MasTec, Inc.

MasTec Suspends Late Stage Negotiations of an Acquisition to Prioritize Share Repurchases

MasTec suspended late-stage negotiations on a large potentially accretive acquisition, saying it will prioritize share repurchases instead. The company has an existing $250 million board buyback authorization with the full amount available, funded from cash on hand and its revolving credit facility. No repurchase amount is committed and the suspended deal talks could resume; the announcement signals a shift toward capital return over M&A-driven growth.

•3d ago

MasTec Reports Third Quarter 2026 Results and Updates Full Year 2026 Financial Guidance

MasTec posted record Q3 2026 revenue of $5.2 billion, up 30% year-over-year, with record Adjusted EBITDA of $486.4 million and Adjusted diluted EPS of $2.96 (+19.3% YoY). GAAP diluted EPS of $1.89 fell 7.7% on higher amortization from recent acquisitions. The 18-month backlog hit a record $24.5 billion, up 46% YoY and $3.2 billion sequentially, led by 74% YoY Power Delivery growth and a ~26% sequential Pipeline backlog increase; Power Delivery revenue grew 65% including the Superior Group acquisition completed in July. Management raised FY2026 Adjusted diluted EPS guidance to $8.92-$9.30 (+39% YoY at midpoint) but held Adjusted EBITDA guidance roughly flat versus prior guidance, citing permitting-related pipeline project delays and Communications softness from customer spending deferrals. MasTec expects over $1 billion in 2026 operating cash flow and detailed financing moves including a $2.25 billion upsized revolver, a $700 million term loan, and $650 million of 5.850% senior notes due 2036.

•10d ago

MasTec Reports Second Quarter 2026 Results and Updates Full Year 2026 Financial Guidance

MasTec delivered record Q2 2026 results with revenue of $4.4 billion, up 23% year-over-year, and diluted EPS of $1.65, up 51%. The company raised its full-year 2026 guidance, targeting adjusted diluted EPS of $9.30, a 42% increase year-over-year, supported by a record 18-month backlog of $21.4 billion. Management highlighted the closing of the Superior Group acquisition, which enhances capabilities in data center infrastructure and strengthens confidence in exceeding three-year financial objectives.

•3mo ago

MasTec Completes Previously Announced Acquisition of The Superior Group

MasTec closed its acquisition of The Superior Group, a full-service electrical contractor, for approximately $1.65 billion in cash and stock. The deal adds roughly 3,000 employees and strengthens MasTec's ability to serve the data center, power, and mission-critical infrastructure markets. Financing for the transaction was provided through cash on hand, drawings on existing credit facilities, and new delayed draw term loan facilities.

•3mo ago

MasTec to Acquire The Superior Group, Enhancing MasTec's Infrastructure Capabilities Across Data Center and Mission-Critical End Markets

MasTec announced a definitive agreement to acquire The Superior Group for approximately $1.65 billion, comprising $1.175 billion in cash and $475 million in stock. The acquisition adds roughly 3,000 employees and significantly expands MasTec's footprint in the data center and mission-critical infrastructure end markets, a high-growth area. MasTec expects the transaction to be immediately accretive to revenue, Adjusted EBITDA, and EPS, with the target projected to contribute $800M-$900M in revenue for the remainder of 2026 and $2.2B-$2.5B for the full year 2027.

•4mo ago

MasTec Announces the Appointment of Manny Miranda to its Board of Directors

MasTec appointed Manny Miranda to its Board of Directors as a Class II Director, effective immediately. Mr. Miranda brings over 40 years of utility industry experience from his tenure at Florida Power & Light and Florida City Gas, with expertise spanning transmission, distribution, and storm hardening. He currently serves on the board of CenterPoint Energy, aligning his background closely with MasTec's power delivery and infrastructure operations.

•4mo ago