Company: MTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000015615-25-000079
Chunk: 34

Company: MASTEC INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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 effect of significant discrete items is separately recognized in the quarter(s) in which they occur.  For the three months ended June 30, 2025 and 2024, the Company’s consolidated effective tax rates were 25.4% and 30.7%, respectively, and for the six months ended June 30, 2025 and 2024 were 21.0% and 47.0%, respectively.  The Company’s effective tax rate for the six months ended June 30, 2025 included an income tax benefit primarily due to the reversal of uncertain tax position liabilities related to a state audit, offset, in part, by an increase in income tax expense due to higher pre-tax income.  For the six months ended June 30, 2024, the Company’s effective tax rate included the effect of a higher percentage of non-deductible expenses relative to pre-tax income.On July 4, 2025, the One Big Beautiful Bill Act (the “OBBBA”) was signed into law, which includes significant changes to federal tax law and other regulatory provisions that may impact the Company.  The Company is currently evaluating the provisions of the new law and the potential effects on our financial position, results of operations, and cash flows.

Note 11 – Segments and Related Information

Segment DiscussionThe Company manages its operations under five operating segments, which represent its five reportable segments: (1) Communications; (2) Clean Energy and Infrastructure; (3) Power Delivery; (4) Pipeline Infrastructure and (5) Other.  The reportable segments comprise the structure used by the Company’s Chief Executive Officer who is determined to be the Chief Operating Decision Maker (“CODM”) to make key operating decisions and assess performance.  This structure is generally focused on broad end-user markets for the Company’s labor-based construction services.  All five reportable segments derive their revenue primarily from the engineering, installation and maintenance of infrastructure, primarily in North America.The Communications segment performs engineering, construction, maintenance and customer fulfillment activities related to communications infrastructure, primarily for wireless and wireline/fiber communications, wireless integration and optimization and install-to-the-home services, as well as infrastructure for utilities, among others.  The Clean Energy and Infrastructure segment primarily serves energy, utility, government and other end-markets through the installation and construction of power generation facilities, primarily from clean energy and 

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renewable sources, such as wind, solar, biomass, natural gas and hydrogen, as well as battery storage systems