On July 30, Quanta surged 19.01% in regular trading, trading at 653.38 USD/share, with turnover of $256 million.

On the news front, the company reported Q2 adjusted EPS of $4.24, far exceeding the analyst consensus estimate of $3.31, representing a 70.97% year-over-year increase. Quarterly revenue reached $9.56 billion, significantly above the expected $8.61 billion, compared to $6.77 billion a year earlier.

Simultaneously, the company raised full-year guidance substantially. Revenue is now projected at $39.3 billion to $39.7 billion, well above prior guidance of $34.7 billion to $35.2 billion and the FactSet consensus of $35.01 billion. Adjusted EPS guidance was lifted to $16.45-$16.95, up from $13.55-$14.25 previously, significantly surpassing the analyst estimate of $14.01.

Prior to the earnings release, JPMorgan had downgraded Quanta from Overweight to Neutral with a price target cut to $714, and Jefferies had lowered its target to $784, leading to three consecutive days of decline totaling approximately 6%. The blowout results effectively countered the cautious institutional stance, driving a strong rebound.

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