Company: MTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000015615-25-000079
Chunk: 1

Company: MASTEC INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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ITEM 1.     FINANCIAL STATEMENTS

MASTEC, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited - in thousands, except per share amounts)

Three Months EndedJune 30, Six Months EndedJune 30, 2025202420252024Revenue$3,544,705 $2,961,086 $6,392,423 $5,647,935 Costs of revenue, excluding depreciation and amortization3,109,163 2,540,447 5,645,782 4,920,119 Depreciation69,934 102,141 146,159 209,576 Amortization of intangible assets32,687 33,611 65,323 67,301 General and administrative expenses176,653 167,081 342,824 332,618 Interest expense, net43,852 50,571 82,893 102,630 Equity in earnings of unconsolidated affiliates, net(7,043)(5,892)(17,356)(15,111)Loss on extinguishment of debt— 11,344 — 11,344 Other (income) expense, net(1,334)(1,329)(2,939)1,884 Income before income taxes$120,793 $63,112 $129,737 $17,574 Provision for income taxes(30,660)(19,344)(27,276)(8,265)Net income$90,133 $43,768 $102,461 $9,309 Net income attributable to non-controlling interests4,367 9,780 6,792 16,501 Net income (loss) attributable to MasTec, Inc.$85,766 $33,988 $95,669 $(7,192)Earnings (loss) per share (Note 2):Basic earnings (loss) per share$1.10 $0.44 $1.23 $(0.09)Basic weighted average common shares outstanding77,684 78,038 77,937 77,984 Diluted earnings (loss) per share$1.09 $0.43 $1.21 $(0.09)Diluted weighted average common shares outstanding78,521 78,860 78,750 77