Company: MTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000015615-25-000079
Chunk: 64

Company: MASTEC INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 64
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Pipeline Infrastructure896.2 1,206.2 (310.0)(25.7)%106.6 11.9 %227.8 18.9 %(121.2)(53.2)%Other— — — — 15.2 NM9.8 NM5.4 55.3 %Eliminations(14.1)(17.1)3.1 (18.1)%— — — — — — Segment Total$6,392.4 $5,647.9 $744.5 13.2 %$534.3 8.4 %$514.8 9.1 %$19.5 3.8 %Corporate— — — — (110.2)— (117.7)— 7.6 (6.4)%Consolidated Total$6,392.4 $5,647.9 $744.5 13.2 %$424.1 6.6 %$397.1 7.0 %$27.0 6.8 %

NM - Percentage is not meaningful

(a)    Recast to reflect first quarter of 2025 segment changes.  See Note 11 – Segments and Related Information in the notes to the consolidated financial statements, which is incorporated by reference, for additional information.

Communications Segment Results

Revenue.  The increase in revenue was driven primarily by higher levels of wireless and wireline project activity due, in part, to increased demand, offset, in part, by a decrease in our install-to-the-home project activity due, in part, to changes in consumer behavior resulting in lower demand.

EBITDA.  As a percentage of revenue, EBITDA increased by approximately 130 basis points, or $20 million, due to improved efficiencies, including from our wireless and wireline businesses.  Higher levels of revenue resulted in an increase in EBITDA of approximately $30 million.

Clean Energy and Infrastructure Segment Results

Revenue.  The increase in revenue was due primarily to higher levels of project activity and mix, primarily in our renewable and heavy civil projects.

32

EBITDA.  As a percentage of revenue, EBITDA increased by approximately 290 basis points, or $59 million, due to a combination of project mix, the positive effects of certain renewable project close-outs,