Third Thanks, welcome to XXXX Kip. Quanta Services Good Call. everyone, and Conference Quarter the morning, Earnings
provide commentary, On results Quanta's today, strategic quarter review to the I then full and Jayshree we'll will a and and provide CFO, third to Desai, over it call XXXX our of year turn operational expectations. financial
earnings portfolio comments, which highlight questions. our believe your our Jayshree's quarter ability leverage sustainable This reported service streams reflect and We morning, welcome we the managing approach third we the for demand and lines. diverse, repeatable continue successfully Following to services our execution. our in to results of strong benefits and our solid our results,
including include per metrics, of earnings quarter financial number EBITDA and third revenues, adjusted adjusted a Our record share. results
opportunity was we into year. Notably, billion and $XX.X higher as also move backlog significantly last of than we considerably backlog total to the period Additionally, XXXX. the same a record increase is see
by some delays Infrastructure well these caused results Power Electric Solutions inefficiencies. ongoing record We perform and challenges with to Our and that margins. led utilization chain resource despite supply segment to solid revenues imbalances achieved continued
should are be meaningful Demand well remains challenges utility as we power delays spending of not for overall are Quanta line and dynamics believe earnings to from and our trucks third to which hardening strategically lines base causing the market the XX% over grid landfall in these quickly submerged quarter chain for modernization coming by term for are the call, As we that Fiona a line resolved primarily deployed substations. initiatives, seeing, conditions of utility the solid share and these has and reputation hit. us we commented continues hurricane on quarters. and our damaged hurricanes than restoration Puerto prior feeders, gains driven allowed and to strong, for our island X services our made that of driven and emergency fleet in service system island's equipment support second business. sent response distribution supply on late in resources storm, strength capital to electric Quanta X to Overall, be our utility outlook Rico customers as opportunities increasing its business respond workers skilled broad-based Hurricane and by our XX% safe prepositioned shorter transmission the efforts island the more to when execution. XXX LUMA's the quarter.
While of existing flooding to X the grid efforts power more XX% of less than the made rain LUMA the customers heavy hurricane to from the weeks. more and in power its return fragile restoration challenging, than state island's and still managed
prior Hurricane event, times customers by much than was including hurricane, large storm if left quarter, to, proud staff previous from which operators category significant support destructive million are States or landfall workers than in of front-end way third and power responses United restoration of damaged services At more support Quanta the in the comparable United Ian different responded companies. We across hurricane, hurricanes faster utility Quanta and to Florida the made was infrastructure operating a deployed X destroyed major more the LUMA power. electrical grid the the Southeast and line end mainland better, States. this than X,XXX by following XX as X which whose not to customers resources without than
substantial our our believe restoration comprehensive resources of need. quarter support highlights times Although we restoration to in largely emergency our customers mobilize were Ian industry-leading, event, capabilities efforts for rapidly to Hurricane fourth a ability
restore of a opportunities and the us utilities hardening and after Blattner, ability day made we investments enhanced the ago first the Importantly, that the excited Ian system regulators over during benefits a restoration customers cultural hardening believe leading It as transaction then, I years model about were implement the the between of and we demonstrated to little a system closed have to to acquisition the that power programs. completed country the proposition throughout we including proved our operational in multiyear and the the than are and XX for hardening largely its we to full utilities serve will strong was We value they the efforts. past role now year than many Hurricane drivers Florida's Florida beneficial tell own as and growth plan can their Since you fit integration. of closing, key more customers, organizations. that the available more and have
Our teams are working collaboratively.
We have ones. enhanced and existing new relationships created customer
opportunities jointly our are position. industry-leading pursuing We and leverage expertise project that
We with just Blattner the a last have great getting are we accomplished year, over deal importantly, but believe started. more we
industry the through impacted the dynamics. these segment on and quarter, work. by overall utility-scale substation of revenues, faced which during Our solar increased voltage third solid delays operations high during well led chain performed interconnection levels supply transmission, quarter, Renewable our managed performance The Infrastructure but Solutions third our
in the conditions are duration and We these are quarters. coming themselves term will shorter that resolve over optimistic
closely build customers XXXX collaborate to for continue plans and on We our with our beyond. renewable
the considered believe be we the months. contract we were Furthermore, gigawatts be both or by a It past FERC, Commission, transmission development we energy-related the and solar, Inflation nearly nation's includes opportunities moving early to to that wind and energy generation for over transmission a proceed of this to end solutions decade. notices According are August, that limited to XXXX have are meaningful Reduction process, billion coming for still construction financial to In we and into grid. utility-scale Regulatory This incentives transition facilities proposed substation there ever that opportunities well and demand beginning the at forward or will result. to country's our normalized low-carbon electric are of could in climate, projects XXXX. Quanta's built to more actively for our believe in While $XXX project Federal These and effect are for number and legislation delayed action the with customers, renewable which renewable U.S. well X,XXX IRA most ambitious Act, to a markets model next which believe particular, approximately the Further, that tax taken we are in as interconnection there awarded to of required of are as movement positive as in investment slated be increasing should drive several challenges projects storage cadence many infrastructure the on pursuing, the generation, are and accelerate for the and on renewable least and a now and create high-voltage positioned see them. is collaborative large law. projects comprehensive respect on designed to the in Energy legislative power IRA, delivery a is to we seeking mostly economy. support the XXXX was signed support energy
that renewable confidence the reliance or are of growing the growth dynamics components domestic solar of key attractive could and just targets. panels. IRA generation earnings ensuring high by as domestic in the development long-term States. product incentives give manufacturing and, risk some our country's there ability availability This United are the for reduce turn, overseas us a on to in of to supply meet manufacturers the Additionally, reduce These financial degree expand demand exceed in meet energy to renewable such in chain
the Utility a demonstrate Revenues Underground our across high Infrastructure and level. perform to strongly, Our and operations segment at segment. grew solid in margins continues execution Solutions
deferred spending continue services industrial robust X operation as of maintenance resumed from pent-up and well and very activity demand forward. years experienced capital Our to moved execute
operations, and and We executing are environmental driven reliability. compliance by methane demand ensure also pipeline systems, which solid spend our well continue and for improve utility are integrity reduce emissions, modernize gas to safety and regulated experience to
the and diversify several customers' their emerging calls, discussed on strategies end, to traditional center business designed our and to their the that IRA our and opportunities greener and part as includes industries. To our of reduce transition evolving that opportunities. for segment views operations energy assets have technologies the support the energy are that For efforts footprint increasing about and quarters around accelerate carbon industrial of incentives the earnings certain the within we toward
and incentives credits energy as carbon to tool another invest there production carbon to current IRA interest source hydrogen technology. includes encourage technologies. clean of cost example, of customers can a the and projects capture reduce and to believe significant further set broader had today, hydrogen hydrogen clean of their they legislation, these passage expected tax produce which carbon and been capture competitive supporting that technology The several for in accelerate are projects is make in and/or For the we as IRA pursuit around opportunities investment this emissions. the also Prior power to accelerate to pursued customers potential and will
discussed today, megatrends. our comments and I we our believe Investor Day As this robust resilient take is and hope earlier as visible year we from long-term, driven our by services at demand portfolio you what and for across our are away
successfully excellence, executing our drive solutions clients stakeholders. operational for initiatives cost to our for and are value our We strategic on total
to grown the so. have company continue this We and expect executed to do profitably well year and
energy to designed North megatrends of tip not also America. position capitalize solutions bite are the and but customer infrastructure of Quanta's on initiatives market strategic us enhance relationships Our transition end spear the our the markets, to our positioning. uniquely the in only of to
and so. Our could in in Quanta customers visible industry transition the economy, necessary energy a to experts Quanta on order effort areas are generation, do the require our leading capitalize great In is and trillions all large dollars leader. the of industry renewable of where to storage opportunities resources an ahead investing is needs meet us, and lower customers of investment, believe carbon of towards to which investment
training world-class and ensure recruiting enhancing adding and workforce We with operations leadership our are efforts and management. innovative a our and we have safety, to to
investing capital also are and making and initiatives equipment and value-creating We acquisitions organic facilities to further support evaluating that in growth. our strategic
financial As market consolidated we and of solid results confident favorable our remain a end XXXX overall year-to-date financial result drivers, in continued expectations. our
by We business and the transmission growth XXXX customers, momentum, opportunities are our profitable and existing generation driven spending larger for programmatic growth growing and also our that new renewable with projects. believe opportunities in approach, solutions-based for gaining activity electric of
distinguish to for business the operating to through best-in-class ourselves build expect the and on long focused are term leadership. safe We continue and execution
leadership provide for pursue mindset the third that We believe XXXX will to in us base expectations. solutions We opportunities Quanta's diversity, will industry over the continue model Quanta's our allow and operating the I customers. form foundation to will CFO, for and to enhance call turn our generate to review of unique entrepreneurial innovative and position Desai, the business now Jayshree our long-term quarter value Jayshree? results and her to stakeholders.
