MasTec Boosts 2025 Revenue Forecast to $14B Amid Backlog Growth and Strong Segment Performance

MasTec has raised its full-year 2025 revenue guidance to $14B, driven by double-digit backlog growth and robust segment momentum. CEO Jose Ramon Mas reported Q2 revenue exceeded guidance, with non-pipeline business revenue increasing 26%, primarily due to Power Delivery. EBITDA met expectations and EPS guidance was beaten.

MasTec, Inc. (NYSE: MTZ) today announced its second-quarter 2025 financial results and updated full-year 2025 financial guidance. The company reported a 20% year-over-year increase in revenue to $3.5 billion, setting a new quarterly record. The non-pipeline segments contributed to 25% of the combined growth, while the Pipeline Infrastructure segment saw a 6% decrease due to large contract close-outs from the previous year. The 18-month backlog as of June 30, 2025, increased 23% year-over-year to $16.5 billion.

The company's diluted earnings per share (EPS) of $1.09 and adjusted diluted EPS of $1.49 exceeded guidance expectations, increasing by 153% and 49% year-over-year, respectively. GAAP net income of $90.1 million was above expectations by $2.1 million, while adjusted EBITDA of $274.8 million met expectations. The company also raised its full-year 2025 revenue guidance to $14 billion, driven by double-digit backlog growth and robust segment momentum.

Jose Ramon Mas, CEO of MasTec, stated, "We are pleased that second quarter financial performance exceeded guidance with respect to both revenue and earnings growth as MasTec continues to take advantage of an exceptionally strong demand climate and execute cleanly against this opportunity."

Paul DiMarco, Chief Financial Officer, added, "Our strong balance sheet and well-structured debt profile provide us significant financial flexibility to pursue a disciplined, returns-focused capital allocation strategy to enhance shareholder value."

The company's non-pipeline business revenue increased 26%, primarily driven by the Power Delivery segment. The Communications segment also saw strong growth, with revenue increasing by 41.6%. The Clean Energy and Infrastructure segment reported a 20.1% revenue increase, while the Pipeline Infrastructure segment saw a 5.7% decrease.

MasTec will host a webcast of its quarterly earnings call on Friday, August 1, 2025, at 9:00 a.m. ET, to discuss these results. The dial-in number for the conference call is (888) 204-4368 toll-free within the U.S. or +1 (856) 344-9221. The conference ID is 2129810. The slide presentation that accompanies the conference call will also be posted on the MasTec Investors page.

References:
[1] https://www.businesswire.com/news/home/20250731668139/en/MasTec-Reports-Second-Quarter-2025-Results-and-Updates-2025-Financial-Guidance