PWRQuanta Services

Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).

“For example, our ten largest customers accounted for 30% of our consolidated revenues for the year ended December 31, 2025.”

Read it in the 10-K ↗

“No customer represented 10% or more of Quanta’s consolidated revenues for the years ended December 31, 2025, 2024 or 2023, and no customer represented 10% or more of Quanta’s consolidated receivable position as of December 31, 2025 or 2024.”

Read it in the 10-K ↗

Parts or manufacturing that depend on one or a few suppliers.

No specific sentence about this in the 10-K.

Pending cases, settlements and what the company has set aside for them.

New “From 2022 to present, two of Quanta’s subsidiaries have received tenders of defense and demands for preservation of evidence from Southern California Edison Company (SCE) related to lawsuits filed against SCE and T-Mobile USA, Inc.”

Read it in the 10-K ↗

“The lawsuits generally assert property damage and related claims on behalf of certain individuals and subrogation claims on behalf of insurers relating to damages caused by a wildfire that began in October 2020 in Orange County, California (the Silverado Fire) and that is purported to have damaged approximately 13,000 acres.”

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Promises to pay someone else's debts or losses if they cannot.

No specific sentence about this in the 10-K.

Conditions in loan agreements that, if broken, can make debt due early.

“The Incremental Leverage Ratio Requirement requires, among other things, after giving pro forma effect to such increase and the use of proceeds therefrom, compliance with the credit agreement’s financial covenants as of the most recent fiscal quarter end for which financial statements were required to be delivered.”

Read it in the 10-K ↗

“The credit agreement contains certain covenants, including, as of the end of any fiscal quarter of Quanta, (i) a maximum Consolidated Leverage Ratio (as defined in the credit agreement) of 3.5 to 1.0 (except that in connection with certain permitted acquisitions in excess of $200.0 million, such ratio is 4.0 to 1.0 for the fiscal quarter in which the acquisition is completed and the four subsequent fiscal quarters) and (ii) a minimum Consolidated Interest Coverage Ratio (as defined in the credit agreement) of 3.0 to 1.0.”

Read it in the 10-K ↗

“As of December 31, 2025, Quanta was in compliance with all of the financial covenants under the credit agreement.”

Read it in the 10-K ↗

“The credit agreement allows cash payments for dividends and stock repurchases subject to compliance with the following requirements (including after giving effect to the dividend or stock repurchase): (i) no default or event of default under the credit agreement; (ii) continued compliance with the financial covenants in the credit agreement; and (iii) at least $100.0 million of availability under the senior credit facility and/or cash and cash equivalents on hand.”

Read it in the 10-K ↗

Contracts the company must pay for later: purchase obligations, take-or-pay deals.

No specific sentence about this in the 10-K.