2 paragraphs in Risk Factors of the 10-K filed Feb 19, 2026
with nothing like them in the 10-K filed Feb 20, 2025. Quoted exactly.
Paragraphs that were only edited are under 10-K change.
Compared with the Risk Factors in the latest 10-K of the other 81 Industrials companies:
a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it.
A paragraph most of them have is marked boilerplate. No line means no other company has one like it.
This counts text; it does not say how serious a risk is.
risk management program and processes, including policies, controls and procedures, designed to apply to our operating companies will be fully implemented, complied with or effective in protecting all information systems and operations.
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performance of our investments or an investment fund in which we participate, or based on the actions or conduct of the entities in which we are invested or our partners in such investments, all of which may be outside of our control. Any such reputational harm could adversely affect our ability to secure certain future projects or participate in future investment opportunities. Further, our relationship with a customer or investor that partners with us in a poorly performing investment could become impaired, which may negatively impact our ability to continue providing services to that customer.
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New in the latest 10-Q
9 paragraphs in the 10-Q filed Oct 29, 2026 with nothing like
them in the 10-Q filed Jul 30, 2026 (at least half the words must differ; new numbers alone do not count).
Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
10-Q
recessionary economic conditions, deterioration of global or specific trade relationships, and geopolitical conflicts and political unrest;
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Financial statements and notes
Nine Months Ended September 30, 2026 2025 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────── Cash Flows from Operating Activities: Net income $1,397,921 $ 725,331 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 350,819 300,714 Amortization of intangible assets 497,970 355,935 Non-cash stock-based compensation 193,939 129,121 Other non-cash adjustments, net 54,201 91,582 Changes in assets and liabilities, net of non-cash transactions: Accounts, notes and retainage receivable (2,647,441) (780,448) Contract assets (510,907) (321,659) Inventories (109,832) (70,821) Prepaid expenses and other current assets (135,708) (135,670) Accounts payable and accrued expenses, insurance and other non-current liabilities 1,929,344 701,740 Contract liabilities 1,983,686 124,823 Other assets and liabilities, net (63,063) (18,243) Net cash provided by operating activities 2,940,929 1,102,405 Cash Flows from Investing Activities: Capital expenditures (719,005) (415,560) Proceeds from sale of and insurance settlements related to property and equipment 47,832 39,439 Cash paid for acquisitions, net of cash, cash equivalents and restricted cash acquired (1,095,815) (1,783,250) Investments in unconsolidated affiliates and other (49,957) (149,201) Other, net 14,812 22,886 Net cash used in investing activities (1,802,133) (2,285,686) Cash Flows from Financing Activities: Borrowings under credit facility and commercial paper program 44,046,572 36,838,696 Payments under credit facility and commercial paper program (45,015,979) (36,889,918) Net proceeds from notes offerings 1,984,335 1,488,995 Borrowings of short-term debt 104,480 — Payments of short-term debt (104,480) — Payments of contingent consideration liabilities recorded at acquisition date (7,246) (102,558) Payments related to tax withholding for stock-based compensation (174,685) (97,610) Payments of dividends (50,901) (45,387) Repurchase of common stock — (134,555) Other, net (56,748) (26,254) Net cash provided by financing activities 725,348 1,031,409 Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 14,322 19,538 Net increase (decrease) in cash, cash equivalents and restricted cash 1,878,466 (132,334) Cash, cash equivalents and restricted cash, beginning of period 442,823 746,010 Cash, cash equivalents and restricted cash, end of period $2,321,289 $ 613,676
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steel structures, as well as high-mast and other lighting towers and structures (which will primarily be included in the Electric segment).
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(1) Performance stock units (PSUs) are included in the weighted-average common equivalent shares based on the number of shares that would be issued if the performance period ended on the last day of the reporting period, if the result would be dilutive.
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In August 2026, Quanta issued $ 2.00 billion aggregate principal amount of senior notes consisting of $ 500.0 million aggregate principal amount of 4.85 % senior notes due August 2029 (the 2029 notes), $ 750.0 million aggregate principal amount of 5.30 % senior notes due August 2033 (the 2033 notes) and $ 750.0 million aggregate principal amount of 5.55 % senior notes due August 2036 (the 2036 notes). The cumulative proceeds from the public offering of the 2029 notes, 2033 notes and 2036 notes were $ 1.98 billion, net of the original issue discount, underwriting discounts and deferred financing costs. The 2029 notes, 2033 notes and 2036 notes rank equally in right of payment with all of Quanta’s existing and future senior unsecured indebtedness. Quanta used a portion of the proceeds to repay certain outstanding borrowings and the remainder has been or will be utilized for general corporate purposes.
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As of September 30, 2026, Quanta had no outstanding unsecured notes under its commercial paper program.
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In August 2026, we issued $2.00 billion aggregate principal amount of senior notes and received net proceeds of $1.98 billion, net of the original issue discount, underwriting discounts and deferred financing costs. We used a portion of the proceeds to repay certain outstanding borrowings and the remainder has been or will be utilized for general corporate purposes. Our debt financing arrangements are more fully described in Note 7 of the Notes to Condensed Consolidated Financial Statements in Item 1. Financial Statements of Part I of this Quarterly Report.
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times we may choose to maintain a portion of our workforce and equipment in an underutilized capacity to ensure we are strategically positioned to deliver on larger projects when they move forward.
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Other (expense) income, net. The net other expense for the nine months ended September 30, 2026 included $10.4 million of decrease in fair value of non-marketable equity security investments, net; $10.1 million of equity in losses from non-integral unconsolidated affiliates; and $7.4 million related to foreign currency losses.
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The 10-Q's risk factors against the 10-K
Item 1A of the 10-Q filed Oct 29, 2026 against Item 1A of the 10-K filed Feb 19, 2026.
A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed.
Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed,
Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal
(cut words struck through, new words highlighted and underlined).
Text on the page, not a score; each links to the filing at sec.gov.
Reworded10-Q 2026-10-29 vs 10-K 2026-02-19
If any of the following these risks actually and uncertainties occur, our business, financial condition, results of operations and cash flows can could be negatively affected, which could negatively impact the value of securities we have issued could be adversely affected, resulting an investment in stockholders and purchasers losing part or all of their investment, and we may not be able to achieve our strategic initiatives or expectations. company.
Read it in the 10-Q at sec.gov ↗ · The 10-K sentence ↗
Reworded10-Q 2026-10-29 vs 10-K 2026-02-19
Our business is subject to a variety of risks and uncertainties, including, but not limited to, the material risks uncertainties that are difficult to predict and uncertainties described below. many of which are outside of our control.
Read it in the 10-Q at sec.gov ↗ · The 10-K sentence ↗
Reworded10-Q 2026-10-29 vs 10-K 2026-02-19
The matters described below specifically identified are not the only risks and uncertainties facing our company, and risks and uncertainties not known to us or not described below specifically identified also may impair our business operations.
Read it in the 10-Q at sec.gov ↗ · The 10-K sentence ↗
