MasTec reports Q3 adjusted EPS $1.63, consensus $1.23

Reports Q3 revenue $3.3B, consensus $3.43B. CEO Jose Mas commented, “I am pleased with our margin expansion that exceeded our guidance and which drove excellent bottom line performance. Once again, our record backlog and bookings in multiple segments illustrate the strength of our diversified business model and provide good visibility to the work that will drive MasTec’s (MTZ) performance in 2025 and beyond. I also want to recognize the hard work and dedication of the men and women of MasTec who continue to deliver for our shareholders.” CFO Paul DiMarco noted, “We again significantly exceeded our cash flow targets, generating $278M of cash flow from operations in the quarter and driving net debt leverage down to 2.2x. The macrotrends in our end markets remain favorable and we will prioritize capital allocation to take advantage of opportunities for growth.”