MasTec Inc
NYSE:MTZ
MasTec Inc
MasTec Inc., headquartered in Coral Gables, Florida, is a formidable player in the realm of infrastructure engineering and construction services. Established in 1929, the company has mastered the art of diversification and specialization across a broad spectrum of sectors. By harnessing its robust expertise, MasTec caters to industries ranging from telecommunications to energy and utility, oil and gas, and even clean renewable energy. It capitalizes on the growing demand for advanced infrastructure by designing, building, installing, and maintaining systems that power the daily flow of modern conveniences. MasTec’s acumen in integrating state-of-the-art technology helps it stay ahead of market demands, ensuring that vital communication networks, pipelines, and utility systems operate efficiently and effectively.
Revenue streams for MasTec are as varied as its service offerings. The telecommunications division, a significant contributor, is fueled by the ever-increasing reliance on digital connectivity and wireless technologies. Notably, MasTec has adeptly positioned itself within the 5G rollout, capturing substantial contracts from major carriers. Simultaneously, its energy sector, benefiting from both traditional and renewable sources, secures substantial projects in oil extraction, pipelines, and sustainable wind and solar energy systems. Furthermore, their work with government contracts and public utilities adds a foundation of stability and predictability to their financial performance. By leveraging expertise and maintaining a strategic focus on sectors with enduring growth potential, MasTec continues to fortify its standing as a leader capable of navigating the complexities of evolving infrastructure demands.
MasTec Inc., headquartered in Coral Gables, Florida, is a formidable player in the realm of infrastructure engineering and construction services. Established in 1929, the company has mastered the art of diversification and specialization across a broad spectrum of sectors. By harnessing its robust expertise, MasTec caters to industries ranging from telecommunications to energy and utility, oil and gas, and even clean renewable energy. It capitalizes on the growing demand for advanced infrastructure by designing, building, installing, and maintaining systems that power the daily flow of modern conveniences. MasTec’s acumen in integrating state-of-the-art technology helps it stay ahead of market demands, ensuring that vital communication networks, pipelines, and utility systems operate efficiently and effectively.
Revenue streams for MasTec are as varied as its service offerings. The telecommunications division, a significant contributor, is fueled by the ever-increasing reliance on digital connectivity and wireless technologies. Notably, MasTec has adeptly positioned itself within the 5G rollout, capturing substantial contracts from major carriers. Simultaneously, its energy sector, benefiting from both traditional and renewable sources, secures substantial projects in oil extraction, pipelines, and sustainable wind and solar energy systems. Furthermore, their work with government contracts and public utilities adds a foundation of stability and predictability to their financial performance. By leveraging expertise and maintaining a strategic focus on sectors with enduring growth potential, MasTec continues to fortify its standing as a leader capable of navigating the complexities of evolving infrastructure demands.
Record Revenue: MasTec reported Q4 revenue just under $4 billion, up 16% year-over-year, with full-year 2025 revenue hitting a record $14.3 billion, also up 16%.
Profit Growth: Adjusted EBITDA for Q4 reached $338 million, up 25% year-over-year; full-year EBITDA was $1.15 billion, up 14%. Adjusted EPS for Q4 was $2.07, a 44% increase.
Across-the-Board Beats: The company exceeded guidance for revenue, EBITDA, and EPS, driven by strong execution across all business segments.
Backlog Expansion: Backlog grew over $4.5 billion (up 33% year-over-year) with a 1.6x book-to-bill; data center-related backlog now near $1 billion.
Strong 2026 Outlook: 2026 revenue is expected to reach $17 billion (up 19%), with adjusted EBITDA forecast at $1.45 billion (up 26%) and adjusted EPS at $8.40 (up nearly 30%).
Margin Upside: Management targets double-digit margins in key segments, with company-wide margin guidance up 50 basis points to 8.5% in 2026.
Strategic M&A: Recent acquisitions (NV2A in construction management and McKee Utility in water infrastructure) expand MasTec’s capabilities and growth potential.
Cash Flow Strength: Full-year 2025 operating cash flow was $546 million, with over $1 billion targeted for 2026.
