MasTec Q2 revenue up 20% YoY to $3.5bln, 18-month backlog rises 23% YoY to $16.5bln.

• Mastec reports Q2 2025 revenue of $3.5 billion, a 20% YoY increase. • Non-pipeline segments contribute 25% combined growth. • Pipeline Infrastructure declines by 6% due to contract close-out. • 18-month backlog reaches $16.5 billion, a 23% YoY increase. • Diluted EPS at $1.09, a 153% YoY increase. • Adjusted diluted EPS at $1.49, a 49% YoY increase.

Title: MasTec's Q2 2025 Revenue Surges, Backlog Grows to $16.5 Billion

July 02, 2025 - MasTec Inc. (NYSE: MTZ) reported its second-quarter 2025 financial results, showcasing a significant 20% year-over-year (YoY) revenue increase to $3.5 billion. The company attributed this growth to strong demand and effective execution across its market segments. Non-pipeline segments contributed 25% to the combined growth, while the Pipeline Infrastructure segment experienced a 6% decline due to the completion of the Mountain Valley Pipeline in the prior year.

The company's 18-month backlog reached $16.5 billion, representing a 23% YoY increase, driven by new awards in Clean Energy and Infrastructure. MasTec's diluted earnings per share (EPS) rose to $1.09, a 153% YoY increase, while the adjusted diluted EPS reached $1.49, a 49% YoY increase. These results exceeded analyst expectations and prompted the company to raise its full-year 2025 revenue guidance to $13.9 billion to $14.0 billion.

The second-quarter performance was bolstered by a 25% growth contribution from non-pipeline segments, including Communications and Clean Energy and Infrastructure. The Communications segment saw a 41.6% revenue increase, primarily driven by higher levels of wireless and wireline project activity. The Clean Energy and Infrastructure segment experienced a 20.1% revenue increase, with higher project activity in renewable and heavy civil projects. Conversely, the Pipeline Infrastructure segment declined by 5.7%, primarily due to the completion of the Mountain Valley Pipeline in the prior year.

MasTec's Chief Executive Officer, Jose Mas, commented on the strong performance, stating, "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."

The company's Chief Financial Officer, Paul DiMarco, 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."

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 further. The webcast can be accessed through the Investors section of the company's website at www.mastec.com.

References:
[1] https://www.tradingview.com/news/reuters.com,2025:newsml_PLXAEA08C:0-infrastructure-firm-mastec-q2-revenue-beats-estimates-raises-fy-guidance/
[2] https://www.morningstar.com/news/business-wire/20250731668139/mastec-reports-second-quarter-2025-results-and-updates-2025-financial-guidance