Q2 25 EPS
$1.49
BEAT +6.41%
Est. $1.40
Q2 25 Revenue
$3.54B
BEAT +4.18%
Est. $3.40B
vs S&P Since Q2 25
+88.5%
BEATING MARKET
MTZ +108.6% vs S&P +20.1%
Market Reaction
Did MTZ Beat Earnings? Q2 2025 Results
MasTec posted a record-breaking second quarter, with revenue of $3.54 billion climbing 19.7% year-over-year and adjusted diluted EPS of $1.49 beating the $1.40 consensus estimate by 6.41%, as broad-based infrastructure demand drove the company well a… Read more MasTec posted a record-breaking second quarter, with revenue of $3.54 billion climbing 19.7% year-over-year and adjusted diluted EPS of $1.49 beating the $1.40 consensus estimate by 6.41%, as broad-based infrastructure demand drove the company well ahead of expectations. The headline result was powered most visibly by the Communications segment, which surged 41.6% to $836.90 million on accelerating wireless and wireline project activity, while Clean Energy and Infrastructure and Power Delivery each grew more than 20%. The 18-month backlog reached a record $16.45 billion, up 23% year-over-year, underscoring the durability of that demand. Management responded by raising full-year 2025 guidance, now targeting revenue of $13.90 to $14.00 billion and adjusted diluted EPS of $6.23 to $6.44, with Q3 revenue guided to $3.90 billion and adjusted EPS of $2.28. Pipeline Infrastructure was the one soft spot, declining 5.7% to $539.70 million with margins compressing sharply, but the company's diversified platform and record backlog leave MasTec well-positioned heading into the second half.
Key Takeaways
- • 20% year-over-year revenue growth driven by strong 25% combined contribution from non-pipeline segments
- • Communications segment surged 41.6% on higher wireless and wireline project activity
- • Clean Energy and Infrastructure EBITDA margin expanded 230 basis points from renewable project close-outs and improved productivity
- • Record 18-month backlog of $16.5 billion, up 23% year-over-year
- • Lower depreciation expense, lower interest expense, and lower tax rate boosted GAAP earnings
- • Pipeline Infrastructure revenue declined 5.7% due to Mountain Valley Pipeline close-out in prior year
MTZ YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
MTZ Revenue by Segment
With YoY comparisons, source: SEC Filings
“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.”
— Jose Mas, Q2 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 BEAT | $0.99 | $1.39 | +40.59% | $3.83B | +10.21% |
| Q4 25 BEAT FY | $1.95 | $2.07 | +6.42% | $3.94B | +6.06% |
| 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% |