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In the last reported quarter, MasTec posted adjusted earnings per share (EPS) of $1.49, beating the consensus mark and rising 49.1% year over year. Adjusted EBITDA increased 1.3% to $275 million, driven by strong execution across Communications, Power Delivery, and Clean Energy and Infrastructure segments. Revenues were $3.55 billion, up 7% from the prior year, supported by higher project activity in broadband expansion, grid modernization and renewable energy markets.
This Florida-based infrastructure construction company has an impressive record of surpassing earnings expectations, exceeding the consensus mark in the last four quarters. The average surprise over this period is 25.2%, as shown in the chart below.
Image Source: Zacks Investment Research
How Are Estimates Placed for MTZ?
The Zacks Consensus Estimate for the third-quarter EPS has been unchanged at $2.31 over the past 30 days. The estimated figure indicates 41.7% growth from the year-ago reported figure. The consensus mark for revenues is $3.9 billion, indicating a 20% year-over-year growth.
For 2025, MTZ is expected to register 60% EPS growth from that reported a year ago.
Image Source: Zacks Investment Research
What the Zacks Model Unveils for MasTec
Our proven model predicts an earnings beat for MasTec this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is exactly the case here, as elaborated below.
Earnings ESP: MasTec currently has an Earnings ESP of +3.77%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Factors Likely to Shape MasTec’s Quarterly Results
MasTec is expected to have maintained steady growth in the third quarter of 2025, supported by solid demand across communications, power delivery and clean energy markets. The company is likely to have benefited from continued investment in broadband expansion, grid modernization and renewable energy projects. A record backlog and healthy project pipeline are expected to have provided strong visibility for top-line growth during the quarter.
For the third quarter, MasTec expects revenues of about $3.9 billion compared with $3.25 billion reported in the prior-year quarter.
The Communications segment is expected to have remained a key growth driver, supported by expanding fiber networks and wireless projects. Strong demand from telecom and technology customers for faster networks and wider coverage is likely to have driven activity. Rising investments in data center connectivity and AI-related infrastructure are also expected to have supported growth. Federal broadband programs are likely to have ensured a steady flow of new projects during the period.
The Clean Energy and Infrastructure segment is expected to have contributed positively to the company’s third-quarter performance. Continued investment in renewables and infrastructure projects, supported by favorable legislation and tax incentives, is likely to have sustained strong activity levels. Utility-scale renewable projects and transmission upgrades are expected to have supported revenue growth, while a healthy backlog might have ensured execution momentum through the quarter. The Zacks Consensus Estimate for the third-quarter revenues for the Clean Energy and Infrastructure segment is pegged at $1.4 billion, indicating an increase from $1.13 billion reported in the prior quarter.
The Power Delivery segment is expected to have benefited from increasing utility spending on grid modernization. Ongoing investments to enhance reliability and expand transmission capacity are likely to have supported performance. The company’s ability to capture high-value projects with improved pricing and execution efficiency might have further strengthened results under this segment. For the Power Delivery unit, revenues are currently pegged at $1.13 billion, up from $713 million reported a year ago.
From a margin perspective, MasTec is expected to have benefited from operational efficiencies and improved project execution across non-pipeline operations. Higher volumes in communications and clean energy are likely to have supported better absorption, while disciplined cost management and focus on execution might have aided profitability.
For the third quarter, the company expects adjusted EBITDA to be $370 million, implying an increase from $305.9 million reported a year ago. The company estimates adjusted earnings per share to be $2.28 for third-quarter 2025, indicating an increase from $1.63 reported in the year-ago quarter.
Overall, the company is expected to have delivered stable performance in the third quarter of 2025, backed by strong demand across core end markets and sustained backlog strength, providing continued visibility into long-term growth. For backlog, the consensus mark is currently pegged at $16.45 billion compared with $13.86 billion reported a year ago.
MTZ Stock’s Price Performance & Valuation
So far this year, shares of MasTec have gained 55.7% compared with the Zacks Building Products - Heavy Construction industry’s and the S&P 500’s growth of 53.5% and 18.3%, respectively. MTZ stock has also outperformed the broader Construction sector's 6.9% rise during the same period. The stock has outperformed some other players, including AECOM (ACM - Free Report) , Fluor Corporation (FLR - Free Report) and KBR, Inc. (KBR - Free Report) . In the said time frame, AECOM’s shares have gained 24.1%, while shares of Fluor and KBR have declined 1.6% and 24.4%, respectively.
Image Source: Zacks Investment Research
MasTec’s shares are currently trading at a forward 12-month price-to-earnings (P/E) of 28.18, a 15.8% premium to the industry average of 24.33.
MTZ’s P/E Ratio (Forward 12 Months) vs. Industry
Image Source: Zacks Investment Research
MTZ stock also appears overvalued compared with other peer companies. AECOM, Fluor and KBR have a forward P/E of 23.26, 22.09 and 10.65, respectively.
Should You Hold on to MTZ Stock Now?
MasTec is expected to have delivered solid third-quarter results, supported by broad-based demand across communications, power delivery and clean energy markets. Strong project execution and a record backlog are likely to have reinforced top-line momentum, while disciplined cost management might have supported margin improvement. The company’s diversified exposure to high-growth infrastructure areas continues to provide visibility for sustained performance through the remainder of 2025.
That said, the stock’s sharp rally this year and premium valuation indicate limited near-term upside potential. Investors may consider holding the stock ahead of the earnings release while monitoring updates on new project awards and margin trends for clearer direction.
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MasTec to Post Q3 Earnings: Buy or Hold the Stock Ahead of Results?
Key Takeaways
MasTec, Inc. (MTZ - Free Report) is scheduled to report third-quarter 2025 results on Oct. 30, after the closing bell.
In the last reported quarter, MasTec posted adjusted earnings per share (EPS) of $1.49, beating the consensus mark and rising 49.1% year over year. Adjusted EBITDA increased 1.3% to $275 million, driven by strong execution across Communications, Power Delivery, and Clean Energy and Infrastructure segments. Revenues were $3.55 billion, up 7% from the prior year, supported by higher project activity in broadband expansion, grid modernization and renewable energy markets.
This Florida-based infrastructure construction company has an impressive record of surpassing earnings expectations, exceeding the consensus mark in the last four quarters. The average surprise over this period is 25.2%, as shown in the chart below.
Image Source: Zacks Investment Research
How Are Estimates Placed for MTZ?
The Zacks Consensus Estimate for the third-quarter EPS has been unchanged at $2.31 over the past 30 days. The estimated figure indicates 41.7% growth from the year-ago reported figure. The consensus mark for revenues is $3.9 billion, indicating a 20% year-over-year growth.
For 2025, MTZ is expected to register 60% EPS growth from that reported a year ago.
Image Source: Zacks Investment Research
What the Zacks Model Unveils for MasTec
Our proven model predicts an earnings beat for MasTec this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is exactly the case here, as elaborated below.
Earnings ESP: MasTec currently has an Earnings ESP of +3.77%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Factors Likely to Shape MasTec’s Quarterly Results
MasTec is expected to have maintained steady growth in the third quarter of 2025, supported by solid demand across communications, power delivery and clean energy markets. The company is likely to have benefited from continued investment in broadband expansion, grid modernization and renewable energy projects. A record backlog and healthy project pipeline are expected to have provided strong visibility for top-line growth during the quarter.
For the third quarter, MasTec expects revenues of about $3.9 billion compared with $3.25 billion reported in the prior-year quarter.
The Communications segment is expected to have remained a key growth driver, supported by expanding fiber networks and wireless projects. Strong demand from telecom and technology customers for faster networks and wider coverage is likely to have driven activity. Rising investments in data center connectivity and AI-related infrastructure are also expected to have supported growth. Federal broadband programs are likely to have ensured a steady flow of new projects during the period.
The Clean Energy and Infrastructure segment is expected to have contributed positively to the company’s third-quarter performance. Continued investment in renewables and infrastructure projects, supported by favorable legislation and tax incentives, is likely to have sustained strong activity levels. Utility-scale renewable projects and transmission upgrades are expected to have supported revenue growth, while a healthy backlog might have ensured execution momentum through the quarter. The Zacks Consensus Estimate for the third-quarter revenues for the Clean Energy and Infrastructure segment is pegged at $1.4 billion, indicating an increase from $1.13 billion reported in the prior quarter.
The Power Delivery segment is expected to have benefited from increasing utility spending on grid modernization. Ongoing investments to enhance reliability and expand transmission capacity are likely to have supported performance. The company’s ability to capture high-value projects with improved pricing and execution efficiency might have further strengthened results under this segment. For the Power Delivery unit, revenues are currently pegged at $1.13 billion, up from $713 million reported a year ago.
From a margin perspective, MasTec is expected to have benefited from operational efficiencies and improved project execution across non-pipeline operations. Higher volumes in communications and clean energy are likely to have supported better absorption, while disciplined cost management and focus on execution might have aided profitability.
For the third quarter, the company expects adjusted EBITDA to be $370 million, implying an increase from $305.9 million reported a year ago. The company estimates adjusted earnings per share to be $2.28 for third-quarter 2025, indicating an increase from $1.63 reported in the year-ago quarter.
Overall, the company is expected to have delivered stable performance in the third quarter of 2025, backed by strong demand across core end markets and sustained backlog strength, providing continued visibility into long-term growth. For backlog, the consensus mark is currently pegged at $16.45 billion compared with $13.86 billion reported a year ago.
MTZ Stock’s Price Performance & Valuation
So far this year, shares of MasTec have gained 55.7% compared with the Zacks Building Products - Heavy Construction industry’s and the S&P 500’s growth of 53.5% and 18.3%, respectively. MTZ stock has also outperformed the broader Construction sector's 6.9% rise during the same period. The stock has outperformed some other players, including AECOM (ACM - Free Report) , Fluor Corporation (FLR - Free Report) and KBR, Inc. (KBR - Free Report) . In the said time frame, AECOM’s shares have gained 24.1%, while shares of Fluor and KBR have declined 1.6% and 24.4%, respectively.
Image Source: Zacks Investment Research
MasTec’s shares are currently trading at a forward 12-month price-to-earnings (P/E) of 28.18, a 15.8% premium to the industry average of 24.33.
MTZ’s P/E Ratio (Forward 12 Months) vs. Industry
Image Source: Zacks Investment Research
MTZ stock also appears overvalued compared with other peer companies. AECOM, Fluor and KBR have a forward P/E of 23.26, 22.09 and 10.65, respectively.
Should You Hold on to MTZ Stock Now?
MasTec is expected to have delivered solid third-quarter results, supported by broad-based demand across communications, power delivery and clean energy markets. Strong project execution and a record backlog are likely to have reinforced top-line momentum, while disciplined cost management might have supported margin improvement. The company’s diversified exposure to high-growth infrastructure areas continues to provide visibility for sustained performance through the remainder of 2025.
That said, the stock’s sharp rally this year and premium valuation indicate limited near-term upside potential. Investors may consider holding the stock ahead of the earnings release while monitoring updates on new project awards and margin trends for clearer direction.