Acquisitions, including Cupertino Electric (CEI), contributed significantly to revenue growth in the Electric Power and Renewable Energy segments. CEI's results have been included since the acquisition date in July 2024.

Quanta is strategically shifting its focus towards electric power infrastructure and renewable energy infrastructure, driven by increasing demand for electricity and renewable generation. This is evidenced by the growth in the Electric Power and Renewable Energy segments, as well as the strategic acquisitions in these areas.

Quanta strategically focuses on regulated utility spending, regulation, replacement and rehabilitation of aging infrastructure, and safety and environmental initiatives, including gas utility services, pipeline integrity and transmission services and downstream industrial services. Company believes this strategic decision provides a greater level of business sustainability and predictability and helps to offset the cyclicality of larger pipeline projects.

The 10-K states that while supply chain challenges and other factors have resulted in project delays in the past, management has been able to navigate these challenges and continue to deliver services to customers. This demonstrates effective management in a difficult operating environment.

The 10-K emphasizes the importance of attracting, developing, and retaining qualified employees. Management has invested in training facilities and programs, and has established strategic relationships with universities, the military, and unions to address workforce needs.

The 10-K states that management considers climate-related risks and opportunities in connection with its long-term strategic planning and enterprise risk management process. This proactive approach demonstrates a commitment to addressing climate change and adapting the company's business model to the evolving energy landscape.

The 10-K acknowledges that climate change can cause extreme weather events that disrupt operations and increase costs. However, it also notes that the transition to renewable energy and grid modernization creates new opportunities for the company.

The 10-K recognizes the increasing sophistication of cyberattacks and the potential for disruptions to information technology systems and confidential information. The company has implemented a cybersecurity risk management program, but there is no guarantee that it will prevent all threats.

The 10-K acknowledges the ongoing need for additional labor resources and the potential for demand to outpace supply. This could increase labor expenses and limit the company's ability to take advantage of available opportunities.

The 10-K states that the industries and geographic markets in which the company operates are highly competitive. To maintain or enhance its competitive position, the company must provide services that are superior in both price and quality, or that it will be able to maintain or enhance its competitive position.

The 10-K states that the company is a preferred service provider for many of its customers, which generally means it has met minimum standards for a specific category of service, maintained a high level of performance and agreed to certain payment terms and negotiated rates. The company strives to maintain its preferred status as it believes it provides it an advantage in the award of future work for the applicable customer.

The 10-K states that the in-house service organizations of existing or prospective customers employ personnel who perform some of the same types of services the company provides. Although these companies currently outsource a significant portion of these services, there can be no assurance that they will continue to do so in the future or that they will not acquire additional in-house capabilities.

The 10-K emphasizes the importance of efficiently allocating equipment, including the vehicle fleet, across operating companies to perform services and maintain profitability. Significant resources and management attention are dedicated to equipment utilization.

The 10-K states that revenues and results of operations are subject to seasonal variations. Cold, snowy, or wet conditions can create challenging working environments, impacting productivity and increasing costs.

The 10-K identifies supply chain and logistical challenges as factors that can increase costs for equipment and project materials. These issues can impact the company's ability to efficiently allocate equipment and perform services.

The 10-K notes that Quanta has invested in various proprietary technologies that enhance its service offerings. These technologies are used to improve efficiency, safety, and quality of services.

The 10-K states that the technology industry is investing significant capital in the build out of data centers in order to expand cloud-based services and develop artificial intelligence (AI) training and inference. These facilities consume significant electricity and are a meaningful driver of increasing load demand throughout our service geographies.

The 10-K states that utilities are integrating smart grid technologies into distribution systems to improve grid management and create efficiencies. This integration is being done in order to reliably and efficiently deliver power and in preparation for emerging technologies, such as EVs.

The 10-K highlights the strategic acquisition of businesses as a key capital allocation priority. These acquisitions are intended to broaden the customer base, expand the geographic area of operations, and grow and diversify the portfolio of products and services.

The 10-K states that the company's strategies include delivering and continuing to expand its portfolio of infrastructure solutions to existing and potential customers, developing technological and training capabilities, remaining committed to the safety of its employees, and maintaining an entrepreneurial culture throughout the organization.

The 10-K states that the company's capital allocation priorities include the return of capital to stockholders, including through the payment of dividends and repurchases of its outstanding common stock. The company has declared a quarterly dividend during each quarter beginning in the fourth quarter of 2018, and it currently expects that comparable cash dividends will continue to be paid for the foreseeable future.

The 10-K states that management considers climate-related risks and opportunities in connection with its long-term strategic planning and enterprise risk management process, which are overseen by the Board.

The 10-K states that all of the company's employees are subject to Quanta's Code of Conduct, which addresses compliance with applicable laws and Quanta's policies concerning, among other things, general business ethics, competition, anti-corruption and bribery, environmental protection, conflicts of interest, harassment and discrimination, data security and privacy, and insider trading.

The 10-K states that performance of the company's services requires the use of heavy equipment and exposure to inherently hazardous conditions. In response to these inherent hazards and as part of its commitment to the safety of its employees, customers and third parties, its corporate and operating company management personnel have established safety programs, policies and procedures and ongoing training requirements for its employees and have also developed and implemented critical safety equipment and innovations.

The 10-K states that stagnant or declining economic conditions, as well as significant events that have an impact on financial or capital markets, can adversely impact the demand for the company's services and result in the delay, reduction or cancellation of certain projects.

The 10-K states that regulatory requirements applicable to the company's business and potential changes related to those requirements may adversely affect its business.

The 10-K states that technological advancements, market developments and other factors may increase the company's costs or alter its customers' existing operating models or the services they require, which could result in reduced demand for its services.