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Is AI-Powered Infrastructure Turning MasTec Into a Bigger Winner?
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Key Takeaways
MasTec's second-quarter 2026 revenues rose 23% to $4.4B, while adjusted EPS surged 49% to $2.22.
MasTec's backlog reached $21.4B, up nearly $5B year over year, driven by infrastructure demand.
MTZ raised 2026 guidance to $18.2B in revenues, $1.6B adjusted EBITDA and $9.30 in EPS.
MasTec, Inc. (MTZ - Free Report) is increasingly positioning itself at the intersection of Artificial Intelligence and America’s infrastructure buildout, creating a potentially powerful growth opportunity. The company’s second-quarter 2026 results highlight how demand tied to data centers, power generation and digital connectivity is strengthening its outlook.
MasTec reported record second-quarter 2026 revenues of $4.4 billion, up 23% year over year, while adjusted EBITDA jumped 40% to $384.2 million. Adjusted earnings per share (EPS) surged 49% to $2.22. More importantly, 18-month backlog reached a record $21.4 billion, up nearly $5 billion year over year and $1.1 billion sequentially. The Clean Energy & Infrastructure segment emerged as a key growth engine, with revenues soaring 43.4% and EBITDA climbing 53.9%. Its backlog increased 58% year over year, supported by renewable energy, power generation, water infrastructure and turnkey data center opportunities. Meanwhile, Power Delivery benefited from utility investments in transmission, grid reliability and infrastructure required to support data-center demand.
MasTec’s Pipeline Infrastructure business also gained momentum, with EBITDA nearly doubling and margins expanding 690 basis points to 18.4%. The company noted that mission-critical power generation is driving its pipeline opportunities, adding another avenue for AI-related infrastructure spending. The July acquisition of Superior further strengthens the thesis. The deal adds roughly 3,000 employees and expands MasTec’s capabilities in electrical contracting and data center infrastructure.
Management raised its 2026 outlook to $18.2 billion in revenues, $1.6 billion in adjusted EBITDA and $9.30 in adjusted EPS. With substantial backlog expected to contribute beyond 2026, MasTec appears increasingly equipped to capitalize on the long-term AI infrastructure cycle.
AI Infrastructure Faceoff: Can MasTec Beat EMCOR & Dycom?
MasTec is well-positioned to benefit from the accelerating buildout of AI-powered infrastructure, alongside notable peers like EMCOR Group, Inc. (EME - Free Report) and Dycom Industries, Inc. (DY - Free Report) , but their exposure differs.
MTZ offers the broadest play, with a record $21.4 billion backlog and strong demand across power delivery, clean energy, data centers and pipeline infrastructure. Its Superior acquisition further expands electrical and data-center capabilities.
Meanwhile, EMCOR stands to benefit from rising demand for mission-critical electrical, mechanical and building systems as data centers require massive power and cooling investments. Dycom provides a more focused digital-infrastructure angle, benefiting from fiber deployments, data-center connectivity and electrical infrastructure. Its backlog and long-term customer relationships provide strong visibility, while acquisitions are expanding its data-center capabilities.
Overall, MasTec appears better diversified, EMCOR offers deep mission-critical expertise, while Dycom provides stronger exposure to AI-driven connectivity.
MTZ Stock’s Price Performance & Valuation Trend
Shares of this Florida-based infrastructure construction company have inched up 9.4% year to date, outperforming the Zacks Building Products - Heavy Construction industry and the broader Zacks Construction sector, but underperforming 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 20.44, as shown in the chart below.
Image Source: Zacks Investment Research
EPS Trend of MasTec
MTZ’s earnings estimates for 2026 and 2027 have trended down over the past 30 days to $9.31 per share and $12.77 per share, respectively. However, the estimated figures for 2026 and 2027 imply 42.1% and 37.2% year-over-year growth, respectively.
View the Zacks #1 Rank List
Image: Bigstock
Is AI-Powered Infrastructure Turning MasTec Into a Bigger Winner?
Key Takeaways
MasTec, Inc. (MTZ - Free Report) is increasingly positioning itself at the intersection of Artificial Intelligence and America’s infrastructure buildout, creating a potentially powerful growth opportunity. The company’s second-quarter 2026 results highlight how demand tied to data centers, power generation and digital connectivity is strengthening its outlook.
MasTec reported record second-quarter 2026 revenues of $4.4 billion, up 23% year over year, while adjusted EBITDA jumped 40% to $384.2 million. Adjusted earnings per share (EPS) surged 49% to $2.22. More importantly, 18-month backlog reached a record $21.4 billion, up nearly $5 billion year over year and $1.1 billion sequentially. The Clean Energy & Infrastructure segment emerged as a key growth engine, with revenues soaring 43.4% and EBITDA climbing 53.9%. Its backlog increased 58% year over year, supported by renewable energy, power generation, water infrastructure and turnkey data center opportunities. Meanwhile, Power Delivery benefited from utility investments in transmission, grid reliability and infrastructure required to support data-center demand.
MasTec’s Pipeline Infrastructure business also gained momentum, with EBITDA nearly doubling and margins expanding 690 basis points to 18.4%. The company noted that mission-critical power generation is driving its pipeline opportunities, adding another avenue for AI-related infrastructure spending. The July acquisition of Superior further strengthens the thesis. The deal adds roughly 3,000 employees and expands MasTec’s capabilities in electrical contracting and data center infrastructure.
Management raised its 2026 outlook to $18.2 billion in revenues, $1.6 billion in adjusted EBITDA and $9.30 in adjusted EPS. With substantial backlog expected to contribute beyond 2026, MasTec appears increasingly equipped to capitalize on the long-term AI infrastructure cycle.
AI Infrastructure Faceoff: Can MasTec Beat EMCOR & Dycom?
MasTec is well-positioned to benefit from the accelerating buildout of AI-powered infrastructure, alongside notable peers like EMCOR Group, Inc. (EME - Free Report) and Dycom Industries, Inc. (DY - Free Report) , but their exposure differs.
MTZ offers the broadest play, with a record $21.4 billion backlog and strong demand across power delivery, clean energy, data centers and pipeline infrastructure. Its Superior acquisition further expands electrical and data-center capabilities.
Meanwhile, EMCOR stands to benefit from rising demand for mission-critical electrical, mechanical and building systems as data centers require massive power and cooling investments. Dycom provides a more focused digital-infrastructure angle, benefiting from fiber deployments, data-center connectivity and electrical infrastructure. Its backlog and long-term customer relationships provide strong visibility, while acquisitions are expanding its data-center capabilities.
Overall, MasTec appears better diversified, EMCOR offers deep mission-critical expertise, while Dycom provides stronger exposure to AI-driven connectivity.
MTZ Stock’s Price Performance & Valuation Trend
Shares of this Florida-based infrastructure construction company have inched up 9.4% year to date, outperforming the Zacks Building Products - Heavy Construction industry and the broader Zacks Construction sector, but underperforming 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 20.44, as shown in the chart below.
Image Source: Zacks Investment Research
EPS Trend of MasTec
MTZ’s earnings estimates for 2026 and 2027 have trended down over the past 30 days to $9.31 per share and $12.77 per share, respectively. However, the estimated figures for 2026 and 2027 imply 42.1% and 37.2% year-over-year growth, respectively.
Image Source: Zacks Investment Research
MasTec stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.