On July 31, Quanta rose 3.01% in pre-market trading, trading at $679.77/share with turnover of $1.3715 million, extending the prior session's nearly 19% surge.

The continued strength follows the company's Q2 earnings report released on July 30, which significantly exceeded expectations. Adjusted EPS came in at $4.24, beating the consensus estimate of $3.31 by approximately 28% and representing a 70.97% year-over-year increase. Revenue reached $9.56 billion, well above the $8.61 billion expected and up from $6.77 billion a year earlier.

Simultaneously, the company raised full-year guidance substantially, projecting revenue of $39.3 billion to $39.7 billion versus prior guidance of $34.7 billion to $35.2 billion and analyst expectations of $35.01 billion. Adjusted EPS guidance was lifted to $16.45-$16.95, far exceeding the previous range of $13.55-$14.25 and the FactSet consensus of $14.01. The results effectively countered recent downgrades from JPMorgan and Jefferies, which had pressured shares in the days leading up to the report.

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