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Earnings analysis · 10-Q

MTZ earnings analysis

Filed April 30, 2026 · Our reading of the company's report

The latest report

MasTec, Inc. reported significant growth in Q1 2026 with a 34.5% increase in revenue to $3.83 billion and an impressive EPS of $1.39, beating estimates by 43.3%. The Clean Energy and Infrastructure segment led this…

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MasTec, Inc. reported significant growth in Q1 2026 with a 34.5% increase in revenue to $3.83 billion and an impressive EPS of $1.39, beating estimates by 43.3%. The Clean Energy and Infrastructure segment led this growth, showing a 45.2% increase, while overall operational efficiency improved, reflected in a reduced cost of revenue ratio.

Read the original on SEC.gov

From revenue to operating profit

Where each $100 of revenue went in this report.

Of every $100 of revenue Cost of sales $87 Operating expenses $9 Left as operating profit $4

Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.

Where revenue came from

The business segments reported by the company.

Clean Energy and Infrastructure 34.4% Power Delivery 27.1% Communications 20.8% Pipeline Infrastructure 17.7%

Shares of the segments disclosed in this filing, largest first.

Reported figures

Earnings per share
$1.39

What stood out

  • Strong Revenue Growth

    MasTec's revenue increased by $981 million, or 34.5%, from $2.85 billion in Q1 2025 to $3.83 billion in Q1 2026.

  • Significant EPS Beat

    The company reported an EPS of $1.39, exceeding the estimate of $0.97 by 43.3%.

  • Improved Gross Margin

    Gross margin improved to 12.5%, up from 10.9% in the prior year, contributing to better overall profitability.

  • Segment Growth Highlights

    The Clean Energy and Infrastructure segment grew by 45.2%, driving $1.33 billion in revenue.

  • Organic Revenue Growth

    Organic revenue increased by approximately $813 million, or 29%, indicating strong underlying business performance.

  • Operational Cash Flow Increase

    Operating cash flow rose to $99 million in Q1 2026 from $78 million in Q1 2025.

What to watch

  • Geopolitical Tensions Impact

    Ongoing geopolitical tensions, particularly in the Middle East, can cause supply chain disruptions and impact operational costs.

  • Increased Material Costs

    Recent tariff actions could lead to higher costs for construction materials, impacting margins.

  • Labor Cost Inflation

    Inflationary pressures on labor costs may affect profitability and project viability in the near future.

Management's outlook

Anticipates substantial backlog conversion over 2026.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.