Company: MTZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000015615-25-000052
Chunk: 243

Company: MASTEC INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 5
Chunk 243
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.5 6.3 %Pipeline Infrastructure44.5 12.5 %92.8 14.6 %Other8.0 NM7.0 NMSegment Total$207.7 7.3 %$196.4 7.3 %Corporate(44.1)— (43.5)— Adjusted EBITDA$163.7 5.7 %$152.8 5.7 %

NM - Percentage is not meaningful

(a)    Recast to reflect segment changes.

(b)    Non-cash stock-based compensation expense and changes in fair value of acquisition-related contingent items are included within Corporate EBITDA.

30

The tables below, which may contain slight summation differences due to rounding, reconcile reported net income (loss) and reported diluted earnings (loss) per share, the most directly comparable U.S. GAAP financial measures, to Adjusted Net Income (Loss), Adjusted Net Income (Loss) Attributable to MasTec, Inc. and Adjusted Diluted Earnings (Loss) Per Share.

Three Months Ended March 31, 20252024Net income (loss)$12.3 $(34.5)Adjustments:Non-cash stock-based compensation expense6.9 9.7 Amortization of intangible assets32.6 33.7 Changes in fair value of acquisition-related contingent items(0.1)(4.6)Total adjustments, pre-tax$39.5 $38.8    Income tax effect of adjustments (a)(9.4)(11.1)Adjusted net income (loss)$42.4 $(6.7)Net income attributable to non-controlling interests2.4 6.7 Adjusted net income (loss) attributable to MasTec, Inc.$40.0 $(13.4)

Three Months Ended March 31, 20252024Diluted earnings (loss) per share$0.13 $(0.53)Adjustments:Non-cash stock-based compensation expense0.09 0.12 Amortization of intangible assets0.41 0.43 Changes in fair value of acquisition-related contingent items(0.00)(0.06)Total adjustments, pre-tax$0.50 $0.50    Income tax effect of adjustments (a)(0.12)(0.14)Adjusted diluted earnings (loss) per