Company: MTZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000015615-25-000052
Chunk: 288

Company: MASTEC INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 6
Chunk 288
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 financial measures and the provided reconciliations thereto.  We believe these non-U.S. GAAP financial measures, when viewed together with our U.S. GAAP results and related reconciliations, provide a more complete understanding of our business.  We strongly encourage investors to review our consolidated financial statements and publicly filed reports in their entirety and not rely on any single financial measure.

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The following table presents a reconciliation of net income (loss) to EBITDA and Adjusted EBITDA in dollar and percentage of revenue terms for the periods indicated.  The tables below (dollar amounts in millions) may contain slight summation differences due to rounding.

Three Months Ended March 31, EBITDA Reconciliation:20252024Net income (loss)$12.3 0.4 %$(34.5)(1.3)%Interest expense, net39.0 1.4 %52.1 1.9 %Benefit from income taxes(3.4)(0.1)%(11.1)(0.4)%Depreciation76.2 2.7 %107.4 4.0 %Amortization of intangible assets32.6 1.1 %33.7 1.3 %EBITDA $156.8 5.5 %$147.6 5.5 %Non-cash stock-based compensation expense6.9 0.2 %9.7 0.4 %Changes in fair value of acquisition-related contingent items(0.1)(0.0)%(4.6)(0.2)%Adjusted EBITDA$163.7 5.7 %$152.8 5.7 %

A reconciliation of EBITDA and EBITDA margin to Adjusted EBITDA and Adjusted EBITDA margin by segment for the periods indicated is as follows:                                            Three Months Ended March 31, 20252024 (a)EBITDA$156.8 5.5 %$147.6 5.5 %Non-cash stock-based compensation expense (b)6.9 0.2 %9.7 0.4 %Changes in fair value of acquisition-related contingent items (b)(0.1)(0.0)%(4.6)(0.2)%Adjusted EBITDA$163.7 5.7 %$152.8 5