Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 540

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 540
---
 are not necessarily comparable from period to period due to the effect of recent acquisitions and certain other items, which are described in the comparison of results section below.  In this discussion, “acquisition” results are defined as results from acquired businesses for the first twelve months following the dates of the respective acquisitions, with the balance of results for a particular item attributed to “organic” activity.  Unless otherwise stated, comparisons are for the years ended December 31, 2024 and 2023. 

For the Years Ended December 31,Change20242023$%Revenue$12,303.5 100.0 %$11,995.9 100.0 %$307.5 2.6 %Costs of revenue, excluding depreciation and amortization10,676.0 86.8 %10,613.8 88.5 %62.2 0.6 %Depreciation 366.8 3.0 %433.9 3.6 %(67.2)(15.5)%Amortization of intangible assets139.9 1.1 %169.2 1.4 %(29.4)(17.4)%General and administrative expenses684.5 5.6 %698.9 5.8 %(14.4)(2.1)%Interest expense, net193.3 1.6 %234.4 2.0 %(41.1)(17.6)%Equity in earnings of unconsolidated affiliates, net(30.2)(0.2)%(30.7)(0.3)%0.5 (1.5)%Loss on extinguishment of debt11.3 0.1 %— — %11.3 100.0 %Other expense (income), net11.0 0.1 %(40.9)(0.3)%51.9 (126.9)%Income (loss) before income taxes$251.0 2.0 %$(82.7)(0.7)%$333.7 (403.4)%(Provision for) benefit from income taxes(51.5)(0.4)%35.4 0.3 %(87.0)(245.6)%Net income (loss)$199.4 1.6 %$(47.3)(0.4)%$246.7