Q3 25 EPS
$2.48
BEAT +7.74%
Est. $2.30
Q3 25 Revenue
$3.97B
BEAT +1.46%
Est. $3.91B
vs S&P Since Q3 25
+94.0%
BEATING MARKET
MTZ +99.6% vs S&P +5.7%
Market Reaction
Did MTZ Beat Earnings? Q3 2025 Results
MasTec posted a record-breaking third quarter, delivering adjusted diluted EPS of $2.48 against a consensus estimate of $2.30, a 7.74% beat, while revenue climbed 22.0% year-over-year to $3.97 billion, edging past the $3.91 billion estimate. The stan… Read more MasTec posted a record-breaking third quarter, delivering adjusted diluted EPS of $2.48 against a consensus estimate of $2.30, a 7.74% beat, while revenue climbed 22.0% year-over-year to $3.97 billion, edging past the $3.91 billion estimate. The standout performance was powered by broad-based momentum across all four operating segments, with Communications leading the charge at 32.9% revenue growth and Clean Energy and Infrastructure close behind at 19.8%, both posting meaningful margin improvements. Adjusted EBITDA reached a quarterly record of $373.50 million, up 20% year-over-year, and the company's 18-month backlog swelled to a record $16.78 billion, a 21% year-over-year increase that underscores sustained demand across energy and infrastructure end-markets. In a quarter where other infrastructure-adjacent names struggled to sustain post-rally momentum, MasTec raised its full-year 2025 guidance to $14.08 billion in revenue and adjusted diluted EPS of $6.40, representing 62% year-over-year growth, signaling continued confidence in execution through year-end.
Key Takeaways
- • Double-digit revenue growth across all four operating segments
- • Higher wireless and wireline project volumes in Communications
- • Increased renewable project activity and favorable project mix in Clean Energy and Infrastructure
- • Higher levels of project activity in Power Delivery
- • Higher midstream pipeline project activity in Pipeline Infrastructure
- • Improved efficiencies in Communications and Clean Energy and Infrastructure segments
- • Lower depreciation expense, interest expense, and tax rate versus prior year
- • Record 18-month backlog of $16.8 billion, up 21% year-over-year
MTZ YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
MTZ Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are pleased that third quarter financial performance posted strong double-digit year-over-year growth across both revenue and profit metrics while also exceeding guidance in all respects as MasTec continues to execute on notably strong customer demand across all end-markets we serve.”
— Jose Mas, Q3 2025 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% |