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Cover and table of contents

UNITED STATES SECURITIES AND EXC****HANGE COMMISSION

Washington, D.C. 20549


Form 10-K

(Mark One)
þANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2018

¨TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number 001-13831

Quanta Services, Inc.

(Exact name of registrant as specified in its charter)

Delaware74-2851603
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)

2800 Post Oak Boulevard, Suite 2600

Houston, Texas 77056

(Address of principal executive offices, including zip code)

(713) 629-7600

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of Each ClassName of Exchange on Which Registered
Common Stock, $0.00001 par valueNew York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act:

Title of Each Class

None

Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes þ No o

Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes o No þ

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No o

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes þ No o

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of Registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. o

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer þAccelerated filer o
Non-accelerated filer oSmaller reporting company o
Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No þ

As of June 29, 2018 (the last business day of the Registrant’s most recently completed second fiscal quarter), the aggregate market value of the Common Stock of the Registrant held by non-affiliates of the Registrant, based on the last sale price of the Common Stock reported by the New York Stock Exchange on such date, was $4.9 billion.

As of February 21, 2019, the number of outstanding shares of Common Stock of the Registrant was 141,356,413. As of the same date, 36,183 exchangeable shares of a Canadian subsidiary of the Registrant were outstanding.

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the Registrant’s Definitive Proxy Statement for the 2019 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K.

QUANTA SERVICES, INC.

ANNUAL REPORT ON FORM 10-K

For the Year Ended December 31, 2018

INDEX

Page
Number
PART I
ITEM 1.Business2
ITEM 1A.Risk Factors8
ITEM 1B.Unresolved Staff Comments28
ITEM 2.Properties28
ITEM 3.Legal Proceedings28
ITEM 4.Mine Safety Disclosures28
PART II
ITEM 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities29
ITEM 6.Selected Financial Data32
ITEM 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations34
ITEM 7A.Quantitative and Qualitative Disclosures About Market Risk64
ITEM 8.Financial Statements and Supplementary Data66
ITEM 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure118
ITEM 9A.Controls and Procedures118
ITEM 9B.Other Information119
PART III
ITEM 10.Directors, Executive Officers and Corporate Governance120
ITEM 11.Executive Compensation120
ITEM 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters120
ITEM 13.Certain Relationships and Related Transactions, and Director Independence120
ITEM 14.Principal Accounting Fees and Services120
PART IV
ITEM 15.Exhibits and Financial Statement Schedules121
ITEM 16.Form 10-K Summary127
SIGNATURES128

PART I

Next: Item 1. Business