Company: MTZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000015615-25-000052
Chunk: 239

Company: MASTEC INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 5
Chunk 239
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 or $12 million, due to improved efficiencies, including from our wireless and wireline businesses.  Higher levels of revenue resulted in an increase in EBITDA of approximately $9 million.

Clean Energy and Infrastructure Segment Results

Revenue.  The increase in revenue was due primarily to higher levels of project activity and mix, primarily in our renewable, heavy civil and other infrastructure projects.

EBITDA.  As a percentage of revenue, EBITDA increased by approximately 350 basis points, or $32 million, due to a combination of project mix, improved productivity and efficiencies, primarily from certain renewable and infrastructure project work.  Higher levels of revenue resulted in an increase in EBITDA of approximately $4 million.

Power Delivery Segment Results

Revenue.  The increase in revenue was due primarily to higher levels of project activity, including timing-related increases in transmission and distribution-related project work and, to a lesser extent, an increase in substation-related project work.

EBITDA.  As a percentage of revenue, EBITDA decreased by approximately 60 basis points, or $6 million, primarily due to reduced efficiencies at certain of our project sites, whereas higher levels of revenue resulted in an increase in EBITDA of approximately $6 million.

Pipeline Infrastructure Segment Results

Revenue.  The decrease in revenue was due primarily to expected lower levels of project activity, including from large-diameter and midstream project activity, offset, in part, by an increase in other infrastructure-related work. 

EBITDA.  As a percentage of revenue, EBITDA decreased by approximately 210 basis points, or $8 million, due primarily to reduced efficiencies, including from a reduction in revenue on large-diameter pipeline projects, as well as the effects of project mix.  Lower levels of revenue contributed a decrease in EBITDA of approximately $41 million.

Other Segment Results

EBITDA.  EBITDA from Other businesses relates primarily to equity in earnings from our investments in the Waha JVs.

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Corporate Results

EBITDA.  For the three month period ended March 31, 2025, Corporate EBITDA included approximately $1 million of expense, net, from changes to estimated Earn-out accruals and approximately $1 million of income, net, from the changes in the fair value of additional contingent payments to former owners of an acquired business.  For the three month period ended March 31, 2024, Corporate EBITDA included approximately $6 million of income, net, from changes to