quanta Services on April 30 said it now expects 2026 revenue of $34.70 billion to $35.20 billion, up by $1.45 billion at the midpoint from its prior view. The company also raised expected 2026 adjusted diluted earnings per share to $13.55 to $14.25, and forecast adjusted EBITDA of $3.49 billion to $3.65 billion. (investors.quantaservices.com) First-quarter revenue at Quanta rose to $7.87 billion from $6.23 billion a year earlier, while adjusted diluted earnings per share increased to $2.68 from $1.78. Total backlog reached a record $48.5 billion at March 31, 2026, according to the company’s earnings release. (investors.quantaservices.com) Duke Austin, Quanta’s chief executive, said the company raised guidance after a “strong start to the year and improved visibility.” He said the company saw continued opportunities across “converging utility, generation and large-load markets,” which Quanta said at its investor day represent a $2.4 trillion total addressable market through 2030. (investors.quantaservices.com) ### How did GE Vernova change its 2026 forecast? GE Vernova on April 22 said it was raising 2026 financial guidance after first-quarter orders climbed to $18.3 billion and revenue reached $9.3 billion. Adjusted EBITDA margin rose to 9.6%, up 390 basis points from a year earlier, while backlog increased by $13 billion sequentially. (investors.quantaservices.com) Scott Strazik, GE Vernova’s chief executive, said demand was accelerating for the company’s Power and Electrification businesses from “a diverse set of customers.” He said the company now expects to reach at least 110 gigawatts of combined gas-turbine backlog and slot reservation agreements by the end of 2026. The April 22 earnings call transcript said GE Vernova raised full-year 2026 revenue, adjusted EBITDA and free-cash-flow guidance, reflecting higher revenue growth in Electrification and further margin expansion in Power and Electrification. (investors.quantaservices.com) ### Which numbers best show the data-center effect? GE Vernova said its Electrification segment booked $2.4 billion in equipment orders to support data centers in the quarter, more than all of last year. (gevernova.com) The company also said it signed 21 gigawatts of new gas equipment contracts during the quarter, including 19 gigawatts of slot reservation agreements and 2 gigawatts of orders. Quanta’s disclosures were less specific on a single data-center order figure, but the company said first-quarter results reflected momentum across its end markets and stronger visibility into the rest of 2026. (gevernova.com) Its Electric Infrastructure Solutions segment revenue increased 31% from a year earlier, and the company raised that segment’s full-year revenue outlook by $1.35 billion at the midpoint to $28.20 billion to $28.50 billion. (gevernova.com) ### Where do the two companies connect in the same build cycle? Quanta Services works on the field side of the buildout, supplying engineering, construction and craft labor for transmission, distribution and related infrastructure projects. (gevernova.com) GE Vernova supplies equipment needed to generate, move and manage electricity, including gas turbines and grid hardware. Quanta’s commentary said its strategy is grounded in “craft labor excellence, execution certainty and disciplined investment,” while GE Vernova said its Prolec GE acquisition strengthened its ability to serve grid-equipment customers. Taken together, the filings show customers still placing work across both labor and equipment categories as power demand rises. That last point is an inference from the two companies’ separate disclosures. (investors.quantaservices.com) ### What comes next in the reporting calendar? Quanta Services held its first-quarter earnings call on April 30 and said it expects revenues to grow sequentially in the second and third quarters before a seasonal fourth-quarter decline. (investors.quantaservices.com) GE Vernova held its first-quarter earnings call on April 22 and said its investor materials are available through its investor relations events page. MarketBeat’s earnings calendars list Quanta’s next results as expected on July 30, 2026, and GE (investors.quantaservices.com 1) (investors.quantaservices.com 2)