Company: MTZ
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000015615-25-000128
Chunk: 346

Company: MASTEC INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 6
Chunk 346
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 in income tax expense due to higher pre-tax income, whereas for the three months ended September 30, 2024, our effective tax rate included the effect of a lower state income tax rate partially offset by a higher percentage of non-deductible expenses relative to pre-tax income.

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Net income attributable to non-controlling interests.  Net income attributable to non-controlling interests was $6 million for the three months ended September 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 Communications segment with minority interest holders.

Nine Months Ended September 30, 2025 Compared to Nine Months Ended September 30, 2024

Nine Months Ended September 30, Change20252024$%Revenue$10,359.4 100.0 %$8,900.4 100.0 %$1,459.0 16.4 %Costs of revenue, excluding depreciation and amortization9,075.0 87.6 %7,709.4 86.6 %1,365.6 17.7 %Depreciation218.0 2.1 %289.8 3.3 %(71.8)(24.8)%Amortization of intangible assets98.0 0.9 %101.7 1.1 %(3.6)(3.6)%General and administrative expenses523.9 5.1 %501.5 5.6 %22.4 4.5 %Interest expense, net128.3 1.2 %149.7 1.7 %(21.3)(14.3)%Equity in earnings of unconsolidated affiliates, net(23.9)(0.2)%(22.2)(0.2)%(1.8)7.9 %Loss on extinguishment of debt— — %11.3 0.1 %(11.3)(100.0)%Other (income) expense, net(1.3)(0.0)%4.6 0.1 %(5.9)NMIncome before income taxes$341.4 3.3 %$154.5 1.7 %$186.8 120.9 %Provision for income taxes(72.4