Company: MTZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000015615-25-000052
Chunk: 281

Company: MASTEC INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 6
Chunk 281
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 affiliates, net(10.3)(0.4)%(9.2)(0.3)%(1.1)11.9 %Other (income) expense, net(1.6)(0.1)%3.2 0.1 %(4.8)NMIncome (loss) before income taxes$8.9 0.3 %$(45.5)(1.7)%$54.5 NMBenefit from income taxes3.4 0.1 %11.1 0.4 %(7.7)(69.5)%Net income (loss)$12.3 0.4 %$(34.5)(1.3)%$46.8 NMNet income attributable to non-controlling interests2.4 0.1 %6.7 0.3 %(4.3)(63.9)%Net income (loss) attributable to MasTec, Inc.$9.9 0.3 %$(41.2)(1.5)%$51.1 NM

Three Months Ended March 31, 2025 Compared to Three Months Ended March 31, 2024 

Revenue.  On a consolidated basis, revenue increased by $161 million driven by our segment results as follows: revenue increased in our Communications segment by approximately $175 million, or 35%, in our Clean Energy and Infrastructure segment by approximately $162 million, or 22%, and in our Power Delivery segment by approximately $102 million, or 13%, and decreased in our Pipeline Infrastructure segment by approximately $277 million, or 44%.  See below for details of revenue by segment.

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Costs of revenue, excluding depreciation and amortization.  Higher levels of revenue contributed an increase of $142 million in costs of revenue, excluding depreciation and amortization, and reduced productivity contributed an increase of approximately $14 million.  Costs of revenue, excluding depreciation and amortization, as a percentage of revenue increased by approximately 50 basis points to 89.1% of revenue for the three month period ended March 31, 2025 from 88.6% of revenue for the same period in 2024.  The basis point increase was due to a combination of project mix and reduced project efficiencies, primarily within our Power Delivery and Pipeline Infrastructure segments, largely offset by improved productivity within our Clean Energy and Infrastructure segment.  See “Analysis of Revenue and EBITDA by Segment” below for discussion