Company: MTZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000015615-25-000052
Chunk: 195

Company: MASTEC INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 4
Chunk 195
---
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 share$0.51 $(0.17)

(a)    Represents the tax effects of the adjusted items that are subject to tax, including the tax effects of non-cash stock-based compensation expense, including from share-based payment awards.  Tax effects are determined based on the tax treatment of the related item, the incremental statutory tax rate of the jurisdictions pertaining to the adjustment, and their effects on pre-tax income (loss).  For the three month periods ended March 31, 2025 and 2024, our consolidated tax amounts were benefits, with effective tax rates, as reported, of (37.8)% and 24.3%, respectively, and as adjusted, were an expense and a benefit, for the respective periods, with effective tax rates of 12.4% and 0.4%, respectively.  See Note 10