Company: MTZ
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000015615-25-000128
Chunk: 0

Company: MASTEC INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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ITEM 1.     FINANCIAL STATEMENTS

MASTEC, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited - in thousands, except per share amounts)

Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2025202420252024Revenue$3,966,948 $3,252,427 $10,359,371 $8,900,362 Costs of revenue, excluding depreciation and amortization3,429,199 2,789,274 9,074,981 7,709,393 Depreciation71,837 80,193 217,996 289,769 Amortization of intangible assets32,719 34,368 98,042 101,669 General and administrative expenses181,049 168,874 523,873 501,491 Interest expense, net45,444 47,048 128,337 149,678 Equity in earnings of unconsolidated affiliates, net(6,555)(7,042)(23,911)(22,153)Loss on extinguishment of debt— — — 11,344 Other expense (income), net1,633 2,754 (1,306)4,639 Income before income taxes$211,622 $136,958 $341,359 $154,532 Provision for income taxes(45,125)(31,548)(72,401)(39,813)Net income$166,497 $105,410 $268,958 $114,719 Net income attributable to non-controlling interests5,837 10,170 12,629 26,671 Net income attributable to MasTec, Inc.$160,660 $95,240 $256,329 $88,048 Earnings per share (Note 2):Basic earnings per share$2.07 $1.22 $3.29 $1.13 Basic weighted average common shares outstanding77,702 78,044 77,857 78,004 Diluted earnings per share$2.04 $1.21 $3.26 $1.12 Diluted weighted average common shares outstanding78,648 78,913 78,672 78,801 

The accompanying notes are an integral part of these consolidated financial