Quanta Services, the Houston-based specialty contractor, reported sharply higher revenue and income for 2023—with $750.1 million in net income on $20.9 billion in revenue, compared to $511.6 million on $17 billion for the prior year.
Quanta's strength is in overhead power transmission and distribution lines and underground utilities. The company bettered 2022 revenue for a third business segment, renewable energy, by $2.39 billion. Electric power revenue increased by $757 million over the prior year and underground utility revenue by $660 million.