Company: MTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000015615-25-000079
Chunk: 2

Company: MASTEC INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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,984 

The accompanying notes are an integral part of these consolidated financial statements.

3

MASTEC, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(unaudited - in thousands)

Three Months EndedJune 30, Six Months EndedJune 30, 2025202420252024Net income$90,133 $43,768 $102,461 $9,309 Other comprehensive income (loss), net of tax:Foreign currency translation gains (losses)4,483 (998)4,530 (1,379)Unrealized (losses) gains on investment activity(1,622)123 (4,725)2,847 Comprehensive income$92,994 $42,893 $102,266 $10,777 Net income attributable to non-controlling interests4,367 9,780 6,792 16,501 Foreign currency translation losses attributable to non-controlling interests(5,094)— (5,094)— Comprehensive (loss) income attributable to non-controlling interests$(727)$9,780 $1,698 $16,501 Comprehensive income (loss) attributable to MasTec, Inc.$93,721 $33,113 $100,568 $(5,724)

The accompanying notes are an integral part of these consolidated financial statements.

4

MASTEC, INC.

CONSOLIDATED BALANCE SHEETS

 (unaudited - in thousands, except share information)

June 30,2025December 31,2024AssetsCurrent assets:Cash and cash equivalents$191,052 $399,903 Accounts receivable, net of allowance1,424,928 1,381,462 Contract assets1,797,190 1,555,807 Inventories, net108,528 107,345 Prepaid expenses131,574 118,888 Other current assets93,727 89,125 Total current assets$3,746,999 $3,652,530 Property and equipment, net1,657,125 1,548,916 Operating lease right-of-use assets402,320 396,151 Goodwill, net2,212,792 2,203,077 Other intangible assets, net664,303 727,366 Other long-term assets448,617 447,235