Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 698

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 698
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 transportation infrastructure.  We also provide certain other services.  The services we provide to our customers primarily encompass the following:

Build.  We build infrastructure for customers across a range of industries.  We specialize in building infrastructure for wireless and wireline/fiber communications; clean energy infrastructure, including for renewable energy power generation; pipeline infrastructure, including for natural gas, water, carbon capture sequestration and other product transport; power delivery services, including electrical and gas transmission and distribution systems; industrial and heavy civil infrastructure, including roads, bridges and rail; and water infrastructure.

Install.  We install electrical and gas distribution and transmission systems, power generation, civil and industrial facilities, pipelines, fiber optic and other cables, and provide various install-to-the-home services in a variety of environments for our customers.

Maintain, Upgrade and Other Services.  We offer 24 hour/365 days-a-year maintenance and upgrade support to our customers.  Our comprehensive service offerings include the regular maintenance of our customers’ distribution facilities, networks and infrastructure, including communications, power generation, pipeline, electrical distribution and transmission and civil and industrial infrastructure.  We also provide emergency services for service restoration following natural disasters and accidents, and we perform environmental planning, compliance and remediation.  Our upgrade work ranges from routine replacements and upgrades to major overhauls.

Customers 

We have longstanding relationships with many customers, and often provide services under master service and other service agreements, which are generally multi-year agreements.  Our master service agreements are typically exclusive up to a specified dollar amount per work order for each defined geographic area, but do not obligate our customers to undertake any infrastructure projects or other work with us.  Work performed under master service and other service agreements is usually generated through work orders, each of which is performed for a fixed fee.  Services provided under these agreements range from construction, installation, maintenance and upgrade services to project management and engineering services.  Master service and other service agreements are frequently awarded on a competitive bidding basis, although customers are sometimes willing to negotiate contract extensions beyond their original terms without re-bidding.  Our master service and other service agreements have various terms, depending upon the nature of the services provided, and typically provide for termination on short or no advance notice.  For the years ended December 31, 2024, 2023 and 2022, revenue derived from projects performed under master service and other service agreements totaled 41%, 40% and 51%, respectively, of consolidated revenue.

The remainder of our work is generated pursuant