Company: MTZ
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000015615-25-000128
Chunk: 68

Company: MASTEC INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 68
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 be viewed in conjunction with the most comparable U.S. GAAP financial measures and the provided reconciliations thereto.  We believe these non-U.S. GAAP financial measures, when viewed together with our U.S. GAAP results and related reconciliations, provide a more complete understanding of our business.  We strongly encourage investors to review our consolidated financial statements and publicly filed reports in their entirety and not rely on any single financial measure.

The following table presents a reconciliation of net income to EBITDA and Adjusted EBITDA in dollar and percentage of revenue terms for the periods indicated.  The tables below (dollar amounts in millions) may contain slight summation differences due to rounding.

Three Months Ended September 30, Nine Months Ended September 30, EBITDA Reconciliation:2025202420252024Net income$166.5 4.2 %$105.4 3.2 %$269.0 2.6 %$114.7 1.3 %Interest expense, net45.4 1.1 %47.0 1.4 %128.3 1.2 %149.7 1.7 %Provision for income taxes45.1 1.1 %31.5 1.0 %72.4 0.7 %39.8 0.4 %Depreciation71.8 1.8 %80.2 2.5 %218.0 2.1 %289.8 3.3 %Amortization of intangible assets32.7 0.8 %34.4 1.1 %98.0 0.9 %101.7 1.1 %EBITDA $361.6 9.1 %$298.6 9.2 %$785.7 7.6 %$695.6 7.8 %Non-cash stock-based compensation expense9.3 0.2 %7.3 0.2 %25.6 0.2 %24.0 0.3 %Loss on extinguishment of debt— — %— — %— — %11.3 0.1 %Changes in fair value of acquisition-related contingent items2.5 0.1 %4.6 0