Company: MTZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000015615-25-000052
Chunk: 350

Company: MASTEC INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 11
Chunk 350
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 to the Power Delivery segment.  These changes did not impact the Company’s consolidated financial statements, but did impact its reportable segments, including historical financial information.  The segment data presented below have been recast for the historical periods to reflect these segment changes.  Earnings before interest, taxes, depreciation and amortization (“EBITDA”) is the measure of profitability used by the Company’s CODM to manage its segments and for segment reporting purposes.  As appropriate, the Company supplements the reporting of its consolidated financial information determined in accordance with U.S. GAAP with certain non-U.S. GAAP financial measures, including EBITDA.  The Company believes these non-U.S. GAAP measures provide meaningful information and help investors understand the Company’s financial results and assess its prospects for future performance.  The Company uses EBITDA to evaluate its performance, both internally and as compared with its peers, because it excludes certain items that may not be indicative of the Company’s core operating results for its reportable segments, as well as items that can vary widely across different industries or among companies within the same industry.  Segment EBITDA is used to allocate resources, such as employees, financial and capital resources, for each segment and management monitors segment results compared to prior period, forecasted results and the annual plan.  Segment EBITDA is calculated in a manner consistent with consolidated EBITDA.

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Summarized financial information for MasTec’s reportable segments is presented and reconciled to consolidated financial information for total MasTec in the following tables, including a reconciliation of consolidated income before income taxes to EBITDA, all of which are presented in millions.  The tables below, which may contain slight summation differences due to rounding, reflect certain financial data for each reportable segment and have been recast as described above.Three Months Ended March 31, CommunicationsClean Energy and InfrastructurePower DeliveryPipeline InfrastructureOtherEliminationsTotal Reportable Segments2025:Revenue (a)$680.9 $915.8 $899.7 $356.5 $— $(5.2)$2,847.7 Costs of revenue, excluding depreciation and amortization615.9 807.5 817.5 300.3 — (5.2)2,536.0 Other segment items (b)18.2 51.2 30.9 11.7 (8.0)— 104.0 EBITDA$