Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Quanta (NYSE: PWR) and the best and worst performers in the energy products and services industry.
Areas like the energy transition and emission reduction are thematic and front of mind today. This can be a double-edged sword for the energy products and services industry. Those who innovate and build new expertise can jolt demand while those who cling to legacy technologies or fall behind in the trending areas could see their market shares diminish. Bigger picture, energy products and services companies are still at the whim of construction and infrastructure project volumes, which tend to be cyclical and can be impacted heavily by economic factors such as interest rates.
The 4 energy products and services stocks we track reported a slower Q1. As a group, revenues beat analysts’ consensus estimates by 3%.
Thankfully, share prices of the companies have been resilient as they are up 5.5% on average since the latest earnings results.
Best Q1: Quanta (NYSE: PWR)
A construction engineering services company, Quanta (NYSE: PWR) provides infrastructure solutions to a variety of sectors, including energy and communications.
Quanta reported revenues of $7.87 billion, up 26.3% year on year. This print exceeded analysts’ expectations by 11.5%. Overall, it was an incredible quarter for the company with a beat of analysts’ EPS and EBITDA estimates.
"Quanta delivered an exceptional first quarter, reflected by strong double-digit growth in revenue, adjusted EBITDA and adjusted earnings per share, along with record backlog of $48.5 billion. In particular, revenue growth and margin performance exceeded our expectations across both segments, demonstrating the power of our differentiated, solutions-based operating model and the execution certainty our craft-skilled workforce delivers for our customers every day. Based on this strong start to the year and improved visibility, we are increasing our full-year 2026 financial expectations and remain on track to deliver another year of double-digit earnings per share growth," said Duke Austin, President and Chief Executive Officer of Quanta Services.
Quanta achieved the biggest analyst estimate beat but had the weakest full-year guidance update of the whole group. Unsurprisingly, the stock is up 17.2% since reporting and currently trades at $737.01.
Ameresco (NYSE: AMRC)
Having played a role in upgrading the energy solutions of Alcatraz Island, Ameresco (NYSE: AMRC) provides energy and renewable energy solutions for various sectors.
Ameresco reported revenues of $401.5 million, up 13.8% year on year, outperforming analysts’ expectations by 9.4%. The business performed better than its peers, but it was unfortunately a slower quarter with full-year EBITDA guidance missing analysts’ expectations and a significant miss of analysts’ EPS estimates.
Ameresco pulled off the highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 13.7% since reporting. It currently trades at $35.79.
Is now the time to buy Ameresco? Access our full analysis of the earnings results here, it’s free.
Weakest Q1: MDU Resources (NYSE: MDU)
Founded to provide electricity to towns in Minnesota, MDU Resources (NYSE: MDU) provides products and services in the utilities and construction materials industries.
MDU Resources reported revenues of $606 million, down 10.2% year on year, falling short of analysts’ expectations by 12%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue and adjusted operating income estimates.
MDU Resources delivered the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 1.8% since the results and currently trades at $21.92.
Read our full analysis of MDU Resources’s results here.
FTAI Infrastructure (NASDAQ: FIP)
Spun off from FTAI Aviation in 2021, FTAI Infrastructure (NASDAQ: FIP) invests in and operates infrastructure and related assets across the transportation and energy sectors.
FTAI Infrastructure reported revenues of $188.4 million, up 95.9% year on year. This result topped analysts’ expectations by 3.3%. Zooming out, it was a softer quarter as it recorded a significant miss of analysts’ adjusted operating income estimates.
FTAI Infrastructure delivered the fastest revenue growth among its peers. The stock is down 7% since reporting and currently trades at $4.77.
Read our full, actionable report on FTAI Infrastructure here, it’s free.
Market Update
Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?
These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.
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