Company: MTZ
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000015615-25-000128
Chunk: 70

Company: MASTEC INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 70
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.3 NM17.2 NMSegment Total$421.8 10.6 %$356.6 11.0 %$956.1 9.2 %$871.4 9.8 %Corporate(48.4)— (46.1)— (144.2)— (136.8)— Adjusted EBITDA$373.5 9.4 %$310.5 9.5 %$811.9 7.8 %$734.7 8.3 %

NM - Percentage is not meaningful

(a)    Recast to reflect first quarter of 2025 segment changes.  See Note 10 – Segments and Related Information in the notes to the consolidated financial statements, which is incorporated by reference, for additional information.

(b)    Non-cash stock-based compensation expense, loss on extinguishment of debt and changes in fair value of acquisition-related contingent items are included within Corporate EBITDA.

34

The tables below (dollar amounts in millions, except per share amounts), which may contain slight summation differences due to rounding, reconcile reported net income and reported diluted earnings per share, the most directly comparable U.S. GAAP financial measures, to Adjusted Net Income, Adjusted Net Income Attributable to MasTec, Inc. and Adjusted Diluted Earnings Per Share.

Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2025202420252024Net income$166.5 $105.4 $269.0 $114.7 Adjustments:Non-cash stock-based compensation expense9.3 7.3 25.6 24.0 Amortization of intangible assets32.7 34.4 98.0 101.7 Loss on extinguishment of debt— — — 11.3 Changes in fair value of acquisition-related contingent items2.5 4.6 0.6 3.6 Total adjustments, pre-tax$44.6 $46.3 $124.2 $140.7 Income tax effect of adjustments (a)(10.2)(9.1)(28.4)(31.1)Adjusted net income$200.9 $142.7 $364.8 $224.3 Net income attributable to non-controlling interests5.8 10.2