EX-99.2

Exhibit 99.2


		Quanta Services, Inc. and Subsidiaries Supplemental Segment Data Recast for New Segments (In thousands, except percentages) (Unaudited)

Beginning in the three months ending March 31, 2025, Quanta Services, Inc.’s (Quanta, we, us or our) Chief Executive Officer reevaluated how he assesses performance and allocates resources, which resulted in a change in the reporting of management’s internal financial information. As a result, Quanta will begin reporting the results of its two operating segments, which will also be its two reportable segments: (1) Electric Infrastructure Solutions and (2) Underground Utility and Infrastructure Solutions. The Electric Infrastructure Solutions segment will consist of the historical Electric Power Infrastructure Solutions and Renewable Energy Infrastructure Solutions segments. As a result, Quanta is providing an unaudited presentation of its recast segment data for the quarterly and

year-to-date

periods indicated in the tables below. Operating margins are calculated by dividing operating income by revenues. This unaudited recast information is also available on Quanta’s website at www.quantaservices.com in the “Investors” section.


	Three Months Ended March 31,			Three Months Ended June 30,			Six Months Ended June 30,			Three Months Ended September 30,			Nine Months Ended September 30,			Three Months Ended December 31,			Twelve Months Ended December 31,
	2024			2024			2024			2024			2024			2024			2024
Revenues :
Electric Infrastructure Solutions (a)	$	3,911,124		$	4,486,880		$	8,398,004		$	5,233,887		$	13,631,891		$	5,380,488		$	19,012,379
Underground and Utility Infrastructure Solutions		1,120,695			1,107,507			2,228,202			1,259,280			3,487,482			1,172,934			4,660,416

Consolidated revenues	$	5,031,819		$	5,594,387		$	10,626,206		$	6,493,167		$	17,119,373		$	6,553,422		$	23,672,795

Operating income (loss) :
Electric Infrastructure Solutions (a) (b)	$	302,871		$	426,581		$	729,452		$	576,014		$	1,305,466		$	653,226		$	1,958,692
Underground and Utility Infrastructure Solutions (c)		46,888			81,593			128,481			93,956			222,437			42,593			265,030
Corporate and Non-Allocated Costs (d)		(194,405	)		(200,944	)		(395,349	)		(238,809	)		(634,158	)		(243,096	)		(877,254	)

Consolidated operating income	$	155,354		$	307,230		$	462,584		$	431,161		$	893,745		$	452,723		$	1,346,468

Operating margin :
Electric Infrastructure Solutions		7.7	%		9.5	%		8.7	%		11.0	%		9.6	%		12.1	%		10.3	%
Underground and Utility Infrastructure Solutions		4.2	%		7.4	%		5.8	%		7.5	%		6.4	%		3.6	%		5.7	%
Corporate and Non-Allocated Costs		(3.9	)%		(3.6	)%		(3.7	)%		(3.7	)%		(3.7	)%		(3.7	)%		(3.7	)%
Consolidated operating margin		3.1	%		5.5	%		4.4	%		6.6	%		5.2	%		6.9	%		5.7	%

See notes to follow.

(a)

During the three and twelve months ended December 31, 2024, revenue of $30.2 million was recognized in the Electric Infrastructure Solutions segment in connection with payments received pursuant to an arbitration award related to a large telecommunications project in Peru that was terminated during 2019. The segment operating income impact related to this award was $20.7 million, including the reimbursement of certain cost of services and net of $18.5 million of foreign currency translation losses in connection with Quanta’s substantial liquidation from Latin American operations.

(b)

Included in operating income for the Electric Infrastructure Solutions segment was equity in earnings of integral unconsolidated affiliates of $12.3 million, $8.6 million, $14.0 million and $15.5 million for the three months ended March 31, 2024, June 30, 2024, September 30, 2024 and December 31, 2024.

(c)	Included in operating income for the Underground Utility and Infrastructure Solutions segment were losses of $10.7 million, $0.5 million and $0.7 million during the three months ended March 31, 2024, June 30, 2024 and September 30, 2024 on the disposition of a non-core business.

(d)

Included in corporate and

non-allocated

costs was, among other things, amortization expense of $77.5 million, $79.2 million, $110.4 million and $115.8 million and acquisition and integration costs of $9.6 million, $8.9 million, $7.1 million and $4.5 million for the three months ended March 31, 2024, June 30, 2024, September 30, 2024 and December 31, 2024.


		Quanta Services, Inc. and Subsidiaries Supplemental Segment Data Recast for New Segments Continued (In thousands, except percentages) (Unaudited)


	Three Months Ended March 31,			Three Months Ended June 30,			Six Months Ended June 30,			Three Months Ended September 30,			Nine Months Ended September 30,			Three Months Ended December 31,			Twelve Months Ended December 31,
	2023			2023			2023			2023			2023			2023			2023
Revenues :
Electric Infrastructure Solutions	$	3,344,337		$	3,804,622		$	7,148,959		$	4,236,183		$	11,385,142		$	4,482,056		$	15,867,198
Underground and Utility Infrastructure Solutions		1,084,489			1,243,988			2,328,477			1,384,639			3,713,116			1,301,892			5,015,008

Consolidated revenues	$	4,428,826		$	5,048,610		$	9,477,436		$	5,620,822		$	15,098,258		$	5,783,948		$	20,882,206

Operating income (loss) :
Electric Infrastructure Solutions (a)	$	250,805		$	354,504		$	605,309		$	447,565		$	1,052,874		$	437,684		$	1,490,558
Underground and Utility Infrastructure Solutions		61,573			107,207			168,780			123,764			292,544			85,433			377,977
Corporate and Non-Allocated Costs (b)		(186,518	)		(182,438	)		(368,956	)		(171,000	)		(539,956	)		(200,603	)		(740,559	)

Consolidated operating income	$	125,860		$	279,273		$	405,133		$	400,329		$	805,462		$	322,514		$	1,127,976

Operating margin :
Electric Infrastructure Solutions		7.5	%		9.3	%		8.5	%		10.6	%		9.2	%		9.8	%		9.4	%
Underground and Utility Infrastructure Solutions		5.7	%		8.6	%		7.2	%		8.9	%		7.9	%		6.6	%		7.5	%
Corporate and Non-Allocated Costs		(4.2	)%		(3.6	)%		(3.9	)%		(3.0	)%		(3.6	)%		(3.5	)%		(3.5	)%
Consolidated operating margin		2.8	%		5.5	%		4.3	%		7.1	%		5.3	%		5.6	%		5.4	%

(a)

Included in operating income for the Electric Infrastructure Solutions segment was equity in earnings of integral unconsolidated affiliates of $9.6 million, $9.4 million, $11.7 million and $10.9 million for the three months ended March 31, 2023, June 30, 2023, September 30, 2023 and December 31, 2023.

(b)

Included in corporate and

non-allocated

costs was amortization expense of $72.4 million, $70.0 million, $71.4 million and $75.2 million and acquisition and integration costs of $19.9 million, $2.3 million, $4.2 million and $16.5 million for the three months ended March 31, 2023, June 30, 2023, September 30, 2023 and December 31, 2023.

Quanta Services, Inc. and Subsidiaries

Supplemental Data Recast for New Segments

(In thousands)

(Unaudited)

Remaining Performance Obligations and Backlog (a non-GAAP financial measure)

As mentioned above, beginning in the three months ending March 31, 2025, Quanta will report its results under two reportable segments: (1) Electric Infrastructure Solutions and (2) Underground and Utility Infrastructure Solutions. As a result, Quanta is providing an unaudited presentation of its recast remaining performance obligations and backlog data for the periods indicated in the tables below. This unaudited recast information is also available on Quanta’s website at www.quantaservices.com in the “Investors” section.

Quanta’s remaining performance obligations represent management’s estimate of consolidated revenues that are expected to be realized from the remaining portion of firm orders under fixed price contracts not yet completed or for which work has not yet begun, which includes estimated revenues attributable to consolidated joint ventures and variable interest entities, revenues from funded and unfunded portions of government contracts to the extent they are reasonably expected to be realized, and revenues from change orders and claims to the extent management believes they will be earned and are probable of collection.

Quanta has also historically disclosed its backlog, a measure commonly used in its industry but not recognized under generally accepted accounting principles in the United States (GAAP). Quanta believes this measure enables management to more effectively forecast its future capital needs and results and better identify future operating trends that may not otherwise be apparent. Quanta believes this measure is also useful for investors in forecasting Quanta’s future results and comparing Quanta to its competitors. Quanta’s remaining performance obligations, as described above, are a component of its backlog calculation, which also includes estimated orders under master service agreements (MSAs), including estimated renewals, and certain non-fixed price contracts. Quanta’s methodology for determining backlog may not be comparable to the methodologies used by other companies. The following table reconciles Quanta’s total remaining performance obligations to total backlog by reportable segment (recast as described above), along with estimates of amounts expected to be realized within 12 months. The following tables show dollars in thousands.


	March 31, 2024				June 30, 2024				September 30, 2024				December 31, 2024
	12 Month		Total		12 Month		Total		12 Month		Total		12 Month		Total
Electric Infrastructure Solutions
Remaining performance obligations	$	8,701,452	$	13,709,083	$	8,255,407	$	12,933,062	$	9,507,220	$	14,219,815	$	10,297,410	$	15,654,028
Estimated orders under MSAs and short-term, non-fixed price contracts		4,992,689		10,085,538		5,205,782		12,071,275		6,236,442		13,301,339		6,198,603		12,973,779

Backlog		13,694,141		23,794,621		13,461,189		25,004,337		15,743,662		27,521,154		16,496,013		28,627,807

Underground and Utility Infrastructure Solutions
Remaining performance obligations		912,482		1,173,586		1,195,150		1,436,069		1,161,919		1,389,715		953,983		1,104,609
Estimated orders under MSAs and short-term, non-fixed price contracts		2,029,477		4,929,704		1,962,185		4,870,392		2,220,595		5,053,421		2,321,941		4,806,408

Backlog		2,941,959		6,103,290		3,157,335		6,306,461		3,382,514		6,443,136		3,275,924		5,911,017

Total
Remaining performance obligations		9,613,934		14,882,669		9,450,557		14,369,131		10,669,139		15,609,530		11,251,393		16,758,637
Estimated orders under MSAs and short-term, non-fixed price contracts		7,022,166		15,015,242		7,167,967		16,941,667		8,457,037		18,354,760		8,520,544		17,780,187

Backlog	$	16,636,100	$	29,897,911	$	16,618,524	$	31,310,798	$	19,126,176	$	33,964,290	$	19,771,937	$	34,538,824

Quanta Services, Inc. and Subsidiaries

Supplemental Data Recast for New Segments

Continued

(In thousands)

(Unaudited)


	March 31, 2023				June 30, 2023				September 30, 2023				December 31, 2023
	12 Month		Total		12 Month		Total		12 Month		Total		12 Month		Total
Electric Infrastructure Solutions
Remaining performance obligations	$	6,335,519	$	9,067,413	$	7,632,776	$	10,930,424	$	8,405,788	$	12,097,043	$	8,274,767	$	12,511,198
Estimated orders under MSAs and short-term, non-fixed price contracts		5,311,571		9,901,140		5,066,413		9,660,960		5,414,875		11,238,158		5,716,502		11,114,832

Backlog		11,647,090		18,968,553		12,699,189		20,591,384		13,820,663		23,335,201		13,991,269		23,626,030

Underground and Utility Infrastructure Solutions
Remaining performance obligations		1,052,322		1,189,173		1,184,061		1,546,395		1,143,729		1,464,623		1,017,227		1,383,057
Estimated orders under MSAs and short-term, non-fixed price contracts		1,928,761		5,116,471		1,755,797		5,057,435		2,054,024		5,295,722		2,222,451		5,099,332

Backlog		2,981,083		6,305,644		2,939,858		6,603,830		3,197,753		6,760,345		3,239,678		6,482,389

Total
Remaining performance obligations		7,387,841		10,256,586		8,816,837		12,476,819		9,549,517		13,561,666		9,291,994		13,894,255
Estimated orders under MSAs and short-term, non-fixed price contracts		7,240,332		15,017,611		6,822,210		14,718,395		7,468,899		16,533,880		7,938,953		16,214,164

Backlog	$	14,628,173	$	25,274,197	$	15,639,047	$	27,195,214	$	17,018,416	$	30,095,546	$	17,230,947	$	30,108,419