Company: MTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000015615-25-000079
Chunk: 158

Company: MASTEC INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 2
Chunk 158
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 months ended June 30, 2025.

Results of Operations

Comparison of Consolidated Results

The following tables, which may contain slight summation differences due to rounding, reflect our consolidated results of operations in dollar and percentage of revenue terms for the periods indicated (dollar amounts in millions).  Our consolidated results of operations are not necessarily comparable from period to period due to the effect of recent acquisitions and certain other items, as appropriate, which are described in the comparison of results section below.  Unless otherwise stated, comparisons are for the periods ended June 30, 2025 and 2024.  Historical financial information for our reportable segments has been recast to conform with the changes described in Note 11 – Segments and Related Information in the notes to the consolidated financial statements, which is incorporated by reference.

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Three Months Ended June 30, 2025 Compared to Three Months Ended June 30, 2024

Three Months Ended June 30, Change20252024$%Revenue$3,544.7 100.0 %$2,961.1 100.0 %$583.6 19.7 %Costs of revenue, excluding depreciation and amortization3,109.2 87.7 %2,540.4 85.8 %568.7 22.4 %Depreciation69.9 2.0 %102.1 3.4 %(32.2)(31.5)%Amortization of intangible assets32.7 0.9 %33.6 1.1 %(0.9)(2.7)%General and administrative expenses176.7 5.0 %167.1 5.6 %9.6 5.7 %Interest expense, net43.9 1.2 %50.6 1.7 %(6.7)(13.3)%Equity in earnings of unconsolidated affiliates, net(7.0)(0.2)%(5.9)(0.2)%(1.2)19.5 %Loss on extinguishment of debt— — %11.3 0.4 %(11.3)(100.0)%Other income, net(1.3)(0.0)%(1.3)(0.0)%(0.0)0.4 %Income before income taxes$120.8