Record Revenue Growth
Revenue for the quarter was just shy of $4 billion, marking a 22% year-over-year increase, with adjusted EBITDA growing 20% year-over-year to $374 million.
Strong Performance Across Segments
Communications segment grew revenue by 33% year-over-year, Clean Energy and Infrastructure segment saw revenue grow by 20%, and Power Delivery segment saw a 17% growth in revenue year-over-year.
Backlog Growth
Total backlog at quarter end was $16.8 billion, a $325 million sequential increase, with a 21% year-over-year increase in third quarter backlog, including a significant 8% increase from the Pipeline segment.
Impressive EPS Performance
Adjusted earnings per share was $2.48, ahead of consensus by nearly $0.20.
New Project Wins
Post quarter end, MasTec's Power Delivery segment was awarded its second-largest project ever, expected to start in mid-2026.