Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 770

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 770
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%Consolidated Total$12,303.5 $11,995.9 $307.5 2.6 %$950.8 7.7 %$754.9 6.3 %$196.0 26.0 %

NM - Percentage is not meaningful

(a)    For the year ended December 31, 2023, Communications, Clean Energy and Infrastructure and Power Delivery EBITDA included $22.5 million, $37.1 million and $8.5 million, respectively, of acquisition and integration costs related to our recent acquisitions, and Corporate EBITDA included $3.8 million of such costs.

Communications Segment Results

Revenue.  The increase in revenue was driven primarily by higher levels of wireless, wireline and utility project activity due, in part, to customer project timing in our wireless and wireline businesses.  These increases were offset, in part, by a decrease in our install-to-the-home project activity due, in part, to changes in consumer behavior resulting in lower demand.

EBITDA.  As a percentage of revenue, EBITDA increased by approximately 140 basis points, or $48 million, due to improved project efficiencies, including from our wireless and wireline businesses, and as a result of a reduction of approximately $23 million in certain acquisition and integration costs.  Higher levels of revenue resulted in an increase in EBITDA of approximately $17 million.

Clean Energy and Infrastructure Segment Results

Revenue.  The increase was primarily due to higher levels of heavy civil project activity, offset, in part, by lower levels of renewable and certain industrial and other infrastructure project work, due to various factors affecting timing of project work.

EBITDA.  As a percentage of revenue, EBITDA increased by approximately 290 basis points, or $120 million, due to a combination of improved productivity, and efficiencies, including from certain renewable, industrial and infrastructure project work, and a reduction of approximately $37 million in certain acquisition and integration costs, offset, in part, by the effects of certain overhead costs incurred to maintain operating capacity in support of expected future project work.  Higher levels of revenue resulted in an increase in EBITDA of approximately $4 million.

Power Delivery Segment Results

Revenue.  For the year ended December 31, 2024, acquisitions contributed $19 million of revenue, whereas organic revenue decreased by approximately $72 million as compared with 2023, due primarily to lower levels of project