Q1 26 EPS
$1.39
Q1 26 Revenue
$3.83B
BEAT +10.21%
Est. $3.47B
vs S&P Since Q1 26
+7.6%
BEATING MARKET
MTZ +7.6% vs S&P +0.0%
Market Reaction
Did MTZ Beat Earnings? Q1 2026 Results
MasTec posted a blowout first quarter in 2026, with adjusted diluted EPS of $1.39 beating the $0.99 consensus estimate by 40.59%, marking the company's fourth consecutive quarter of exceeding Wall Street's earnings expectations. Revenue of $3.83 bill… Read more MasTec posted a blowout first quarter in 2026, with adjusted diluted EPS of $1.39 beating the $0.99 consensus estimate by 40.59%, marking the company's fourth consecutive quarter of exceeding Wall Street's earnings expectations. Revenue of $3.83 billion topped the $3.47 billion consensus by 10.21% and climbed 34.5% year-over-year, powered in large part by a 91% surge in Pipeline Infrastructure revenue to $682.50 million, where EBITDA margins expanded 870 basis points to 21.2% on sharply improved operational efficiencies. GAAP net income reached $69.70 million, compared to $12.30 million in the prior-year period, while adjusted EBITDA grew 73% to $283.60 million. The company's 18-month backlog hit a record $20.33 billion, up 28% year-over-year, underscoring the durability of demand across its infrastructure end-markets, even as some institutional investors trimmed their positions ahead of the print. On the strength of the quarter, MasTec raised its full-year 2026 outlook, now guiding for revenue of $17.50 billion and adjusted diluted EPS of $8.79, representing growth of 22% and 34%, respectively.
Key Takeaways
- • 34% year-over-year revenue growth with double-digit increases from all operating segments
- • Pipeline Infrastructure led revenue growth with 91% increase and 870 bps EBITDA margin expansion to 21.2%
- • Clean Energy and Infrastructure grew 45% with improved project mix and productivity
- • Power Delivery improved EBITDA margin 120 bps to 6.9% driven by improved efficiencies
- • Strong customer demand across all end-markets
- • Operational discipline enabling performance significantly above guidance
- • Record 18-month backlog of $20.3 billion, up 28% year-over-year
MTZ Forward Guidance & Outlook
MasTec raised its full-year 2026 guidance, now expecting revenue of $17.5 billion (22% year-over-year growth), Adjusted EBITDA of $1.5 billion (30% growth) at an 8.6% margin, GAAP diluted EPS of $6.77 (33% increase), and Adjusted diluted EPS of $8.79 (34% increase). For Q2 2026, guidance calls for revenue of $4.3 billion, GAAP net income of $150 million, Adjusted EBITDA of $380 million at 8.8% margin, GAAP diluted EPS of $1.72, and Adjusted diluted EPS of $2.20. Management cited strong customer demand across all end-markets and operational discipline as drivers of improved expectations.
MTZ YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
MTZ Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are pleased to report that first quarter financial performance posted strong double-digit year-over-year growth in both revenue and profitability, while also exceeding guidance in all respects as MasTec continues to execute on very strong customer demand across all of our end-markets.”
— Jose Mas, Q1 2026 Earnings Press Release
MTZ Earnings Trends
MTZ vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MTZ EPS Trend
Earnings per share: estimate vs actual
MTZ Revenue Trend
Quarterly revenue: estimate vs actual
MTZ Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $1.39 | — | $3.83B | +10.21% |
| Q4 25 BEAT FY | $1.95 | $2.07 | +6.15% | $3.94B | +5.98% |
| FY Full Year | $6.42 | $6.55 | +1.99% | $14.30B | +1.58% |
| Q3 25 BEAT | $2.30 | $2.48 | +7.74% | $3.97B | +1.46% |
| Q2 25 BEAT | $1.40 | $1.49 | +6.41% | $3.54B | +4.18% |
| Q1 25 BEAT | $0.34 | $0.51 | +51.20% | $2.85B | +4.99% |