Q4 25 EPS
$2.07
BEAT +6.15%
Est. $1.95
Q4 25 Revenue
$3.94B
BEAT +5.98%
Est. $3.72B
vs S&P Since Q4 25
+35.5%
BEATING MARKET
MTZ +40.5% vs S&P +5.1%
Full Year 2025 Results
FY 25 EPS
$6.55
BEAT +1.99%
Est. $6.42
FY 25 Revenue
$14.30B
BEAT +1.58%
Est. $14.08B
Market Reaction
Did MTZ Beat Earnings? Q4 2025 Results
MasTec capped a record-breaking year with a standout fourth quarter, posting adjusted EPS of $2.07 against a consensus estimate of $1.95, a 6.15% beat, while revenue of $3.94 billion topped the $3.72 billion estimate by 5.98% and climbed 15.8% year-o… Read more MasTec capped a record-breaking year with a standout fourth quarter, posting adjusted EPS of $2.07 against a consensus estimate of $1.95, a 6.15% beat, while revenue of $3.94 billion topped the $3.72 billion estimate by 5.98% and climbed 15.8% year-over-year. The results were broad-based, but Pipeline Infrastructure stole the show, surging 50% to $643.80 million with EBITDA margin expanding 490 basis points to 18.5%, driven by improved productivity and project mix. The momentum extended to the company's backlog, which hit a record $18.96 billion on an 18-month basis, up 33% year-over-year, with a Q4 book-to-bill ratio of 1.6x signaling sustained demand across energy, communications and infrastructure markets. The strong results rewarded investors watching for execution against a complex macro backdrop. Looking ahead, management issued 2026 guidance calling for revenue of $17.00 billion, representing 19% growth, and adjusted diluted EPS of $8.40, though tariff risks on steel, aluminum, and solar panels remain potential headwinds.
Key Takeaways
- • Double-digit revenue growth contribution from Pipeline Infrastructure, Communications, and Power Delivery segments
- • Improved productivity and favorable project mix in Pipeline Infrastructure driving 490 bps EBITDA margin expansion
- • Record 18-month backlog of $19.0 billion with 1.6x book-to-bill in Q4
- • Increased year-over-year project volumes driving GAAP net income and EPS improvement
- • Lower depreciation expense, lower interest expense and lower tax rate for full year results
- • Favorable project mix and improved efficiencies within Clean Energy and Infrastructure and Communications for full year
MTZ YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
MTZ Revenue by Segment
With YoY comparisons, source: SEC Filings
“Fourth quarter and full year 2025 financial performance exceeded guidance in virtually all respects, including mid-teens growth of revenue with contribution from all segments. We were very pleased with the execution by the MasTec team across our businesses, and proud that we continue to deliver value to our customers through this period of exceptional infrastructure demand.”
— Jose Mas, Q4 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% |