Company: MTZ
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000015615-25-000128
Chunk: 351

Company: MASTEC INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 6
Chunk 351
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 %$361.6 9.1 %$298.6 9.2 %$63.1 21.1 %

NM - Percentage is not meaningful

(a)    Recast to reflect first quarter of 2025 segment changes.  See Note 10 – Segments and Related Information in the notes to the consolidated financial statements, which is incorporated by reference, for additional information.

Communications Segment Results

Revenue.  The increase in revenue was driven primarily by higher levels of wireless and wireline project activity due, in part, to increased customer demand, 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 40 basis points, or $3 million, due to improved efficiencies, including from our wireless and wireline businesses.  Higher levels of revenue resulted in an increase in EBITDA of approximately $25 million.

Clean Energy and Infrastructure Segment Results

Revenue.  The increase in revenue was due primarily to higher levels of project activity and mix, primarily in our renewable projects.

31

EBITDA.  As a percentage of revenue, EBITDA increased by approximately 100 basis points, or $14 million, due to a combination of project mix, improved productivity and efficiencies, primarily from certain renewable and infrastructure project work, and the positive effects of certain industrial project close-outs.  Higher levels of revenue resulted in an increase in EBITDA of approximately $17 million.

Power Delivery Segment Results

Revenue.  The increase in revenue was due primarily to higher levels of project activity, including timing-related increases in transmission and distribution-related project work, as well as higher levels of certain infrastructure-related project work.  These increases were offset, in part, by a decrease in substation-related project activity, as well as a decrease in demand for emergency restoration services.

EBITDA.  As a percentage of revenue, EBITDA increased by approximately 30 basis points, or $4 million, primarily due to improved efficiencies, offset, in part, by a reduction in emergency restoration services.  Higher levels of revenue resulted in an increase in EBITDA of approximately $15 million.

Pipeline Infrastructure Segment Results

Revenue.  The increase in revenue was due primarily to higher levels of midstream pipeline and other infrastructure-related project activity.

EBITDA.  As a percentage of revenue, EBITDA decreased by