Track market-moving stories before they get noisy

Key Takeaways MasTec sees fiber investment as its top long-term Communications growth driver for a possible 2027 recovery.MasTec is pursuing billions in hyperscaler projects, while Communications backlog rose to ~$5.46B in Q2 2026.Delays and softer wireless spending cut MasTec's 2026 Communications revenue outlook by ~$400M to $3.25B.
MasTec, Inc. (MTZ - Free Report) is positioning its Communications business for a potential recovery in 2027, supported by increasing investments in fiber infrastructure. Despite near-term project delays and softer wireless activity, management identifies fiber expansion as the segment's most significant long-term growth opportunity.

MasTec has been strategically shifting toward wireline infrastructure, reducing its historical dependence on wireless projects. The Communications segment delivered organic growth of more than 30% in 2025, reflecting the benefits of these investments. Increasing demand for high-capacity networks, driven by artificial intelligence (AI), cloud computing and data center interconnections, should further support this transition.

A major opportunity lies in hyperscaler connectivity projects. MasTec continues to secure work in this market and is pursuing billions of dollars in opportunities, including multiple projects exceeding $1 billion. Communications backlog reached approximately $5.46 billion in the second quarter of 2026, up from $5.01 billion a year earlier. Some newly booked work is expected to support revenues in 2027, although larger hyperscaler projects are unlikely to enter construction that year.

However, near-term challenges persist. Earlier-than-expected completion of Rural Digital Opportunity Fund projects, delayed wireline contract starts and deferred wireless spending ahead of new spectrum deployments prompted MasTec to reduce its 2026 Communications revenue outlook by approximately $400 million to $3.25 billion.

Looking ahead, the resumption of delayed projects and renewed customer spending could support a recovery in 2027. However, the timing of project execution and conversion of new opportunities into revenues will determine the pace of improvement.

Industry Peers Capitalize on Hyperscaler Infrastructure DemandMasTec's fiber expansion strategy aims to capitalize on rising hyperscaler connectivity demand and support a Communications recovery in 2027. Infrastructure peers Quanta Services, Inc. (PWR - Free Report) and EMCOR Group, Inc. (EME - Free Report) are similarly benefiting from accelerating data center investments and growing digital infrastructure requirements.

Quanta is expanding its hyperscaler infrastructure capabilities through integrated electrical, mechanical and grid interconnection solutions. Its technology and load center business benefits from increasing data center construction and power connectivity demand. In the second quarter of 2026, backlog reached a record $53 billion. Quanta’s strategic acquisitions, expanded fabrication capabilities and early customer engagement should support further growth opportunities.

EMCOR is capitalizing on strong data center demand within its network and communications market. In the second quarter of 2026, EME’s revenues from this market increased 45% within Electrical Construction and more than doubled within Mechanical Construction. Remaining performance obligations reached a record $17.14 billion, up 44% year over year. Expanding electrical capabilities and strategic acquisitions should support future growth.

Key Takeaways MasTec's Communications unit faces weaker revenue expectations and margin pressure through 2026.Free cash flow remains negative as capital spending outpaces operating cash flow in 2026.Large project opportunities support long-term growth, but many are not expected to contribute until 2027. Shares of MasTec, Inc. (MTZ - Free Report) have lost 34.3% over the past six months compared with the Zacks Building Products - Heavy Construction industry's decline of 19.3%. The stock has also lagged the Zacks Construction sector and the S&P 500 Index, as evidenced by the chart below.

MTZ’s 6-Month Price Performance
Image Source: Zacks Investment Research

This Florida-based infrastructure construction company continues to benefit from strong demand across power infrastructure, pipeline, clean energy and mission-critical projects. Record backlog and solid activity across several businesses support its growth prospects. However, near-term challenges in Communications, project timing and cash generation are weighing on the investment case.

Despite the company’s strong backlog and raised full-year outlook, several near-term factors remain concerns for investors. Lower Communications expectations, delayed project starts, higher project-related costs and weak free cash flow may limit the pace at which earnings growth translates into cash generation. In addition, much of the recent backlog growth is expected to benefit 2027 rather than 2026, while the integration of Superior adds another layer of execution and balance-sheet considerations.

Let us examine the key factors that may weigh on MTZ’s prospects.

Communications Pressure Weighs on Near-Term ResultsMasTec’s Communications business remains the main source of near-term pressure as project timing and higher operating costs weigh on results. In the second quarter of 2026, segment revenues increased 6.2% year over year to $888.9 million. EBITDA declined 11.6% to $73.1 million, while the EBITDA margin contracted 170 basis points (bps) to 8.2%. Execution challenges on certain projects, along with higher indirect fuel and equipment costs, also reduced profit flow-through.

The pressure is expected to persist through the remainder of 2026, with the company lowering its full-year segment revenue outlook to approximately $3.25 billion from approximately $3.65 billion previously. The company also expects the segment EBITDA margin to remain under pressure, with the margin projected in the high single digits, but about 100 bps lower than the prior year. Wireless revenues are expected to decline in the second half as customers wait for new spectrum equipment, while some wireline projects have been delayed. Although the longer-term outlook remains intact, weaker segment results could limit consolidated growth in the near term.

MTZ’s Cash Generation Remains Under PressureCash generation remains a weak spot despite the company’s earnings growth. MasTec reported negative free cash flow of $59 million in the second quarter of 2026, compared with negative $45 million a year ago. For the first six months, free cash flow was negative $47.6 million, while it was roughly break-even in the prior-year period.

The gap between cash generation and investment also remains notable. Operating cash flow was $120.3 million in the first half, while capital expenditures reached $188.3 million. The company expects operating cash flow to exceed $1 billion for 2026, with most of the inflow expected in the fourth quarter. The ability to convert earnings into cash will therefore remain important as MasTec funds its ongoing investments and manages the balance sheet.

MasTec Remains Exposed to Project Timing and Cost RisksMasTec’s results remain sensitive to project timing, customer spending decisions and execution across its infrastructure markets. The Communications business is already seeing wireline project starts pushed back by several months, while the company also expects some moderation in Pipeline project timing and mix during the third quarter of 2026. Higher fuel and equipment costs have added further pressure in Communications.

These timing issues are important because MasTec is pursuing increasingly large and complex projects, many of which take time to move from pursuit to backlog and revenues. The company has seen a meaningful increase in large project pursuits, but some of the opportunities are not expected to contribute materially until 2027 or later. This could create uneven revenue conversion even as long-term demand remains strong.

MTZ’s Earnings Estimates Show Mixed RevisionsMasTec’s earnings estimates for 2026 and 2027 stand at $9.30 and $12.83 per share, respectively. While the 2027 estimate has moved higher over the past 30 days, the 2026 estimate has declined, signaling some near-term pressure on earnings expectations. Even so, the estimates imply strong year-over-year earnings growth of 42% for 2026 and 37.9% for 2027.

MTZ EPS Estimate Revision Trend
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MTZ Stock Trades at a PremiumMasTec stock is currently trading at a premium compared with its industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 19.71, as shown in the chart below.

MTZ Valuation (P/E F12M)
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MasTec & Its Key Infrastructure PeersMasTec competes closely with Quanta Services, Inc. (PWR - Free Report) , EMCOR Group, Inc. (EME - Free Report) and Dycom Industries, Inc. (DY - Free Report) in the infrastructure and engineering construction market.

Quanta operates across utility, technology and load center markets, providing electrical, mechanical, civil and fabrication services. Its broad capabilities and long-standing customer relationships support large and complex infrastructure projects. Quanta also has exposure to technology, power generation and utility markets. However, utility capital spending and the timing of large project awards can affect growth.

Meanwhile, EMCOR has a diversified construction and services platform spanning electrical, mechanical, building and industrial markets. Strong demand from data centers, network and communications, manufacturing and institutional markets supports growth. EMCOR also benefits from its ability to execute complex projects across multiple trades and geographies. However, project mix and timing can affect margins and revenue growth.

Dycom has a more specialized position in digital and critical infrastructure, with exposure to fiber-to-the-home, long-haul fiber, data center interconnects and data center electrical and structured cabling systems. Strong demand across these markets supports growth opportunities, while its record backlog provides visibility into future activity. However, investments to scale its operations and the timing of wireless projects can affect near-term revenues and margins.

How to Play MTZ Stock?Despite MasTec’s strong backlog, solid demand across power infrastructure, clean energy and other key markets, its near-term outlook remains challenging. The raised 2026 guidance and strong earnings growth provide support, but pressure in Communications, delayed project starts, weak free cash flow and uneven revenue conversion remain concerns. The stock’s premium valuation also leaves less room for execution setbacks, while the lower 2026 earnings estimate points to some pressure on near-term expectations.

Thus, MTZ stock’s current risk-reward profile remains challenging, supporting its Zacks Rank #4 (Sell). Investors are currently advised to steer clear of MasTec until the trends move more in favor of the stock.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways MTZ posted record second-quarter revenues of $4.4 billion and an 18-month backlog of $21.4 billion.Clean Energy, Power Delivery & Pipeline Infrastructure all delivered strong year-over-year revenue growth.The Superior Group acquisition expands MTZ's electrical capabilities and exposure to data-center projects. MasTec, Inc. (MTZ - Free Report) is building momentum across several of the infrastructure markets benefiting from rising power demand, AI-driven data-center investment and grid modernization. Management believes the company is in the early stages of a major infrastructure investment cycle, with opportunities spanning electrical infrastructure, power generation, natural gas, industrial construction and connectivity.

The second-quarter results support that outlook. Revenues increased 23% year over year to a record $4.4 billion, while adjusted EBITDA jumped 40% to $384 million. MasTec also ended the quarter with a record 18-month backlog of $21.4 billion, up 30% year over year, providing strong visibility into future activity.

Importantly, growth is broad-based. Clean Energy and Infrastructure revenues surged 43.4%, Power Delivery advanced 19.2% and Pipeline Infrastructure increased 19.1%. Demand remains particularly strong around transmission, grid hardening, renewables, power generation and mission-critical infrastructure.

The acquisition of The Superior Group further expands MasTec’s electrical capabilities and exposure to data centers. Superior’s roughly 3,000 employees and mission-critical expertise should also strengthen MasTec’s ability to offer larger, integrated infrastructure solutions.

MasTec raised its 2026 outlook to $18.2 billion in revenues, $1.6 billion in adjusted EBITDA and adjusted earnings per share (EPS) of $9.30. Still, Communications faces near-term project deferrals and weaker profitability. Overall, record backlog, expanding electrical capabilities and diversified exposure to durable infrastructure trends leave MasTec well positioned to participate meaningfully in the next investment cycle.

Quanta and EMCOR Compete for the Infrastructure Growth OpportunityMasTec faces strong competition from Quanta Services (PWR - Free Report) and EMCOR Group (EME - Free Report) as spending accelerates across power, electrical infrastructure, data centers and other mission-critical markets.

Quanta has broad capabilities in electric transmission, distribution, substations and energy infrastructure, positioning it to benefit from grid modernization, electrification and rising utility capital spending. Quanta also competes for large, complex projects where scale, skilled labor and customer relationships are critical.

EMCOR Group is another important rival, particularly across electrical and mechanical construction tied to data centers, advanced manufacturing and other complex facilities. EMCOR Group’s diversified operations and strong presence in mission-critical construction give it exposure to many of the same structural demand drivers supporting MasTec. As infrastructure spending expands, EMCOR Group could capture significant project opportunities alongside MasTec.

Both Quanta and EMCOR Group therefore intensify competition for labor, project awards and customer relationships, potentially affecting bidding conditions and margins.

MTZ Stock’s Price Performance & Valuation TrendShares of this Florida-based infrastructure construction company have plunged 3.3% year to date (YTD), underperforming the Zacks Building Products - Heavy Construction industry, the broader Zacks Construction sector and the S&P 500 index.

MTZ Price Performance (YTD)

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MTZ stock is currently trading at a premium compared with its industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 17.58, as shown in the chart below.

MTZ Valuation (P/E F12M)

Image Source: Zacks Investment Research

EPS Trend of MTZMTZ’s earnings estimates for 2026 have trended upward over the past 60 days to $9.30 per share, while the same for 2027 dropped to $12.83 over the same time frame. The estimated figures for 2026 and 2027 imply 42% and 37.9% year-over-year growth, respectively.
 

Image Source: Zacks Investment Research

Key Takeaways MasTec's second-quarter 2026 revenues rose 23% to $4.4B, while adjusted EPS surged 49% to $2.22.MasTec's backlog reached $21.4B, up nearly $5B year over year, driven by infrastructure demand.MTZ raised 2026 guidance to $18.2B in revenues, $1.6B adjusted EBITDA and $9.30 in EPS. MasTec, Inc. (MTZ - Free Report) is increasingly positioning itself at the intersection of Artificial Intelligence and America’s infrastructure buildout, creating a potentially powerful growth opportunity. The company’s second-quarter 2026 results highlight how demand tied to data centers, power generation and digital connectivity is strengthening its outlook.

MasTec reported record second-quarter 2026 revenues of $4.4 billion, up 23% year over year, while adjusted EBITDA jumped 40% to $384.2 million. Adjusted earnings per share (EPS) surged 49% to $2.22. More importantly, 18-month backlog reached a record $21.4 billion, up nearly $5 billion year over year and $1.1 billion sequentially. The Clean Energy & Infrastructure segment emerged as a key growth engine, with revenues soaring 43.4% and EBITDA climbing 53.9%. Its backlog increased 58% year over year, supported by renewable energy, power generation, water infrastructure and turnkey data center opportunities. Meanwhile, Power Delivery benefited from utility investments in transmission, grid reliability and infrastructure required to support data-center demand.

MasTec’s Pipeline Infrastructure business also gained momentum, with EBITDA nearly doubling and margins expanding 690 basis points to 18.4%. The company noted that mission-critical power generation is driving its pipeline opportunities, adding another avenue for AI-related infrastructure spending. The July acquisition of Superior further strengthens the thesis. The deal adds roughly 3,000 employees and expands MasTec’s capabilities in electrical contracting and data center infrastructure.

Management raised its 2026 outlook to $18.2 billion in revenues, $1.6 billion in adjusted EBITDA and $9.30 in adjusted EPS. With substantial backlog expected to contribute beyond 2026, MasTec appears increasingly equipped to capitalize on the long-term AI infrastructure cycle.

AI Infrastructure Faceoff: Can MasTec Beat EMCOR & Dycom?MasTec is well-positioned to benefit from the accelerating buildout of AI-powered infrastructure, alongside notable peers like EMCOR Group, Inc. (EME - Free Report) and Dycom Industries, Inc. (DY - Free Report) , but their exposure differs.

MTZ offers the broadest play, with a record $21.4 billion backlog and strong demand across power delivery, clean energy, data centers and pipeline infrastructure. Its Superior acquisition further expands electrical and data-center capabilities.

Meanwhile, EMCOR stands to benefit from rising demand for mission-critical electrical, mechanical and building systems as data centers require massive power and cooling investments. Dycom provides a more focused digital-infrastructure angle, benefiting from fiber deployments, data-center connectivity and electrical infrastructure. Its backlog and long-term customer relationships provide strong visibility, while acquisitions are expanding its data-center capabilities.

Overall, MasTec appears better diversified, EMCOR offers deep mission-critical expertise, while Dycom provides stronger exposure to AI-driven connectivity.

MTZ Stock’s Price Performance & Valuation TrendShares of this Florida-based infrastructure construction company have inched up 9.4% year to date, outperforming the Zacks Building Products - Heavy Construction industry and the broader Zacks Construction sector, but underperforming the S&P 500 index.

Image Source: Zacks Investment Research

MTZ stock is currently trading at a premium compared with its industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 20.44, as shown in the chart below.

Image Source: Zacks Investment Research

EPS Trend of MasTecMTZ’s earnings estimates for 2026 and 2027 have trended down over the past 30 days to $9.31 per share and $12.77 per share, respectively. However, the estimated figures for 2026 and 2027 imply 42.1% and 37.2% year-over-year growth, respectively.

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MasTec stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways Quanta's $53.4B backlog and strong cash generation support its near-term infrastructure outlook.MasTec trades at a lower forward P/E, making valuation its strongest advantage versus Quanta.Quanta's EPS estimates rose sharply, while its grid and large-load exposure strengthens its setup. MasTec, Inc. (MTZ - Free Report) and Quanta Services, Inc. (PWR - Free Report) are two major beneficiaries of North America’s infrastructure investment cycle. MasTec provides engineering and construction services across communications, power delivery, pipelines, clean energy and industrial infrastructure, while Quanta specializes in electric power, utility, renewable energy, communications and other critical infrastructure solutions. MasTec’s business spans transmission, grid modernization, renewables, pipelines and data centers.

The companies increasingly compete for opportunities created by grid modernization, rising electricity demand, AI-driven data centers and large-scale power infrastructure investment. Both recently strengthened their capabilities through acquisitions, making the comparison particularly relevant as infrastructure spending accelerates.

Let's dive deep and closely compare the fundamentals of the two stocks to determine which one is a better investment now.

The Case for MasTec StockMasTec enters the second half of 2026 with strong operating momentum. Second-quarter revenues increased 23.4% year over year, while adjusted EBITDA rose 39.8% and adjusted earnings per share (EPS) advanced 48.8%. Its 18-month backlog reached a record $21.4 billion, up 30%, providing solid visibility into future activity.

Growth is broad-based. Clean Energy and Infrastructure revenues surged 43.4%, Power Delivery revenues rose 19.2% and Pipeline Infrastructure revenues increased 19.1%. Pipeline profitability was particularly strong, while Power Delivery is benefiting from utility spending on transmission, grid hardening and reliability. Management sees mission-critical development creating additional requirements for transmission lines, substations and system upgrades.

The acquisition of The Superior Group adds another compelling growth lever. Superior strengthens MasTec’s electrical capabilities and exposure to data center infrastructure, while creating opportunities to combine electrical services with MasTec’s civil, power and communications capabilities. Management believes the combination expands its addressable market and positions MasTec for infrastructure investment driven by AI, electrification and digital infrastructure.

MasTec consequently increased its 2026 adjusted EPS guidance to $9.30, implying 42% year-over-year growth.

However, Communications remains a near-term concern. Lower second-half wireless activity and wireline project deferrals are creating pressure, although management remains positive about longer-term fiber and hyperscaler connectivity opportunities. Superior also increases acquisition-integration and leverage considerations after MasTec funded much of the roughly $1.6-billion purchase with cash and borrowings.

The Case for Quanta StockQuanta is operating from an even stronger position. Second-quarter revenues reached $9.56 billion, rising 41.1% year over year, including 27.4% organic growth. Adjusted EPS increased 71% and adjusted EBITDA climbed 59.5%, while free cash flow reached $886 million.

The company’s record $53.4-billion backlog underscores exceptional demand visibility. Quanta is benefiting from the convergence of grid modernization, power generation and large-load infrastructure. Electric-grid spending is being supported by load growth, interconnections, substations and increasingly visible high-voltage transmission projects. Meanwhile, large multi-year data center programs are substantially expanding its addressable market.

Quanta has also strengthened its self-perform model through acquisitions including Phalcon, Enerfab, Percheron and PSD, expanding electrical, mechanical, fabrication and front-end capabilities. Management sharply raised 2026 expectations, forecasting revenues of $39.3-$39.7 billion and adjusted EPS of $16.45-$16.95. Free cash flow is expected to be in the range of $2-$2.5 billion.

Risks remain. Project timing can be affected by permitting, weather, regulation, supply-chain constraints and trade policy. Acquisitions also add integration risk. Nevertheless, Quanta’s scale, craft-skilled workforce, self-perform capabilities and diversified exposure give it considerable flexibility to allocate resources toward the strongest infrastructure markets.

Market Momentum Clearly Favors QuantaQuanta has been the stronger stock in 2026. PWR has surged 56.9% YTD compared with MasTec’s 25% gain. Both have comfortably outperformed the Zacks Construction sector’s 8.8% rise and the S&P 500’s 12.2% advance.

MTZ vs PWR Price Performance (YTD)

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The performance also highlights strong investor enthusiasm for infrastructure contractors benefiting from electrification and data centers, including EMCOR Group (EME - Free Report) and Sterling Infrastructure (STRL - Free Report) . Between MTZ and PWR, however, Quanta’s substantially stronger YTD appreciation reflects greater confidence in its earnings momentum and infrastructure exposure.

MasTec Holds the Valuation AdvantageMasTec offers the more attractive valuation. MTZ trades at 23.74X forward 12-month earnings, well below Quanta’s 37.35X. Both command premiums to the Zacks Construction sector’s 19.99X multiple.

MTZ vs PWR Valuation (P/E F12M)

Image Source: Zacks Investment Research

The comparison with infrastructure peers such as EMCOR and Sterling reinforces the importance of balancing structural growth prospects against valuation. Quanta’s premium reflects its scale, execution, cash generation and strong positioning across grid and large-load markets. Yet MTZ provides exposure to many of the same secular themes at a considerably lower earnings multiple. Therefore, valuation is clearly MasTec’s strongest relative advantage.

Estimate Revisions Tilt Toward Quanta StockMasTec’s estimate trend is mixed. Over the past 30 days, the Zacks Consensus Estimate for 2026 EPS increased from $9.19 to $9.31, while the 2027 estimate declined from $12.91 to $12.77. The consensus mark implies 42.1% EPS growth and 27.1% revenue growth in 2026, followed by 37.2% EPS growth and 17.4% revenue growth in 2027.

MTZ EPS Estimate Revision Trend

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Quanta has stronger estimate momentum. Its 2026 consensus estimate for EPS climbed from $14.01 to $16.37, while the 2027 estimate increased from $16.43 to $18.96. The consensus estimate projects 52.3% EPS growth and 38.4% revenue growth in 2026, followed by 15.8% EPS growth and 14.9% revenue growth in 2027.

PWR EPS Estimate Revision Trend

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Which Stock Emerges as the Better Pick?MasTec offers the cheaper valuation and substantial upside from Superior, data centers, power delivery and its record backlog. Its stronger projected 2027 EPS growth also suggests meaningful room for continued earnings expansion.

However, Quanta currently holds the edge. Its larger backlog, stronger cash generation, broader exposure to electric-grid and large-load investment, superior YTD stock performance and sharply positive EPS estimate revisions provide a stronger near-term investment setup. Quanta’s premium valuation is the principal drawback, but its execution and earnings visibility help support that premium.

With MasTec carrying a Zacks Rank #3 (Hold) and Quanta sporting a Zacks Rank #1 (Strong Buy), Quanta appears to offer the better upside potential at present, while MasTec remains an attractive infrastructure name to watch given its lower valuation and strengthening data center exposure. You can see the complete list of today’s Zacks #1 Rank stocks here.

Key Takeaways MasTec's backlog reached a record $21.4B, up 30% year over year at Q2 2026-end.Power Delivery, Clean Energy & Infrastructure and Pipeline are adding depth to backlog.Most of the $2.5B first-half backlog increase is expected to benefit 2027 revenues. MasTec, Inc. (MTZ - Free Report) has expanded its contracted work across power delivery, clean energy, pipeline and mission-critical infrastructure. Demand for grid modernization, power generation, renewables and natural gas infrastructure is supporting new project awards. The broader mix also gives the company multiple avenues to convert infrastructure spending into revenues.

Backlog reached a record $21.4 billion at the end of the second quarter of 2026, up 30% year over year and about 5% sequentially. The company also posted a 1.2x book-to-bill ratio. During the first half, backlog increased nearly $2.5 billion. Only a modest portion of this increase is expected to contribute to 2026 revenues, with the majority expected to benefit 2027.

Power Delivery, Clean Energy & Infrastructure and Pipeline are adding depth to the backlog. Power Delivery backlog reached approximately $6.3 billion, while Clean Energy & Infrastructure backlog rose to $7.8 billion. Pipeline backlog increased 35% sequentially to about $1.8 billion, with a 1.7x book-to-bill ratio. Power Delivery is benefiting from grid modernization and data center power demand, while renewables and natural gas infrastructure are supporting the other two segments.

Reported backlog also does not capture the full level of activity in some businesses. MasTec indicated that Pipeline has strong visibility beyond its reported backlog, while large project pursuits could add further awards. The company expects Power Delivery, Clean Energy & Infrastructure and Pipeline to drive additional backlog growth through year-end. This combination of contracted work and active project opportunities gives MasTec a broad base for revenue conversion as projects move into execution.

How MasTec Compares With Infrastructure Construction LeadersMasTec competes closely with EMCOR Group, Inc. (EME - Free Report) and Quanta Services, Inc. (PWR - Free Report) across electrical, mechanical and infrastructure construction. All three companies maintain sizable order books, providing revenue visibility and reflecting demand across power, data center and broader infrastructure markets.

EMCOR has built strong revenue visibility through record Remaining Performance Obligations, or RPOs. RPOs reached $17.14 billion at the end of the second quarter, up 44% year over year and 10% sequentially. About 95% of the increase was organic. Network and communications, led by data center activity, remained a major source of demand. Strong bookings in water and wastewater, health care and institutional markets also broadened the RPO base.

Quanta reported a record backlog of approximately $53.4 billion in the second quarter, up about 49% year over year from $35.8 billion. The order book reflects demand across utility, generation and technology load center markets. Larger programs and multiyear commitments are also developing across these markets, which could support revenues over an extended period. Recent acquisitions have added capabilities across electrical, mechanical, civil and fabrication services, further broadening the addressable market.

Both EMCOR and Quanta offer strong revenue visibility through sizable order books, while MasTec adds exposure across power delivery, pipeline, clean energy and mission-critical infrastructure. The comparison also shows different sources of backlog strength, with EMCOR benefiting from data center-led RPO growth, Quanta from large utility and technology load center programs and MasTec from a broader mix of infrastructure markets.

MTZ Stock’s Price Performance & Valuation TrendShares of this Florida-based infrastructure construction company have gained 31.6% year to date, outperforming the Zacks Building Products - Heavy Construction industry, the broader Zacks Construction sector and the S&P 500 Index.

MTZ Price Performance (YTD)
Image Source: Zacks Investment Research

MTZ stock is currently trading at a premium compared with its industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 25.13, as shown in the chart below.

Image Source: Zacks Investment Research

EPS Trend of MTZMTZ's earnings estimates for 2026 have moved upward in the past 30 days to $9.31, but the same for 2027 moved down to $12.67 per share. The revised estimates for 2026 and 2027 imply a year-over-year surge of 42.1% and 36.1%, respectively.

Image Source: Zacks Investment Research

MasTec currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways MTZ posted record Q2 revenues of $4.37B, while adjusted EBITDA rose 40% and adjusted EPS climbed 49%.MasTec raised 2026 guidance to $18.2B in revenues, $1.6B in adjusted EBITDA and $9.30 in adjusted EPS.MTZ's $21.4B backlog and strength in power, clean energy and pipelines offset Communications softness. MasTec, Inc. (MTZ - Free Report) delivered another strong quarter, reinforcing management's confidence to raise its full-year 2026 outlook. The key question now is whether second-quarter execution provides enough evidence to support those higher expectations.

The results were impressive. Second-quarter revenues climbed 23% year over year to a record $4.37 billion, while adjusted EBITDA increased 40% to $384 million and adjusted earnings per share rose 49% to $2.22. Just as importantly, 18-month backlog reached a record $21.4 billion, up 30% from a year ago, providing strong revenue visibility heading into the second half of 2026.

Management responded by raising full-year guidance. MasTec now expects 2026 revenues of $18.2 billion, adjusted EBITDA of $1.6 billion and adjusted EPS of $9.30, representing year-over-year growth of 27%, 39% and 42%, respectively. The upgraded outlook reflects continued strength in Power Delivery, Clean Energy & Infrastructure and Pipeline Infrastructure, which more than offsets near-term softness in the Communications business.

The acquisition of The Superior Group further strengthens the growth case by expanding MasTec's capabilities in mission-critical electrical infrastructure and data centers. Management also highlighted accelerating demand tied to AI, grid modernization, power generation and digital infrastructure, with much of the recently added backlog expected to contribute more meaningfully in 2027 and beyond.

While Communications faces temporary wireless and wireline project delays, MasTec's diversified business mix and record backlog suggest that the raised 2026 outlook is supported by broad-based operating momentum rather than a single growth driver.

How MasTec Compares With Infrastructure Construction LeadersAmong infrastructure contractors, Quanta Services (PWR - Free Report) and Sterling Infrastructure (STRL - Free Report) are two of the closest peers when evaluating whether MasTec's raised 2026 outlook is achievable.

Like MasTec, Quanta is benefiting from accelerating utility investment, grid modernization and data center-related power demand. However, MasTec's broader exposure to clean energy, pipeline infrastructure and communications provides additional diversification, while the Superior acquisition strengthens its position in mission-critical electrical infrastructure. Quanta remains a formidable competitor in transmission and distribution, but MasTec is expanding into similar high-growth opportunities.

Sterling is another beneficiary of AI-driven infrastructure spending, particularly through mission-critical site development for data centers and advanced manufacturing. While Sterling has delivered exceptional execution in its niche, its business remains more concentrated than MasTec's. MasTec's record backlog, diversified end markets and raised guidance suggest a broader earnings foundation. Both Quanta and Sterling are well positioned, but MasTec's multi-segment platform offers greater resilience across infrastructure investment cycles.

MTZ Stock’s Price Performance & Valuation TrendShares of this Florida-based infrastructure construction company have gained 19% year to date, outperforming the Zacks Building Products - Heavy Construction industry, the broader Zacks Construction sector and the S&P 500 Index.

MTZ Price Performance (YTD)

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MTZ stock is currently trading at a discount compared with its industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 20.59, as shown in the chart below.

Image Source: Zacks Investment Research

EPS Trend of MTZFor 2026 and 2027, MTZ’s earnings estimates have trended upward in the past 30 days, as shown below. The revised estimated figures for 2026 and 2027 imply 42.1% and 36.1% year-over-year growth, respectively.

Image Source: Zacks Investment Research

MasTec currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

MasTec (MTZ - Free Report) came out with quarterly earnings of $2.22 per share, beating the Zacks Consensus Estimate of $2.19 per share. This compares to earnings of $1.49 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +1.37%. A quarter ago, it was expected that this utility contractor would post earnings of $0.98 per share when it actually produced earnings of $1.39, delivering a surprise of +41.84%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

MasTec, which belongs to the Zacks Building Products - Heavy Construction industry, posted revenues of $4.37 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.81%. This compares to year-ago revenues of $3.54 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

MasTec shares have added about 32.2% since the beginning of the year versus the S&P 500's gain of 6.9%.

What's Next for MasTec?While MasTec has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for MasTec was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $3.15 on $5.09 billion in revenues for the coming quarter and $9.58 on $18.44 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Heavy Construction is currently in the top 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Tutor Perini (TPC - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.

This construction company is expected to post quarterly earnings of $1.36 per share in its upcoming report, which represents a year-over-year change of -3.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Tutor Perini's revenues are expected to be $1.56 billion, up 13.7% from the year-ago quarter.

CORAL GABLES, Fla.--(BUSINESS WIRE)--MasTec, Inc. (NYSE: MTZ) today announced that it has closed its previously announced acquisition of Electrical Specialists, Inc., d/b/a The Superior Group (“Superior”), a premier full-service electrical contractor focused on critical infrastructure, in a cash and stock transaction valued at approximately $1.65 billion, subject to customary purchase price adjustments and a potential cash earnout payment based on Superior’s post-closing performance (the “Transaction”). The cash portion of the purchase price was funded with cash on hand, drawings under MasTec’s existing credit facility and drawings under two previously disclosed delayed draw term loan facilities entered into in connection with the Transaction.

Jose Mas, MasTec's Chief Executive Officer, commented, “We are pleased to officially welcome Bryan Stewart and the approximately 3,000 Superior team members to the MasTec family. We believe that the addition of Superior and its experienced leadership team, coupled with MasTec's existing operations, positions MasTec to serve the compelling and ongoing buildout of data center, power and mission-critical infrastructure, both outside and inside the fence.”

Mr. Mas continued, “This acquisition further advances MasTec’s strategy of building a scaled infrastructure capacity platform that is positioned to serve accelerating demand for data center, power and other mission-critical infrastructure through a transaction that demonstrates our commitment to disciplined capital allocation.”

About MasTec

MasTec, Inc. is a leading North American infrastructure engineering and construction company focused primarily on engineering, building, installation, maintenance and upgrade of communications, energy and utility and other infrastructure. MasTec primarily operates under four business segments including Communications, serving both wireless and wireline/fiber infrastructure; Power Delivery, serving primarily utility customers in transmission and distribution markets; Pipeline Infrastructure serving energy and other customers with installation and maintenance services primarily for natural gas pipeline and distribution infrastructure; and Clean Energy and Infrastructure, providing renewable energy engineering and construction services, as well as for heavy civil and other industrial infrastructure markets. Learn more at www.mastec.com.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Forward-looking statements include, but are not limited to, statements relating to expectations regarding the future financial and operational performance of MasTec or Superior; expectations regarding the projected impact and benefits of Superior on MasTec's operating or financial results; expectations regarding MasTec's or Superior’s business or financial outlook; expectations regarding MasTec's plans, strategies and opportunities; expectations regarding opportunities, technological developments, competitive positioning, future economic conditions and other trends in particular markets or industries; the potential strategic benefits and synergies expected from the acquisition of Superior; MasTec's ability to successfully integrate the operations of Superior; the impact of inflation on MasTec's costs and the ability to recover increased costs, as well as other statements reflecting expectations, intentions, assumptions or beliefs about future events and other statements that do not relate strictly to historical or current facts. These statements are based on currently available operating, financial, economic and other information, and are subject to a number of significant risks and uncertainties. A variety of factors in addition to those mentioned above, many of which are beyond our control, could cause actual future results to differ materially from those projected in the forward-looking statements. Other factors that might cause such a difference include, but are not limited to: our ability to manage projects effectively and in accordance with our estimates, as well as our ability to accurately estimate the costs associated with our fixed price and other contracts, including any material changes in estimates for completion of projects and estimates of the recoverability of change orders; market conditions, including rising or elevated levels of inflation or interest rates, regulatory or policy changes, including permitting processes, tax incentives and government funding programs that affect us or our customers' industries, access to capital, material and labor costs, supply chain issues and technological developments, all of which may affect demand for our services; changes to governmental programs and spending policies, changes to the amounts provided for under the Infrastructure Investment and Jobs Act and/or Inflation Reduction Act, including the potential for reduced support for renewable energy projects, such as a result of the One Big Beautiful Bill Act, or changes in U.S. or foreign tax laws, statutes, rules, regulations or ordinances; tariff and trade actions, including retaliatory trade actions, by the United States (U.S.) and/or other countries on U.S. exports or bans by foreign countries on certain of their exports; project delays due to permitting processes, compliance with environmental and other regulatory requirements and challenges to the granting of project permits, which could cause increased costs and delayed or reduced revenue; the effect on demand for our services of changes in the amount of capital expenditures by our customers due to, among other things, economic conditions, including potential economic downturns, inflationary issues, tariff effects, the availability and cost of financing, supply chain disruptions, climate-related matters, customer consolidation in the industries we serve and/or the effects of public health matters; activity in the industries we serve and the impact on the expenditure levels of our customers of, among other items, fluctuations in commodity prices, including for fuel and energy sources, fluctuations in the cost of materials, labor, supplies or equipment, and/or supply-related issues that affect availability or cause delays for such items; the outcome of our plans for future operations, growth and services, including business development efforts, backlog, acquisitions and dispositions; risks related to completed or potential acquisitions, including our ability to integrate acquired businesses within expected timeframes, including their business operations, internal controls and/or systems, which may be found to have material weaknesses, and our ability to achieve the revenue, cost savings and earnings levels from such acquisitions at or above the levels projected, as well as the risk of potential asset impairment charges and write-downs of goodwill; our ability to attract and retain qualified personnel, key management and skilled employees, including from acquired businesses, our ability to enforce any noncompetition agreements, and our ability to maintain a workforce based upon current and anticipated workloads; any material changes in estimates for legal costs or case settlements or adverse determinations on any claim, lawsuit or proceeding; the adequacy of our insurance, legal and other reserves; adverse climate and weather events, such as the risk of wildfires, that increase operational and legal risks in certain locations where we perform services, could increase the potential liability and related costs associated with such operations; the highly competitive nature of our industry and the ability of our customers, including our largest customers, to terminate or reduce the amount of work, or in some cases, the prices paid for services, on short or no notice under our contracts, and/or customer disputes related to our performance of services and the resolution of unapproved change orders; the effect of regulatory initiatives, including risks related to and the costs of compliance with existing and potential future sustainability requirements, including with respect to climate-related matters; the timing and extent of fluctuations in operational, geographic and weather factors, including from climate-related events, that affect our customers, projects and the industries in which we operate; requirements of and restrictions imposed by our credit facility, term loans, senior notes and any future loans or securities; systems and information technology interruptions and/or data security breaches that could adversely affect our ability to operate, our operating results, our data security or our reputation, or other cybersecurity-related matters; our dependence on a limited number of customers and our ability to replace non-recurring projects with new projects; risks associated with potential environmental issues and other hazards from our operations; disputes with, or failures of, our subcontractors to deliver agreed-upon supplies or services in a timely fashion, and the risk of being required to pay our subcontractors even if our customers do not pay us; risks related to our strategic arrangements, including our equity investments; risks associated with volatility of our stock price or any dilution or stock price volatility that shareholders may experience, including as a result of shares we may issue as purchase consideration in connection with acquisitions, or as a result of other stock issuances; our ability to obtain performance and surety bonds; risks associated with operating in or expanding into additional international markets, including risks from increased tariffs, fluctuations in foreign currencies, foreign labor and general business conditions and risks from failure to comply with laws applicable to our foreign activities and/or governmental policy uncertainty; risks related to our operations that employ a unionized workforce, including labor availability, productivity and relations, as well as risks associated with multiemployer union pension plans, including underfunding and withdrawal liabilities; risks associated with our internal controls over financial reporting; risks related to a small number of our existing shareholders having the ability to influence major corporate decisions, as well as other risks detailed in our filings with the Securities and Exchange Commission. We believe these forward-looking statements are reasonable; however, you should not place undue reliance on any forward-looking statements, which are based on current expectations. Furthermore, forward-looking statements speak only as of the date they are made. If any of these risks or uncertainties materialize, or if any of our underlying assumptions are incorrect, our actual results may differ significantly from the results that we express in, or imply by, any of our forward-looking statements. These and other risks are detailed in our filings with the Securities and Exchange Commission. We do not undertake any obligation to publicly update or revise these forward-looking statements after the date of this press release to reflect future events or circumstances, except as required by applicable law. We qualify any and all of our forward-looking statements by these cautionary factors.

More News From MasTec, Inc.

Dollar bills are seen in a currency-counting machine at a currency exchange, in Tehran, Iran, October 5, 2025. Majid Asgaripour/WANA (West Asia News Agency) via REUTERS ATTENTION EDITORS -... Purchase Licensing Rights, opens new tab Read more

CompaniesJuly 7 (Reuters) - Infrastructure engineering ​and construction firm MasTec (MTZ.N), opens new tab said ‌on Tuesday it would acquire electrical contractor Superior Group ​in a $1.65 billion cash-and-stock deal, as ​it seeks to expand its ⁠data center infrastructure offerings.

MasTec, ​which primarily caters to data ​centers' power generation and energy transmission needs, will now be ​able to supply the ​electrical systems for data centers, through ‌the ⁠Superior Group deal, it said.

Jumpstart your morning with the latest legal news delivered straight to your inbox from The Daily Docket newsletter. Sign up here.

Companies across sectors have been racing to boost ​their ​offerings amid ⁠a global buildout of data centers ​to fuel growing ​demand ⁠for AI services.

MasTec said it expects to close the ⁠deal ​by mid- ​to late-July.

Reporting by Nandan Mandayam in ​Bengaluru; Editing by Maju Samuel

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Image: Bigstock

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AI infrastructure and data center investments remain key growth drivers for the Zacks Building Products – Heavy Construction industry in 2026, supported by rising demand for cloud computing, AI workloads, fiber connectivity and utility upgrades. Strong federal and state funding for transportation, water and energy infrastructure, along with investments in grid modernization, power transmission, natural gas and industrial projects, is further expanding the industry's multiyear project pipeline and improving revenue visibility. Within this favorable backdrop, companies such as EMCOR Group, Inc. (EME - Free Report) , MasTec (MTZ - Free Report) , Dycom Industries (DY - Free Report) and Tutor Perini Corporation (TPC - Free Report) are well positioned, benefiting from diversified capabilities, technical expertise and disciplined execution.

However, persistent skilled labor shortages continue to constrain project execution, increase wage costs and intensify competition for qualified workers. At the same time, larger and more complex projects, inflationary pressures, evolving project scopes, permitting delays and funding uncertainties are placing greater pressure on margins, making disciplined bidding, cost control and execution increasingly important for sustaining profitability.

Industry Description The Zacks Building Products - Heavy Construction industry consists of mechanical and electrical construction, industrial and energy infrastructure, as well as building service providers. This industry comprises heavy civil construction companies that specialize in the building and reconstruction of transportation projects, including highways, roads, bridges, airfields, ports and light rail. The companies serve commercial, industrial, utility and institutional clients. The industry players are engaged in the engineering, construction and maintenance of communications infrastructure, oil and natural gas pipelines, as well as processing facilities for energy and utility industries. These firms are also engaged in mining and dredging services in the United States and internationally.

4 Trends Shaping the Future of the Heavy Construction Industry AI Infrastructure & Data Center Demand Drive Growth: AI infrastructure remains one of the strongest tailwinds for the U.S. Heavy Construction industry in 2026. Rapid growth in cloud computing, AI workloads and digital transformation is fueling demand for data centers, which require large-scale site work, electrical systems, mechanical systems, cooling infrastructure, fiber connectivity and utility upgrades. These projects are also expanding opportunities across adjacent areas such as grid connections, substations, concrete work and long-haul fiber networks. Rising demand for low-latency connectivity between data centers is further supporting telecom and fiber construction. Given the multiyear nature of these investments, contractors with scale, skilled labor and complex project execution capabilities are likely to benefit from strong backlog visibility and sustained bidding activity.

Infrastructure, Power & Energy Spending Stay Strong: Public infrastructure and energy-related construction remain major growth drivers for 2026. Federal and state spending continues to support highways, bridges, transit systems, airports, ports, water and wastewater projects. At the same time, rising electricity demand is driving investment in transmission lines, substations, grid hardening and reliability upgrades. Energy security needs are also supporting natural gas, LNG, power generation and industrial infrastructure projects. These trends are creating a broad-based construction pipeline beyond data centers. Large public and energy projects typically span several years, giving the industry better revenue visibility. The combination of aging infrastructure, electrification, industrial reshoring and energy demand should keep project activity elevated through 2026.

Labor Shortages Remain a Key Constraint: Skilled labor availability remains one of the biggest headwinds for the U.S. heavy construction industry in 2026. Demand is rising across data centers, utilities, transportation, energy and public infrastructure at the same time, increasing competition for qualified workers. Large, complex projects require experienced electricians, mechanical workers, civil crews, project managers and safety professionals. A tight labor market can limit how quickly contractors scale, delay project schedules and raise wage costs. Companies are investing more in training, recruitment and workforce development, but labor supply remains a structural issue. This is especially important as customers seek execution certainty on multiyear projects and may prefer contractors that can reliably secure skilled crews.

Project Complexity, Costs & Timing Pressure Margins: Despite strong demand, margin pressure remains a key industry headwind. Heavy construction projects are becoming larger and more complex, especially in AI infrastructure, power, transit and public works. These projects often involve evolving designs, changing scopes, tight schedules and coordination across several trades. Contract mix can also affect profitability, as cost-plus, construction management and early-stage design projects may carry lower margins than traditional fixed-price work. Inflation in materials, equipment and subcontractor costs further increases the need for disciplined bidding and contract management. Permitting delays, funding approvals and customer timing decisions can also shift revenue recognition. As a result, execution discipline remains critical to converting strong demand into profitable growth.

Zacks Industry Rank Indicates Bright Prospects The Zacks Building Products - Heavy Construction industry is a nine-stock group within the broader Zacks Construction sector. The industry currently carries a Zacks Industry Rank #38, which places it in the top 15% of more than 250 Zacks industries.

The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bullish near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

The industry’s positioning in the top 50% of the Zacks-ranked industries is a result of a higher earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are gradually gaining confidence in this group’s earnings growth potential. Since April 2026, the industry’s earnings estimates for 2027 have increased to $11.26 per share from $11.06.

Before highlighting a few stocks worth considering for your portfolio, let’s first review the industry’s recent stock market performance and valuation trends.

Industry Outperforms Sector & the S&P 500 The Zacks Building Products - Heavy Construction industry has performed better than the broader Zacks Construction sector and the Zacks S&P 500 Composite over the past year.

Stocks in this industry have collectively gained 79% compared with the broader sector’s 22.8% rise. Meanwhile, the S&P 500 has jumped 22.9% in the said period.

One-Year Price Performance

Industry's Current Valuation On the basis of the forward 12-month price-to-earnings ratio, which is a commonly used multiple for valuing heavy construction stocks, the industry is currently trading at 27.74X versus the S&P 500’s 21.13X and the sector’s 22.34X.

Over the past five years, the industry has traded as high as 28.44X, as low as 12.90X and at a median of 17.61X, as the chart below shows.

Industry’s P/E Ratio (Forward 12-Month) Versus S&P 500

Industry’s P/E Ratio (Forward 12-Month) Versus Sector

4 Heavy Construction Stocks to Buy Now Here, we have discussed four stocks from the industry that have solid growth potential.

MasTec: Based in Coral Gables, FL, this is a leading infrastructure construction company operating mainly throughout North America. MasTec's growth outlook is supported by strong, long-duration infrastructure investment across multiple end markets. The company expects sustained demand from AI-driven data center construction and connectivity, electric grid modernization, power transmission, broadband expansion under the BEAD program, renewable energy, gas-fired power generation and natural gas pipeline infrastructure. Record backlog, improving book-to-bill ratios and growing customer preference for turnkey project execution provide strong revenue visibility. Management also highlighted increasing opportunities in data center construction management, strategic acquisitions and expanding self-perform capabilities, positioning MasTec for sustained growth through 2026, 2027 and beyond.

MasTec, currently carrying a Zacks Rank #1 (Strong Buy), has gained 130.7% over the past year. Earnings estimates for 2026 have increased to $8.90 from $8.60 per share over the past 60 days. Earnings for 2026 are expected to grow 35.9% from a year ago. MTZ surpassed earnings estimates in all the trailing four quarters, with the average surprise being 15.4%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Price and Consensus: MTZ

Dycom: Headquartered in Palm Beach Gardens, FL, this is a specialty contracting firm operating in the telecom industry. Dycom's growth outlook remains strong, supported by accelerating investments in digital infrastructure and fiber connectivity. The company continues to benefit from expanding fiber-to-the-home deployments, rising long-haul and middle-mile fiber builds, and robust data center construction driven by hyperscale demand. Management highlighted record backlog growth, longer-duration customer contracts that improve revenue visibility and geographic expansion across communications markets. The acquisition of National Technology Integrators further strengthens Dycom's data center and low-voltage capabilities while creating cross-selling opportunities. Additionally, the gradual rollout of the BEAD broadband program is expected to provide incremental growth from calendar 2027 onward, reinforcing the company's multiyear growth trajectory.

Dycom, currently carrying a Zacks Rank #1, has gained 90.4% over the past year. Earnings estimates for fiscal 2027 have increased to $16.35 per share from $15.94 per share over the past 30 days. The estimated value for fiscal 2027 is expected to increase 36.6% from the previous year. DY surpassed earnings estimates in all the trailing four quarters, with the average surprise being 25%. Again, it carries an impressive VGM Score of B.

Price and Consensus: DY

EMCOR: Based in Norwalk, CT, EMCOR provides electrical and mechanical construction and related services in the United States and the United Kingdom. EMCOR has been gaining from sustained demand across mission-critical infrastructure markets and a record remaining performance obligation backlog that provides solid revenue visibility. The company continues to benefit from robust investments in AI-driven data centers, cloud infrastructure, healthcare, institutional facilities, water and wastewater projects, manufacturing and industrial construction, as well as the recovery in warehousing and logistics. Management also expects long-term growth from geographic expansion, disciplined acquisitions, expanded prefabrication capabilities, workforce development and increasing higher-margin service and maintenance work, while maintaining disciplined project execution and contract management.

EMCOR, currently carrying a Zacks Rank #1, has gained 48.5% over the past year. Earnings estimates for 2026 have increased to $29.37 per share from $28.99 per share over the past 30 days. Earnings for 2026 are expected to grow 13.5% from a year ago. EMCOR surpassed earnings estimates in three of the trailing four quarters and missed on one occasion, with the average surprise being 10.4%.

Price and Consensus: EME

Tutor Perini: Based in Sylmar, CA, this company is a construction company serving public and private clients. Tutor Perini has been benefiting from its record $19.8 billion backlog (as of first-quarter 2026), including nine recently secured mega projects that provide multi-year revenue visibility. Management expects double-digit revenue growth in 2026 and even stronger earnings in 2027 as these higher-margin projects ramp up. The company also sees a robust pipeline of large bidding opportunities across transportation, healthcare, military infrastructure, hospitality and gaming projects in the United States and the Indo-Pacific region. Incremental work on existing contracts, favorable macroeconomic tailwinds, disciplined bidding for higher-margin projects and strong public and private infrastructure funding further strengthen its long-term growth prospects.

Tutor Perini, currently carrying a Zacks Rank #2 (Buy), has gained 67.5% over the past year. Earnings estimates for 2026 have risen to $5.18 from $4.72 per share over the past 60 days. Earnings for 2026 are expected to grow 20.8% from a year ago. TPC surpassed earnings estimates in all the trailing four quarters, with the average surprise being 107.4%. Again, it carries an impressive VGM Score of A.

Price and Consensus: TPC

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