Company: MTZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000015615-25-000052
Chunk: 139

Company: MASTEC INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 2
Chunk 139
---
 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 5.7 %Segment:Communications$46.8 6.9 %$25.6 5.1 %Clean Energy and Infrastructure57.1 6.2 %20.4 2.7 %Power Delivery51.3 5.7 %50.5 6.3 %Pipeline Infrastructure44.5 12.5 %92.8 14.6 %Other8.0 NM7.0 NMSegment Total$207.7 7.3 %$196.4 7.3 %Corporate(44.1)— (43.5)— Adjusted EBITDA$163.7 5.7 %$152.8 5.7 %

NM - Percentage is not meaningful

(a)    Recast to reflect segment changes.

(b)    Non-cash stock-based compensation expense and changes in fair value of acquisition-related contingent items are included within Corporate EBITDA.

30

The tables below, which may contain slight summation differences due to rounding, reconcile reported net income (loss) and reported diluted earnings (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