Company Reports

MasTec reported second-quarter sales growth of 23% year over year, driven by 43% growth in the clean energy and infrastructure segment. Management raised full-year revenue and earnings per share guidance, but shares traded down nearly 20% following the earnings release.

We are transferring coverage of Quanta Services and MasTec, two engineering and construction firms serving the utility, telecommunications, oil and gas, and renewable energy markets.

MasTec is a specialty contractor serving customers in the telecom, renewable energy, utility, and oil and gas pipeline end markets. The company operates through four segments: communications, clean energy and infrastructure, power delivery, and pipeline infrastructure.

MasTec is a leading infrastructure construction company for customers in the telecom, renewable energy, utility, and oil and gas pipeline end markets. It primarily operates in North America.

MasTec held its Investor Day on May 12. Its presentation focused on three major themes driving long-term topline growth: AI-driven power demand growth, expanding broadband fiber connectivity, and grid modernization from the energy transition.

MasTec had a strong first quarter, with revenue rising 34% year on year and adjusted EBITDA margin up 170 basis points. More importantly, the 18-month backlog rose a resounding 28% year on year, driving MasTec's stock price marginally higher on the trading date.

MasTec is a leading infrastructure construction company for customers in the telecom, renewable energy, utility, and oil and gas pipeline end markets. It primarily operates in North America.

MasTec is a leading infrastructure construction company for customers in the telecom, renewable energy, utility, and oil and gas pipeline end markets. It primarily operates in North America.

MasTec’s fourth-quarter revenue of $4.0 billion exceeded guidance, while adjusted EBITDA of $338 million grew 25% year over year. 2026 guidance calls for $17 billion in revenue (up 19%) and $1.45 billion in EBITDA (up 26%).

MasTec is a leading infrastructure construction company for customers in the telecom, renewable energy, utility, and oil and gas pipeline end markets. It primarily operates in North America.

MasTec's third-quarter revenue of $4.0 billion was 2% above guidance, while EBITDA was in line. Management increased its full-year revenue guidance marginally and left EBITDA guidance essentially unchanged.

MasTec is a leading infrastructure construction company for customers in the telecom, renewable energy, utility, and oil and gas pipeline end markets. It primarily operates in North America.

MasTec's second-quarter revenue of $3.5 billion was 4% above guidance, while EBITDA was in line. Management increased full-year revenue guidance by 3% and left EBITDA guidance essentially unchanged.

MasTec is a leading infrastructure construction company for customers in the telecom, renewable energy, utility, and oil and gas pipeline end markets. It primarily operates in North America.

On May 12 the House Ways and Means Committee released its long-awaited budget reconciliation bill. The bill includes updates to key clean energy incentives established or extended under the Inflation Reduction Act.

MasTec reported first-quarter revenue and EBITDA above guidance and modestly increased its 2025 outlook. Revenue and EBITDA expectations for the full-year were increased approximately 1% compared with prior guidance.

MasTec is a leading infrastructure construction company for customers in the telecom, renewable energy, utility, and oil and gas pipeline end markets. It primarily operates in North America.

MasTec reported fourth-quarter revenue and EBITDA above guidance. It also provided a 2025 outlook for revenue to grow 9% year on year and EBITDA margin to expand 20 basis points to 8.4%.

MasTec is a leading infrastructure construction company for customers in the telecom, renewable energy, utility, and oil and gas pipeline end markets. It primarily operates in North America.

We have consolidated our recent DeepSeek-related coverage in this note. Artificial intelligence affects companies across much of our coverage, including semiconductors, cloud infrastructure, software, utilities, and energy.