Quanta Services forecasts 2026 profit above estimates on strong AI data center-led demand

Feb 19 (Reuters) - Quanta Services on Thursday forecast 2026 profit above Wall Street estimates, ‌as robust investments in AI-infrastructure boosts demand ‌for the energy contractor's core electric segment.

Shares of the company ​rose 6% in premarket trading.

The Houston, Texas-based company expects full-year adjusted profit per share between $12.65 and $13.35, above analysts' estimate of $12.44 per share, according to ‌data compiled by ⁠LSEG.

"The convergence of utility, power generation, and large-load industries continues to create significant ⁠opportunities," Quanta Services CEO Duke Austin said.

The company said, during the previous quarter's earnings call, it ​was well-positioned ​to leverage its ​capabilities in addressing growing ‌electricity and infrastructure demand from data centers, manufacturing and reshoring, industrialization, electrification and power grid expansion.

The company — which provides infrastructure services for utility, renewable energy, technology, communications, pipeline and energy industries — benefits ‌from robust investments in ​AI data centers from hyperscalers.

Quanta's ​adjusted profit for ​the quarter ended December 31 rose ‌to $3.16 per share, from $2.94 per ​share a ​year ago. Analysts, on an average, expected a profit of $3.02 per share.

The company's fourth-quarter revenue ​rose to $7.84 ‌billion, from $6.55 billion a year earlier. Analysts ​expected revenue of $7.37 billion.

(Reporting by Parth Chandna; ​Editing by Shailesh Kuber)