Jim Cramer Touts Quanta Services as Core AI Infrastructure Play on Record Backlog and M&A Growth

CNBC "Mad Money" host Jim Cramer reiterated a bullish stance on Quanta Services ($PWR), describing the utility contractor as a "no-brainer buy" positioned to benefit from ongoing grid electrification and AI data-center expansion despite near-term pre-election uncertainty.
The infrastructure specialist plays a critical bottleneck role in the technology supply chain: before hyperscale data centers can operate advanced compute hardware, Quanta builds substations, runs high-voltage transmission lines, and connects grid power. With over 80% of its work self-performed by internal union linemen and specialized crews, Quanta holds significant operational moats against widespread skilled-labor shortages.
Key operational and financial drivers include:
• Robust financial expansion: In Q2 2026, revenue surged 41% year-over-year to $9.56 billion, adjusted diluted EPS grew to $4.24, and quarterly free cash flow reached $900 million.
• Upgraded FY2026 outlook: Full-year revenue guidance was raised to $39.3–$39.7 billion, with adjusted EPS expected between $16.45 and $16.95 and full-year free cash flow projected at $2.0–$2.5 billion.
• Record visibility: Total project backlog reached an all-time high of $53.4 billion, backed by an $885 billion addressable market across data centers and advanced load centers through 2030.
• Strategic acquisitions & manufacturing: Quanta closed four acquisitions (Phalcon, Enerfab, Percheron, and PSD) for $1.24 billion to add $1.2–$1.4 billion in annualized revenue, alongside a Pennsylvania joint venture with Hyosung HICO to manufacture domestic high-voltage circuit breakers up to 800 kV.