MasTec (MTZ) Q3 2025 Earnings
How Did MTZ Stock React to Q3 2025 Earnings?
S&P 500 over the same 30 days: +0.27%.
Did MTZ Beat Earnings? Q3 2025 Results
Yes. MasTec reported Q3 2025 earnings of $2.48 a share on Oct 30, 2025, beating the $2.30 consensus estimate by 7.7%. Revenue was $4.0B against a $3.9B estimate.
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 <a href="https://247wallst.com/investing/2025/10/30/monolithic-power-systems-mpwr-dips-3-after-earnings-after-massive-run/">other infrastructure-adjacent names struggled</a> 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.
- 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
“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.”
MasTec CEO, on the earnings call
What Was MasTec's Outlook in Q3 2025?
MasTec updated full-year 2025 guidance to revenue of $14.075 billion (14% YoY growth), Adjusted EBITDA of $1.135 billion (13% YoY growth) with 8.1% margin, GAAP diluted EPS of $4.80 (133% YoY increase), and Adjusted diluted EPS of $6.40 (62% YoY increase). The guidance implies approximately 9% revenue growth and nearly 20% Adjusted EBITDA growth for Q4. This guidance incorporates anticipated permit-driven impacts on the Greenlink project within Power Delivery. Management targets continued double-digit growth in both revenue and Adjusted EBITDA for the full year, citing strong operating execution and broad-based market opportunities.
MTZ YoY Financials
| Metric | Q3 2025 | Q3 2024 | Year over year |
|---|---|---|---|
| Revenue | $4.0B | $3.3B | +22.0% |
| Net Income | $166.5M | $95.2M | +74.8% |
| Operating Income | $251.1M | $179.7M | +39.7% |
MTZ Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.