Exceeded Revenue and EPS Guidance
MasTec exceeded guidance in revenue and EPS for the second quarter of 2025, with significant year-over-year growth despite difficult comparisons from the Mountain Valley pipeline completion in the first half of last year.
Strong Non-Pipeline Business Performance
The non-pipeline business improved EBITDA by 42% year-over-year, and revenue was up 26% with Power Delivery and Clean Energy and Infrastructure both up 20%, and Communications up 40% year-over-year.
Record Backlog and Strong Demand
Company backlog posted a 23% year-over-year growth, with expectations for further growth in the second half of the year. The total company backlog is expected to end 2025 at record levels.
Increased Workforce
MasTec added nearly 4,000 new team members in the second quarter, over a 10% increase in workforce, in response to strong demand and in preparation for expected growth in 2026 and beyond.
Positive Communications Segment Growth
Revenue in the Communications segment was up 42% year-over-year, with adjusted EBITDA growing 55% and a backlog increase to a record $5 billion, up 13% from the prior year.
Clean Energy and Infrastructure Growth
Second quarter revenue for Clean Energy and Infrastructure grew 20% year-over-year, with adjusted EBITDA nearly doubling. The backlog was up 11% to a new record level of $4.9 billion.
Increased 2025 Financial Guidance
Revenue guidance for full-year 2025 was increased to $13.9 billion to $14 billion. EBITDA guidance was increased to $1.130 billion to $1.160 billion, and EPS guidance was increased with a midpoint of $6.34 per share, implying a 60% increase year-over-year.