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MasTec Q3 revenue beats estimates on strength in power delivery segment

By Reuters News


Overview

  • US infrastructure builder's Q3 revenue rose 30% yr/yr, beating analyst expectations

  • Adjusted diluted EPS for Q3 rose 19% yr/yr

  • Company backlog hit record $24.5 bln, led by 74% yr/yr growth in Power Delivery


Outlook

  • MasTec sees 2026 revenue at $18.3 bln

  • Company expects 2026 adj diluted EPS of $8.92-$9.30

  • MasTec says delayed pipeline project starts may shift revenue and earnings into 2027


Result Drivers

  • POWER DELIVERY - Strong Power Delivery segment performance, including Superior acquisition, drove Q3 results

  • PIPELINE DELAYS - Permitting delays on pipeline projects led to margin pressure and underutilized resources

  • SUSTAINED DEMAND - Co continues to see sustained demand strength across service offerings, notably in support of utility and large-load infrastructure


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$5.15 bln

$4.94 bln (19 Analysts)

Q3 EPS

$1.89

Q3 Net Income

$168 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 22 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the construction & engineering peer group is "buy"

  • Wall Street's median 12-month price target for MasTec Inc is $348.00, about 92.3% above its October 28 closing price of $181.00

  • The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 41 three months ago


Reuters Recommended Reads

  • Oct 29 - Caterpillar Q3 revenue rises 17%, slightly beats estimates

  • Oct 29 - Quanta Services Q3 revenue beats on broadening demand; raises 2026 outlook


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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