Company: MTZ
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000015615-25-000128
Chunk: 419

Company: MASTEC INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 7
Chunk 419
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 loans thereunder are not subject to amortization.  In the second quarter of 2025, we used the proceeds from the 2025 Term Loan Facility, together with available cash, to repay the $328.1 million term loan under our Existing Credit Agreement and the remaining $277.5 million of our Five-Year Term Loan that would otherwise have matured on October 7, 2027.  The 2025 Term Loan Facility is subject to certain provisions and covenants, as more fully described in Note 6 – Debt in the notes to the consolidated financial statements, which is incorporated by reference. 

Debt Covenants

We were in compliance with the provisions and covenants contained in our outstanding debt instruments as of September 30, 2025, and we expect to be in compliance with these provisions and covenants for the next twelve months.

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Additional Information

For detailed discussion and additional information pertaining to our debt instruments, see Note 7 – Debt in the notes to the audited consolidated financial statements included in our 2024 Form 10-K.  Also, see Note 6 – Debt in the notes to the consolidated financial statements in this Form 10-Q, which is incorporated by reference, for current period balances, rates of interest and related discussion.

Off-Balance Sheet Arrangements

As is common in our industry, we have entered into certain off-balance sheet arrangements in the ordinary course of business.  These off-balance sheet arrangements have not had, and are not reasonably likely to have, a material impact on our financial condition, revenue or expenses, results of operations, liquidity, cash requirements or capital resources in the next twelve months or in the foreseeable future.  Refer to Note 4 – Fair Value of Financial Instruments, Note 11 – Commitments and Contingencies and Note 12 – Related Party Transactions in the notes to the consolidated financial statements in this Form 10-Q, which are incorporated by reference, and see Management’s Discussion and Analysis of Financial Condition and Results of Operations contained in our 2024 Form 10-K for additional information related to our off-balance sheet arrangements.

Impact of Inflation

The primary inflationary factors affecting our operations are labor, fuel and material costs.  In times of low unemployment, our labor costs may increase due to shortages in the supply of skilled labor and increases in compensation rates generally.  Immigration actions may also affect the availability of labor.  Although most project materials are provided by our customers, increases in the