MasTec (NYSE:MTZ) Issues Earnings Results

Key Points

• MasTec exceeded quarterly expectations: EPS came in at $2.96 versus the $2.95 consensus, while revenue reached $5.15 billion, up 29.9% year over year and above the $4.94 billion estimate.
• Backlog surged approximately 46% to $24.5 billion, signaling strong demand across data-center, communications, energy and other infrastructure businesses. However, project delays and questions about margins and cash flow remain concerns.
• Shares fell to about $176 following the results despite the headline beat, while analysts broadly maintained positive ratings but lowered several price targets; the consensus target is $365.10.

MasTec (NYSE:MTZ - Get Free Report) announced its earnings results on Thursday. The construction company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.01, FiscalAI reports. The company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $4.94 billion. MasTec had a return on equity of 18.08% and a net margin of 3.07%. The company's revenue was up 29.9% on a year-over-year basis. During the same period last year, the business posted $2.48 EPS.

MasTec Price Performance

MTZ stock traded down $4.71 during midday trading on Thursday, hitting $176.29. 2,540,479 shares of the stock were exchanged, compared to its average volume of 1,337,132. The stock's 50-day moving average price is $217.32 and its 200-day moving average price is $300.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.37 and a current ratio of 1.40. The stock has a market cap of $14.16 billion, a price-to-earnings ratio of 23.30 and a beta of 1.84. MasTec has a fifty-two week low of $164.31 and a fifty-two week high of $441.43.

Key Stories Impacting MasTec

Here are the key news stories impacting MasTec this week:

• Positive Sentiment: MasTec reported third-quarter revenue of approximately $5.2 billion, up about 30% year over year and ahead of the roughly $4.94 billion analyst estimate. Adjusted EBITDA also rose about 30% to $486 million. MasTec Reports Third Quarter 2026 Results and Updates Full Year 2026 Financial Guidance
• Positive Sentiment: Backlog increased approximately 46% year over year to $24.5 billion, supporting expectations for future revenue and reflecting demand across MasTec’s infrastructure businesses, including data centers and communications. MasTec quarterly results
• Positive Sentiment: Reported EPS of $2.96 edged past the $2.95 consensus estimate and increased from $2.48 in the year-ago quarter, while revenue growth substantially exceeded expectations. MasTec earnings results
• Neutral Sentiment: MasTec updated its full-year 2026 financial guidance. Investors are likely focusing on the specific changes to the outlook and whether the strong backlog will translate into higher margins and cash flow. MasTec guidance update
• Negative Sentiment: Despite the headline EPS beat and revenue outperformance, market coverage described the quarter as an earnings miss, indicating that an underlying earnings metric or profitability outlook fell short of investor expectations. MasTec falls as earnings miss offsets revenue beat
• Negative Sentiment: Reports highlighted project delays alongside data-center opportunities, raising concerns about timing, execution and near-term margin pressure even as demand remains strong. MasTec stock faces earnings test

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Stifel Nicolaus cut their price objective on shares of MasTec from $376.00 to $305.00 and set a "buy" rating for the company in a research report on Thursday, October 8th. Robert W. Baird reduced their target price on shares of MasTec from $475.00 to $363.00 and set an "outperform" rating for the company in a research note on Monday, August 3rd. Truist Financial lowered their target price on shares of MasTec from $428.00 to $380.00 and set a "buy" rating on the stock in a report on Monday, October 5th. Cantor Fitzgerald reiterated an "overweight" rating and set a $348.00 price target on shares of MasTec in a research note on Monday, October 12th. Finally, UBS Group lowered their price objective on MasTec from $453.00 to $410.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. Nineteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, MasTec currently has an average rating of "Moderate Buy" and a consensus target price of $365.10.

About MasTec

MasTec, Inc is an infrastructure construction and engineering company that provides services to the communications, energy, utility, and industrial sectors. The company designs, builds, installs, maintains, and upgrades infrastructure for wireless and wireline communications networks, including cellular, broadband, fiber-optic, and other connectivity systems.

MasTec also performs construction and maintenance work for electric transmission and distribution systems, renewable energy projects, and other power infrastructure.

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