Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 2195

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 5
Chunk 2195
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%105.1 36.9 %Other— — — — %26.2 NM25.0 NM1.2 4.8 %Eliminations(64.3)(33.5)(31.0)92.8 %— — — — — — Segment Total$12,303.5 $11,995.9 $307.6 2.6 %$1,194.1 9.7 %$918.8 7.7 %$275.3 30.0 %Corporate— — — — (243.3)— (163.9)— (79.3)48.4 %Consolidated Total$12,303.5 $11,995.9 $307.5 2.6 %$950.8 7.7 %$754.9 6.3 %$196.0 26.0 %

NM - Percentage is not meaningful

(a)    For the year ended December 31, 2023, Communications, Clean Energy and Infrastructure and Power Delivery EBITDA included $22.5 million, $37.1 million and $8.5 million, respectively, of acquisition and integration costs related to our recent acquisitions, and Corporate EBITDA included $3.8 million of such costs.

Communications Segment Results

Revenue.  The increase in revenue was driven primarily by higher levels of wireless, wireline and utility project activity due, in part, to customer project timing in our wireless and wireline businesses.  These increases were offset, in part, by a decrease in our install-to-the-home project activity due, in part, to changes in consumer behavior resulting in lower demand.

EBITDA.  As a percentage of revenue, EBITDA increased by approximately 140 basis points, or $48 million, due to improved project efficiencies, including from our wireless and wireline businesses, and as a result of a reduction of approximately $23 million in certain acquisition and integration costs.  Higher levels of revenue resulted in an increase in EBITDA of approximately $17 million.

Clean Energy and Infrastructure Segment Results

Revenue.  The increase was primarily due to higher levels of heavy civil project activity, offset, in part, by lower levels of renewable and certain industrial and other infrastructure project work, due to various factors affecting timing of project work.