Company: MTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000015615-25-000079
Chunk: 63

Company: MASTEC INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 63
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1,210 basis points, or $65 million, due primarily to reduced efficiencies, including from a reduction in revenue on large-diameter pipeline projects, as well as the effects of project mix.  Lower levels of revenue contributed a decrease in EBITDA of approximately $8 million. 

Other Segment Results

EBITDA.  EBITDA from Other businesses relates primarily to equity in earnings from our investments in the Waha JVs.

Corporate Results

EBITDA.  For the three months ended June 30, 2025, Corporate EBITDA included approximately $5 million of income, net, from changes to estimated Earn-out accruals and approximately $3 million of expense, net, from the changes in the fair value of additional contingent payments to former owners of an acquired business.  For the three months ended June 30, 2024, Corporate EBITDA included approximately $11 million of a loss on extinguishment of debt and $4 million of expense, net, from changes to estimated Earn-out accruals.  Corporate expenses for the three months ended June 30, 2025 not related to the above-described items increased by approximately $7 million as compared with the same period in 2024, due primarily to increases in compensation and other administrative expenses, which were largely offset by a reduction in other miscellaneous income, net, and the effects of timing of ordinary course legal and other settlement matters.

Six Months Ended June 30, 2025 Compared to Six Months Ended June 30, 2024

RevenueEBITDA and EBITDA MarginSix Months EndedJune 30, ChangeSix Months EndedJune 30, ChangeSegment:20252024 (a)$%20252024 (a)$%Communications$1,517.8 $1,096.7 $421.0 38.4 %$129.4 8.5 %$78.8 7.2 %$50.6 64.2 %Clean Energy and Infrastructure2,047.2 1,695.8 351.4 20.7 %140.4 6.9 %67.8 4.0 %72.6 107.0 %Power Delivery1,945.3 1,666.3 279.0 16.7 %142.7 7.3 %130.6 7.8 %12.0 9.2 %