PWR · 10-Q · 2026Q3 · Full report
Operating Expense Trends
QUANTA SERVICES, INC. · 2026-10-29 · Importance 55 · Surprise 56 · Contradicted
Selling, general and administrative expense increased 31.8% to $2.103 billion for the nine months ended September 30, 2026. The increase included $230.9 million of higher compensation expense, largely from increased headcount and variable compensation, and $199.4 million related to recently acquired businesses. Travel, professional fees and information technology expenses added $73.4 million to the nine-month increase. Intangible-asset amortization increased $142.0 million to $498.0 million, primarily because of acquisitions since September 30, 2025.
Key facts
- For the nine months ended September 30, 2026, Quanta's SG&A increased $507.232 million, or 31.8%, including $230.9 million of additional compensation expense and $199.4 million related to recently acquired businesses. source
- Quanta's third-quarter 2026 selling, general and administrative expense was $783.287 million, up $210.337 million or 36.7% year over year. source
- Quanta's third-quarter 2026 amortization of intangible assets was $188.632 million, up $55.437 million or 41.6% year over year, due to incremental amortization associated with recent acquisitions. source
- Quanta's third-quarter 2026 SG&A increase included $103.8 million of higher compensation expense, including increased headcount and variable compensation, and $79.8 million related to recently acquired businesses. source
- Quanta's third-quarter 2026 SG&A increase also included $23.0 million of higher travel, professional fees and information technology expenses. source
- For the nine months ended September 30, 2026, Quanta's SG&A also increased by $73.4 million in travel, professional fees and information technology expenses. source
- Quanta's third-quarter 2026 effective income tax rate was 25.2%, compared with 25.9% in the third quarter of 2025; the decrease primarily reflected the mix of earnings across operating jurisdictions. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | realized | -4.2% | For the nine months ended September 30, 2026, Quanta's SG&A increased $507.232 million, or 31.8%, including $230.9 million of additional… |
| operating_income | negative | realized | -1.8% | Quanta's third-quarter 2026 selling, general and administrative expense was $783.287 million, up $210.337 million or 36.7% year over year. |
| operating_income | negative | realized | -0.5% | Quanta's third-quarter 2026 amortization of intangible assets was $188.632 million, up $55.437 million or 41.6% year over year, due to… |