Quanta Services (PWR): Backlog Up 63% While Shares Fall 30%
Quanta Services' backlog rose 63% year over year to $64 billion as shares fell 30%, with AI and power-infrastructure demand driving revenue and free-cash-flow growth.
Thursday, November 12, 2026
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Convequity on X
@SgtPepperCap so far bottleneck and pricing lever is shifting from chips to energy -> $SPCX trying to redo the deal at spot pricing. So yes custom ASIC could help but it depends on energy & DC hosting supply too.
Deep Sail Capital on X
$NVDA is gonna go positive and the rest of the market is negative, isn’t it? Makes sense.
Fierce_beast on X
what's going on with $life?
Maj Soueidan on X
@TheBigBerbowski Yeah - let’s not waste our headspace on $NVDA drama and let’s spend all our time on moving forward with finding great ideas :) …
Farmer on X
@RedsGaurav Yeah, saw that. Would be interesting. And $SPCX probably flies to some stupid(er) valuation if it happens.
Farmer on X
@RedsGaurav My guess would be that VCs are currently all salivating, begging to throw money at his next venture. And I'd guess long-term this will harm $NVDA materially, but the stock will probably be a good buy at that point.
Farmer on X
I would guess $NVDA won't bottom until Jensen announces what he's doing next which could be months away.
Investor Letters
All letters- 103 Advisory Group October 2026 AMZN $2.9TGOOGL $3.6T
- Minotaur Capital October 2026 META $1.6TAVGO $1.6T
- Bell Asset Management October 2026 CRH $64BEXPGF $34B
- Lakehouse Capital Small Companies Fund October 2026 PNI $2.7B
- Lakehouse Capital Global Growth Fund October 2026 ADYEY $31BNOW $107B
- Spheria — Global Smaller Companies Fund month ended 31 October 2026 SFM $4.7BSN $32B
- Rathbones October 2026 SBGSF $158BSIEGY $236B
- FCL Capital October 2026 ANPDF $28BASML $591B
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