Company: MTZ
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000015615-25-000128
Chunk: 99

Company: MASTEC INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 99
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 potential effect of dilutive common stock equivalents, such as issued but unvested restricted shares.

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The following table provides details underlying the Company’s earnings per share calculations for the periods indicated (in thousands):Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2025202420252024Net income attributable to MasTec:Net income - basic and diluted$160,660 $95,240 $256,329 $88,048 Weighted average shares outstanding:Weighted average shares outstanding - basic77,702 78,044 77,857 78,004 Dilutive common stock equivalents (a)946 869 815 797 Weighted average shares outstanding - diluted78,648 78,913 78,672 78,801 (a)    For the three months ended September 30, 2025 and 2024, anti-dilutive common stock equivalents totaled approximately 1,000 and 3,000, respectively, and for the nine months ended September 30, 2025 and 2024, such shares totaled approximately 12,000 and 171,000, respectively.Share Repurchases.  For the nine months ended September 30, 2025, the Company repurchased 702,533 shares of its common stock, the effect of which on the Company’s weighted average shares outstanding for the period was a reduction of approximately 483,000 shares.  See Note 8 – Stockholders' Equity for details of the Company’s share repurchase transactions.

Note 3 – Acquisitions, Goodwill and Other Intangible Assets, Net

The following table provides a reconciliation of changes in goodwill by reportable segment for the period indicated (in millions):CommunicationsClean Energy and InfrastructurePower DeliveryPipeline InfrastructureTotal GoodwillGoodwill, gross, as of December 31, 2024 (a)$546.5 $742.3 $395.4 $629.2 $2,313.4 Accumulated impairment loss (b)— — — (110.3)(110.3)Goodwill, net, as of December 31, 2024 (a)$546.5 $742.3 $395.4 $518.9 $2,203.1 Additions from new business combinations0.5 — — 1.4 1.9 Measurement period adjustments (c)— 3.4