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Is MasTec Positioned to Benefit From Expanding Telecom Infrastructure?
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Key Takeaways
MasTec's Communications segment posted Q3 revenues of $915M, up 33% year over year.
The company sees strong wireless and wireline demand amid nationwide broadband expansion.
A growing $5.1B backlog and a ramping Lumen contract support visibility into 2026.
MasTec, Inc. (MTZ - Free Report) is strengthening its presence in the rapidly evolving U.S. telecom infrastructure landscape, supported by broad-based demand for wireless and wireline services, expanding fiber deployment and rising capital investments tied to artificial intelligence and data-center connectivity. As broadband expansion accelerates nationwide, the company is increasingly positioned to participate in large-scale programs that require both execution depth and geographic reach.
In the third quarter of 2025, the company’s Communications segment delivered significant momentum, underscoring the scale and durability of current demand trends. Segment revenues reached $915 million, reflecting 33% year-over-year growth and surpassing internal expectations. The company highlighted that the telecom infrastructure market remains highly active, with customers investing heavily to modernize broadband delivery, replace legacy cable systems and enable higher data throughput to support advanced AI applications. Communications backlog totaled $5.1 billion, rising 14.5% year over year and reinforcing strong industry visibility.
MasTec continues to benefit from solid wireless growth driven by geographic expansion and enhanced service offerings for existing customers. On the wireline side, demand remains supported by extensive broadband initiatives from legacy telecom operators, cable companies and new fiber overbuilders. This nationwide race to deliver fiber connectivity also includes meaningful middle-mile opportunities, while hyperscaler capital spending tied to data-center build-outs is contributing to incremental fiber deployment needs. The company’s contract with Lumen, now ramping steadily, is expected to provide additional growth visibility into 2026.
Going forward, the company sees a supportive backdrop for continued expansion as wireless and wireline demand remains elevated, fiber deployment accelerates and data-center connectivity needs intensify. With broad customer activity, a ramping Lumen program and a growing backlog underpinning visibility, the company believes its Communications segment is well-positioned to build on this momentum across the evolving telecom infrastructure market.
The accelerating expansion of telecom and digital infrastructure is opening new avenues across the construction and services industry. Primoris Services Corporation (PRIM - Free Report) and Quanta Services, Inc. (PWR - Free Report) are two companies benefiting from rising demand for broadband, network upgrades and data-center connectivity.
Primoris continues to strengthen its position as large data centers and broadband developers require higher electrical capacity and more advanced communication links. In the third quarter of 2025, Primoris delivered revenues of $2.2 billion, a 32.1% year-over-year increase, supported by strong activity in its Utilities and Energy segments. Power Delivery work accelerated as customers invested in grid enhancements, lifting Utility backlog to nearly $6.6 billion. Communications operations also expanded through major broadband programs, EPC network projects and rising middle-mile and data-loop fiber work that supports growing digital infrastructure requirements.
Quanta is also seeing strong demand tied to expanding telecom and data-center construction, supported by its capabilities in electric power, communications and grid connectivity. The company continues to secure large contracts that improve network reliability and energy delivery for high-load facilities. With a record backlog and steady bookings across transmission and communications projects, Quanta is positioned to benefit further from sustained investment in digital and broadband infrastructure.
MTZ Stock’s Price Performance & Valuation Trend
Shares of this Florida-based infrastructure construction company have gained 14.3% in the past three months, outperforming the Zacks Building Products - Heavy Construction industry, the broader Zacks Construction sector and the S&P 500 index.
Image Source: Zacks Investment Research
MTZ stock is currently trading at a premium compared with its industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 26.06, as shown in the chart below.
Image Source: Zacks Investment Research
EPS Trend Favors MTZ
For 2025 and 2025, MTZ’s earnings estimates have trended upward to $6.35 and $8.06 per share, respectively, in the past 30 days. The revised estimated figures for 2025 and 2026 imply 60.8% and 27% year-over-year growth, respectively.
Image: Bigstock
Is MasTec Positioned to Benefit From Expanding Telecom Infrastructure?
Key Takeaways
MasTec, Inc. (MTZ - Free Report) is strengthening its presence in the rapidly evolving U.S. telecom infrastructure landscape, supported by broad-based demand for wireless and wireline services, expanding fiber deployment and rising capital investments tied to artificial intelligence and data-center connectivity. As broadband expansion accelerates nationwide, the company is increasingly positioned to participate in large-scale programs that require both execution depth and geographic reach.
In the third quarter of 2025, the company’s Communications segment delivered significant momentum, underscoring the scale and durability of current demand trends. Segment revenues reached $915 million, reflecting 33% year-over-year growth and surpassing internal expectations. The company highlighted that the telecom infrastructure market remains highly active, with customers investing heavily to modernize broadband delivery, replace legacy cable systems and enable higher data throughput to support advanced AI applications. Communications backlog totaled $5.1 billion, rising 14.5% year over year and reinforcing strong industry visibility.
MasTec continues to benefit from solid wireless growth driven by geographic expansion and enhanced service offerings for existing customers. On the wireline side, demand remains supported by extensive broadband initiatives from legacy telecom operators, cable companies and new fiber overbuilders. This nationwide race to deliver fiber connectivity also includes meaningful middle-mile opportunities, while hyperscaler capital spending tied to data-center build-outs is contributing to incremental fiber deployment needs. The company’s contract with Lumen, now ramping steadily, is expected to provide additional growth visibility into 2026.
Going forward, the company sees a supportive backdrop for continued expansion as wireless and wireline demand remains elevated, fiber deployment accelerates and data-center connectivity needs intensify. With broad customer activity, a ramping Lumen program and a growing backlog underpinning visibility, the company believes its Communications segment is well-positioned to build on this momentum across the evolving telecom infrastructure market.
Rising Telecom Infrastructure Investment Boosts Key Players
The accelerating expansion of telecom and digital infrastructure is opening new avenues across the construction and services industry. Primoris Services Corporation (PRIM - Free Report) and Quanta Services, Inc. (PWR - Free Report) are two companies benefiting from rising demand for broadband, network upgrades and data-center connectivity.
Primoris continues to strengthen its position as large data centers and broadband developers require higher electrical capacity and more advanced communication links. In the third quarter of 2025, Primoris delivered revenues of $2.2 billion, a 32.1% year-over-year increase, supported by strong activity in its Utilities and Energy segments. Power Delivery work accelerated as customers invested in grid enhancements, lifting Utility backlog to nearly $6.6 billion. Communications operations also expanded through major broadband programs, EPC network projects and rising middle-mile and data-loop fiber work that supports growing digital infrastructure requirements.
Quanta is also seeing strong demand tied to expanding telecom and data-center construction, supported by its capabilities in electric power, communications and grid connectivity. The company continues to secure large contracts that improve network reliability and energy delivery for high-load facilities. With a record backlog and steady bookings across transmission and communications projects, Quanta is positioned to benefit further from sustained investment in digital and broadband infrastructure.
MTZ Stock’s Price Performance & Valuation Trend
Shares of this Florida-based infrastructure construction company have gained 14.3% in the past three months, outperforming the Zacks Building Products - Heavy Construction industry, the broader Zacks Construction sector and the S&P 500 index.
Image Source: Zacks Investment Research
MTZ stock is currently trading at a premium compared with its industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 26.06, as shown in the chart below.
Image Source: Zacks Investment Research
EPS Trend Favors MTZ
For 2025 and 2025, MTZ’s earnings estimates have trended upward to $6.35 and $8.06 per share, respectively, in the past 30 days. The revised estimated figures for 2025 and 2026 imply 60.8% and 27% year-over-year growth, respectively.
Image Source: Zacks Investment Research
MasTec currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.