Company: MTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000015615-25-000079
Chunk: 452

Company: MASTEC INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 13
Chunk 452
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Net income attributable to non-controlling interests.  Net income attributable to non-controlling interests was $4 million for the three months ended June 30, 2025, as compared with $10 million for the same period in 2024.  The decrease was primarily attributable to the decrease in activity of certain entities within the Pipeline Infrastructure segment with minority interest holders.

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

Six Months Ended June 30, Change20252024$%Revenue$6,392.4 100.0 %$5,647.9 100.0 %$744.5 13.2 %Costs of revenue, excluding depreciation and amortization5,645.8 88.3 %4,920.1 87.1 %725.7 14.7 %Depreciation146.2 2.3 %209.6 3.7 %(63.4)(30.3)%Amortization of intangible assets65.3 1.0 %67.3 1.2 %(2.0)(2.9)%General and administrative expenses342.8 5.4 %332.6 5.9 %10.2 3.1 %Interest expense, net82.9 1.3 %102.6 1.8 %(19.7)(19.2)%Equity in earnings of unconsolidated affiliates, net(17.4)(0.3)%(15.1)(0.3)%(2.2)14.9 %Loss on extinguishment of debt— — %11.3 0.2 %(11.3)(100.0)%Other (income) expense, net(2.9)(0.0)%1.9 0.0 %(4.8)NMIncome before income taxes$129.7 2.0 %$17.6 0.3 %$112.2 NMProvision for income taxes(27.3)(0.4)%(8.3)(0.1)%(19.0)230.0 %Net income$102.5 1.6 %$9.3 0.2 %$93.2 NMNet income attributable to non-controlling interests6.8 0.