MasTec ve 2. čtvrtletí zvýšil tržby o 23 % na 4,4 mld. USD a upravený EPS vyskočil o 49 % na 2,22 USD. Firma zároveň zvedla celoroční výhled na tržby 18,2 mld. USD a upravený EPS 9,30 USD.
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.
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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 20.44, as shown in the chart below.
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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.
MasTec posiluje integrovanou infrastrukturu po akvizici Superior Group, která rozšířila elektrické schopnosti pro kritické provozy a datová centra. Strategii podporuje rekordní backlog 21,4 mld. USD.
Key Takeaways MasTec is integrating civil, power, telecom, pipeline and electrical capabilities on one platform.The Superior acquisition expands MTZ's electrical expertise in mission-critical facilities and data centers.MTZ's strategy is backed by a record $21.4B backlog, though Communications deferrals remain a headwind. MasTec, Inc. (MTZ - Free Report) is evolving from a diversified infrastructure contractor into a more integrated, end-to-end platform capable of serving customers across the full project life cycle. Its capabilities now span construction management, civil work, power delivery, telecommunications, pipelines and maintenance, allowing multiple MasTec businesses to collaborate on complex projects. The company’s turnkey data center project demonstrates this strategy, with multiple sister companies working together on a single development.
The acquisition of The Superior Group significantly strengthens this model. Superior adds full-service electrical capabilities and a skilled workforce, particularly in mission-critical facilities and data centers. Combined with MasTec’s broader geographic reach and infrastructure capabilities, the deal creates opportunities to deepen customer relationships and provide more comprehensive solutions that improve speed, quality and execution certainty.
This integrated approach is particularly relevant as AI-driven data centers require coordinated investment across electrical systems, grid connections, power generation, natural gas infrastructure, fiber connectivity and civil construction. MasTec is increasingly positioned to capture a larger share of this spending rather than participating in only one part of a project. Management is also engaging customers earlier in development and pursuing opportunities across the entire mission-critical project life cycle.
The strategy is supported by a record $21.4 billion backlog and strong demand across several infrastructure markets. However, near-term Communications project deferrals remain a headwind. Still, diversification and the Superior acquisition should strengthen MasTec’s ability to benefit from the expanding infrastructure investment cycle.
MasTec Versus Its Infrastructure RivalsMasTec faces strong competition from Quanta Services (PWR - Free Report) and EMCOR Group (EME - Free Report) as infrastructure spending increasingly shifts toward integrated, mission-critical projects. Quanta is perhaps the closest comparison, with broad capabilities spanning engineering, procurement, construction, power generation, transmission, substations, pipelines and communications. Quanta is also building turnkey solutions for data centers, combining on-site electrical infrastructure with grid interconnections and power generation. Recent acquisitions have further expanded Quanta's electrical, mechanical and fabrication capabilities for data centers and other large-load customers.
EMCOR is particularly formidable in mission-critical construction. It provides electrical and mechanical construction, HVAC, plumbing, fire protection, prefabrication and facilities services for data centers. Its ability to support projects from design and construction through ongoing maintenance gives EMCOR a strong full-lifecycle offering. Against these rivals, MasTec’s differentiator is its combination of civil, power, telecom, pipeline and newly strengthened electrical capabilities under one platform.
MTZ Stock’s Price Performance, Valuation & Estimate TrendShares of this Florida-based infrastructure construction company have gained 36% over the past year, outperforming the Zacks Building Products - Heavy Construction industry, the broader Zacks Construction sector and the S&P 500 Index.
MTZ Price Performance (1 Year)
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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 21.35, as shown in the chart below.
MTZ Valuation (P/E F12M)
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MTZ's earnings estimates for 2026 have moved upward in the past 30 days to $9.31 per share, but the same for 2027 moved down to $12.77 per share. The revised estimates for 2026 and 2027 imply a year-over-year surge of 42.1% and 37.2%, respectively.
MTZ Estimate Trend
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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 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)
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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.
MasTec po akvizici The Superior Group posiluje expanzi do datových center díky nové elektrické expertize a širší pracovní síle. Téměř 2,5 miliardy USD růstu backlogu za poslední dvě čtvrtletí má z větší části přinést výsledky až v roce 2027.
Key Takeaways MasTec's Superior deal expands its data center reach with added electrical and skilled-workforce capabilities.Superior can pair with MasTec's power, civil, telecom and construction management services on larger projects.Most of MasTec's recent $2.5 billion backlog growth is expected to benefit 2027 rather than 2026. MasTec, Inc. (MTZ - Free Report) is expanding its exposure to the fast-growing data center market through its acquisition of The Superior Group, adding electrical expertise to an infrastructure platform already spanning power, civil construction, telecom and maintenance.
Superior, acquired in July, is a full-service electrical contractor with roughly 3,000 employees and a strong position in data center infrastructure. Management believes combining Superior’s electrical capabilities with MasTec’s broader services can provide customers with more integrated solutions, improving speed, quality and execution certainty.
The deal also creates cross-selling opportunities. MasTec expects to pair Superior’s capabilities with its construction management, civil, power and telecom operations, allowing it to participate across more stages of mission-critical projects. Its existing turnkey data center project is progressing well, while the company is pursuing several large opportunities and expects additional awards in 2026.
Importantly, data center growth can benefit multiple MasTec businesses. Power Delivery is seeing rising demand tied to the power requirements of data center development, while Communications is pursuing billions of dollars of hyperscaler connectivity opportunities. Superior adds another important piece by strengthening MasTec’s electrical infrastructure capabilities and expanding its skilled workforce.
The financial impact could become more visible in 2027. MasTec recorded nearly $2.5 billion of backlog growth over the past two quarters, but only a modest portion is expected to contribute to 2026 revenues, with most benefiting 2027. Management believes Superior and its turnkey data center capabilities have fundamentally expanded MasTec’s mission-critical position.
Superior gives MasTec a broader way to capture the AI-driven data center infrastructure buildout rather than relying on a single construction specialty.
MasTec Faces Strong Data Center CompetitionMasTec’s expanding data center position puts it against established infrastructure players such as Quanta Services (PWR - Free Report) and EMCOR Group (EME - Free Report) , both of which are benefiting from rising AI-related infrastructure investment.
Quanta Services is a particularly strong competitor because its capabilities span the power infrastructure needed to support large data centers. Quanta Services provides solutions covering high-voltage transmission, substations and grid interconnections as well as electrical infrastructure inside data centers. Rising AI workloads and power requirements are expanding Quanta Services’ addressable market, making it a major competitor as MasTec combines Superior’s electrical expertise with its existing power and construction capabilities.
EMCOR Group also represents a meaningful competitive threat. EMCOR Group has significant exposure to data centers and high-tech facilities, supported by its electrical and mechanical construction capabilities. EMCOR Group’s established presence in complex facilities overlaps directly with the opportunity MasTec is targeting through Superior. Still, Superior strengthens MasTec’s ability to compete by adding electrical expertise to its broader power, telecom, civil and construction-management platform.
MTZ Stock’s Price Performance, Valuation & Estimate TrendShares of this Florida-based infrastructure construction company have gained 23.7% 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 premium compared with its industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 23.78, as shown in the chart below.
MTZ Valuation (P/E F12M)
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MTZ's earnings estimates for 2026 have moved upward in the past 30 days to $9.31 per share, but the same for 2027 moved down to $12.77 per share. The revised estimates for 2026 and 2027 imply a year-over-year surge of 42.1% and 37.2%, respectively.
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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 má rekordní backlog 21,4 miliardy USD na konci 2. čtvrtletí 2026, meziročně o 30 % vyšší, a většina přírůstku za 1. pololetí ve výši téměř 2,5 miliardy USD má podpořit tržby v roce 2027.
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)
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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 25.13, as shown in the chart below.
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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.
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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 zvýšil výhled na rok 2026 na tržby 18,2 mld. USD, EBITDA 1,6 mld. USD a upravený zisk na akcii (EPS) 9,30 USD. Akcie letos přidaly 25,9 % díky rekordnímu backlogu, ale slabost v segmentu Communications a záporný volný cash flow zůstávají rizikem.
Key Takeaways MTZ gained 25.9% YTD as record backlog, improving margins and infrastructure demand fueled momentum.MasTec raised 2026 guidance to $18.2B in revenues, $1.6B EBITDA and adjusted EPS of $9.30.Communications weakness, negative Q2 free cash flow and higher debt temper MasTec's growth story. MasTec, Inc. (MTZ - Free Report) has delivered a strong run in 2026, with shares gaining 25.9% year to date. The stock has outperformed the Zacks Building Products - Heavy Construction industry’s 21.8% rise, the Zacks Construction sector’s 11.9% gain and the S&P 500 Index’s 13.1% advance.
MTZ Price Performance (YTD)
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The rally has been supported by improving earnings, record backlog and strong infrastructure spending across power, clean energy, pipelines and mission-critical projects. However, with the stock already reflecting part of this growth and Communications facing near-term weakness, investors need to assess whether the current level still offers enough upside.
Record Q2 Results Strengthen MTZ’s Growth CaseMasTec’s second-quarter performance provides solid support for the stock’s YTD advance. Revenues increased 23.4% year over year to a quarterly record of $4.37 billion. Adjusted EBITDA climbed 39.8% to $384 million, while adjusted EBITDA margin expanded 100 basis points (bps) to 8.8%. Adjusted earnings per share (EPS) rose 48.8% to a second-quarter record of $2.22.
Importantly, growth was broad outside Communications. Clean Energy and Infrastructure revenues surged 43.4%, with EBITDA rising 53.9%. Power Delivery revenues advanced 19.2% and EBITDA increased 23.7%. Pipeline Infrastructure was another standout, with revenues rising 19.1% and EBITDA jumping 91%, lifting its EBITDA margin 690 bps to 18.4%.
This mix shows that MasTec is becoming less dependent on any single infrastructure market, which could make earnings growth more consistent.
MTZ’s Record Backlog Provides Strong Revenue VisibilityMasTec ended the quarter with a record 18-month backlog of $21.4 billion, up 30% year over year and about 5% sequentially. The company also reported a roughly 1.2X book-to-bill ratio.
Clean Energy and Infrastructure has been a major contributor. The earnings presentation shows that its backlog reached $7.8 billion, rising about $2.9 billion year over year. Power Delivery backlog also reached a record level of about $6.3 billion.
This backlog matters because the demand drivers extend beyond 2026. MasTec is seeing spending tied to grid modernization, power generation, data centers, industrial infrastructure and natural gas infrastructure. Management also noted that the pace of project bids, negotiations and longer-term development remains very strong, with large project pursuits increasing during the second quarter.
AI, Power Demand and Superior Expand MasTec’s OpportunityThe acquisition of The Superior Group adds another growth engine. Superior brings roughly 3,000 employees and strong capabilities in electrical construction for data centers, while also serving healthcare, entertainment and industrial markets. The combination should allow MasTec to offer customers a broader range of integrated infrastructure services.
The deal fits directly into MasTec’s mission-critical strategy. AI and data-center expansion require power generation, grid connections, substations, electrical infrastructure, pipelines, fiber and other construction services — areas where MasTec has meaningful capabilities.
Power Delivery is already benefiting from grid modernization, electrification, system reliability spending and rising electricity needs from data centers. Meanwhile, Clean Energy and Infrastructure is seeing strong renewable demand, greater power-generation opportunities and progress on a turnkey data-center project.
Management believes its mission-critical exposure is still at an early stage, suggesting that this growth theme could extend well beyond the current year.
Raised 2026 Outlook & Estimate Revisions Support MomentumStrong execution and the addition of Superior prompted MasTec to increase its 2026 outlook. Management now expects revenues of $18.2 billion, adjusted EBITDA of $1.6 billion and adjusted EPS of $9.30, representing growth of 27%, 39% and 42%, respectively. The earnings presentation also calls for third-quarter revenues of $4.93 billion, adjusted EBITDA of $482 million and adjusted EPS of $2.98.
The estimate trend is equally encouraging. Over the past 30 days, the Zacks Consensus Estimate for 2026 EPS has increased to $9.31 from $9.05, implying 42.1% growth. The 2027 estimate has risen to $12.67 from $12.43, suggesting another 36.1% increase. Revenues are expected to grow 27% in 2026 and 17.2% in 2027.
MTZ EPS Estimate Revision Trend
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MTZ EPS Estimate Revision TrendCommunications Weakness Remains a Key Concern The outlook is not strong across every business. Communications is the clearest weak spot. Second-quarter Communications revenues increased 6.2% to $888.9 million, but EBITDA declined 11.6% to $73.1 million and margin contracted 170 basis points to 8.2%.
MasTec has reduced its Communications expectations for the remainder of 2026. Management expects lower wireless revenues during the second half as the industry waits for equipment needed for the next spectrum deployment cycle. Wireline is also being affected by RDOF work rolling off and delayed starts for replacement projects.
Execution issues on certain projects and higher indirect fuel and equipment expenses have added pressure. MasTec now expects full-year Communications revenues of about $3.25 billion and EBITDA margins in the high single digits, roughly 100 basis points below the prior year.
Cash Flow and Acquisition-Related Leverage Need WatchingMasTec’s rapid expansion also comes with balance-sheet considerations. Long-term debt, including finance leases, stood at $2.57 billion as of June 30, 2026, up from $2.18 billion at 2025-end. Cash and cash equivalents declined to $315.6 million from $396 million over the same period. First-half operating cash flow improved to $120.3 million from $84 million a year earlier.
Yet second-quarter free cash flow remained negative at $59 million compared with negative $45 million a year earlier.
There is reason for improvement: MasTec expects 2026 operating cash flow to exceed $1 billion and year-end leverage to remain below 2X. Still, execution on cash conversion and leverage following the Superior acquisition warrants attention.
Valuation Suggests Investors Should Not Ignore the PriceMasTec currently trades at 24X forward 12-month earnings, above the industry’s 21.62X. However, the valuation is almost in line with MTZ’s five-year median of 23.91X.
MTZ Valuation (P/E F12M)
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That makes the stock neither clearly cheap nor excessively expensive relative to its own history. The premium to the industry appears partly justified by strong EPS growth, record backlog and rising exposure to AI-related infrastructure. Still, after a 25.9% YTD gain, further multiple expansion may be harder to achieve unless MasTec continues raising earnings expectations.
Analyst sentiment remains very positive. All 20 recommendations contributing to MTZ’s Average Brokerage Recommendation rate the stock a Strong Buy, resulting in an ABR of 1.00. The average Wall Street price target of $444 implies substantial upside from the latest closing price.
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MasTec Versus Key Infrastructure PeersMasTec operates across several infrastructure markets, making Quanta Services, Inc. (PWR - Free Report) , EMCOR Group, Inc. (EME - Free Report) and MYR Group Inc. (MYRG - Free Report) relevant peers. Quanta Services shares have surged 59.2% YTD, MYR Group has gained 54.4% and EMCOR has rallied 33.5%, meaning all three have outpaced MasTec’s 25.9% gain.
Valuation provides a more mixed picture. Quanta Services trades at 38.06X forward 12-month earnings, well above MasTec’s 24X multiple. MYR Group trades at 26.43X, while EMCOR trades at 24.11X.
Thus, MasTec is substantially cheaper than Quanta Services and modestly cheaper than MYR Group, while trading almost in line with EMCOR. Quanta Services benefits from strong electric-power and grid investment, EMCOR has major exposure to data centers and high-tech facilities, and MYR Group is closely tied to transmission and distribution spending. MasTec’s broader exposure to clean energy, pipelines, communications and mission-critical construction offers diversification against these peers.
Is MasTec’s Rally Still Worth Chasing?MasTec entered the second half of 2026 with several strong cards — record backlog, improving margins, rising earnings estimates, strong power and clean-energy markets and greater exposure to data-center and mission-critical investment through Superior. These factors provide a solid base for growth into 2027.
However, the 25.9% YTD rally has already rewarded investors for part of that improvement. Communications weakness, negative second-quarter free cash flow, higher debt following expansion and a valuation premium to the industry argue against aggressively chasing the stock at current levels.
With MasTec carrying a Zacks Rank #3 (Hold), existing investors may have enough fundamental support to stay invested, while new investors could consider waiting for a better entry point. The long-term infrastructure story remains attractive, but the current risk-reward profile supports patience rather than chasing the rally. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
MasTec ve 2. čtvrtletí zvýšil tržby o 23 % na rekordních 4,37 mld. USD a upravený EPS o 49 % na 2,22 USD. Firma zároveň zvedla výhled na celý rok 2026.
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)
Image Source: Zacks Investment Research
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 zvýšil výhled na rok 2026 na tržby 18,2 mld. USD, upravenou EBITDA 1,6 mld. USD a upravený EPS 9,30 USD. 18měsíční backlog dosáhl rekordu 21,4 mld. USD, meziročně o 30 % více.
Key Takeaways MTZ raised 2026 guidance to $18.2B revenues, $1.6B adjusted EBITDA and $9.30 adjusted EPS.MTZ's 18-month backlog reached a record $21.4B, up 30% year over year.MTZ said the Superior acquisition expands data center capabilities and mission-critical reach. MasTec’s (MTZ - Free Report) second-quarter earnings call centered on management’s view that the company is entering a prolonged infrastructure investment cycle driven by data centers, power demand, grid modernization and energy infrastructure needs.
Executives highlighted record backlog growth, the acquisition of The Superior Group and expanding exposure to mission-critical infrastructure markets as key factors shaping the company’s long-term outlook.
MasTec reported adjusted earnings per share of $2.22, which surpassed the Zacks Consensus Estimate of $2.19. Revenues totaled $4.37 billion, also exceeding the Zacks Consensus Estimate of $4.30 billion.
MasTec Sees Early Stages of Infrastructure CycleChief executive officer Jose Mas said the company believes it is in the early stages of a major infrastructure investment cycle supported by artificial intelligence, data centers, grid reliability, energy demand and connectivity spending.
He emphasized that these trends are creating long-term opportunities across multiple business segments and strengthening customer demand.
Management also noted that the company’s visibility extends beyond its reported backlog, particularly in mission-critical infrastructure markets.
MTZ Raises Full-Year 2026 GuidanceManagement increased its 2026 financial outlook after delivering record second-quarter results and completing the acquisition of The Superior Group.
MasTec now expects full-year revenues of $18.2 billion, adjusted EBITDA of $1.6 billion and adjusted diluted earnings per share of $9.30.
Executives said the updated forecast reflects strong execution, favorable demand trends and growing contributions from large infrastructure projects.
Superior Acquisition Expands Data Center ReachMas highlighted the recent acquisition of The Superior Group as a significant strategic development.
The company described Superior as a leading North American electrical contractor with approximately 3,000 employees and strong expertise in data center infrastructure.
Management said the transaction broadens MasTec’s service offerings and enhances its ability to deliver integrated infrastructure solutions for customers across several end markets.
MTZ Backlog Climbs to Record LevelsMasTec ended the quarter with a record 18-month backlog of $21.4 billion, representing a 30% increase from the prior year and a sequential increase from the first quarter.
Management pointed to significant growth in the Clean Energy and Infrastructure segment as a major contributor to backlog expansion.
Executives also emphasized that a substantial portion of recent backlog additions is expected to support future periods rather than contribute materially to 2026 revenue.
Communications Segment Faces Near-Term PressureDuring the call, management addressed questions regarding the Communications segment, where revenue grew modestly while profitability declined year over year.
Executives attributed the softer environment primarily to project timing and customer spending patterns rather than a deterioration in underlying demand.
Management maintained that long-term communications infrastructure investment remains supported by network upgrades and connectivity requirements.
Power and Energy Markets Drive GrowthChief Financial Officer Paul DiMarco highlighted strong execution in Power Delivery, where revenue increased to approximately $1.25 billion and EBITDA margins exceeded 9%.
Management also pointed to growing demand for natural gas infrastructure as customers commit to future energy needs tied to power generation and data center development.
The company said current pipeline constraints and increasing energy demand are improving long-term prospects for the Pipeline Infrastructure business.
MTZ Focuses on Mission-Critical InfrastructureExecutives repeatedly emphasized the company’s growing exposure to mission-critical infrastructure opportunities.
Management noted that the combination of Superior and prior data center awards has expanded MasTec’s position in this market and strengthened future growth potential.
The company also indicated that only a modest portion of recent mission-critical project wins contributes to 2026 revenue, leaving a larger contribution expected in future years.
Management Emphasizes Execution and VisibilityThe overarching theme of the call was management’s confidence in the durability of infrastructure demand across its end markets.
Executives pointed to record revenue, profitability and backlog levels as evidence of strong execution across the business.
Management believes the company is well positioned to benefit from sustained investment in power, energy, connectivity and data center infrastructure over the coming years.
Zacks Rank and Style ScoresMTZ currently carries a Zacks Rank #3 (Hold). Under the Zacks methodology, earnings estimate revisions remain the primary factor influencing the ranking system and are considered a key driver of stock performance. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The stock also holds a Growth Score of A, reflecting its strong growth characteristics. In addition, MTZ has a VGM Score of A, a composite metric that combines Value, Growth and Momentum factors into a single score designed to identify stocks with balanced investment attributes.
According to Zacks, Style Scores are intended to complement the Zacks Rank rather than replace it. Investors often use Growth, Value, Momentum and VGM scores alongside the Zacks Rank when evaluating investment opportunities.
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.
MasTec čeká ve 2. čtvrtletí tržby 4,30 miliardy USD, což by znamenalo meziroční růst o 21,2 %. Tahounem mají být optická vlákna, datová centra a modernizace sítě.
Key Takeaways MasTec is expected to report second-quarter revenue growth driven by diversified end-market demand.MTZ is likely to benefit from fiber, data center, grid modernization and natural gas infrastructure activity.MasTec's second-quarter margins are expected to benefit from improved execution despite ongoing investments. MasTec, Inc. (MTZ - Free Report) is scheduled to report second-quarter 2026 results on July 30, after the closing bell.
In the last reported quarter, its earnings and revenues surpassed the Zacks Consensus Estimate by 41.8% and 10.3%, respectively. Also, on a year-over-year basis, both metrics grew 174.1% and 34.5%, respectively.
This leading infrastructure construction company’s earnings beat estimates in each of the trailing four quarters, with an average surprise of 15.4%.
MTZ’s Q2 Earnings & Revenue ExpectationsThe Zacks Consensus Estimate for MTZ’s second-quarter earnings has remained stable at $2.19 per share in the past 30 days. The estimated figure indicates a 47% increase on a year-over-year basis.
The consensus estimate for revenues is pegged at $4.30 billion, indicating a 21.2% year-over-year rise.
Factors Likely to Shape MasTec’s Quarterly ResultsRevenuesMasTec is likely to deliver year-over-year revenue growth in the second quarter, supported by broad-based organic expansion, solid execution and favorable demand trends across its diversified end markets. Growth is expected to have been driven by strong communications infrastructure spending, particularly broadband deployment, fiber expansion and data center interconnectivity investments, alongside sustained activity in renewables, grid modernization and natural gas infrastructure construction.
The diversified operating model of MasTec is expected to have been a core strength in the second quarter. The Communications segment (contributed 20.9% to the first quarter of 2026 revenues) is likely to have benefited from sustained wireline demand, expanding fiber deployments, growing data center interconnectivity projects and multiyear turnkey opportunities with telecom customers. Meanwhile, the Clean Energy & Infrastructure segment (contributed 34.7% to the first quarter of 2026 revenues) is expected to have been supported by strong renewable activity, growing industrial and civil infrastructure projects, mission-critical general building work, increasing data center construction activity and disciplined project execution.
The Power Delivery segment (contributed 27.3% to the first quarter of 2026 revenues) is positioned to have capitalized on sustained transmission, substation and distribution investments driven by grid reliability needs, increasing electricity demand and AI-led infrastructure expansion. Likewise, the Pipeline Infrastructure segment (contributed 17.8% to the first quarter of 2026 revenues) is expected to have benefited from growing natural gas infrastructure demand, rising LNG-related investments, firm customer commitments and improving visibility into future project awards, factors that are likely to have supported the segment's performance in the to-be-reported quarter.
For the Power Delivery unit, revenues are currently pegged at $1.17 billion, up from $1.05 billion reported a year ago. The Zacks Consensus Estimate for the Communications segment revenues is currently pegged at $875 million compared with $836.9 million reported a year ago.
Additionally, the Pipeline Infrastructure unit's revenues are currently pegged at $598 million, up from $539.7 million reported a year ago.
The Clean Energy & Infrastructure segment is also expected to remain a key growth driver, with second-quarter revenues currently pegged at $1.68 billion compared with $1.13 billion reported a year ago.
MarginsOn the margins front, the bottom-line performance in the second quarter is likely to represent growth from the prior year, supported by higher volumes, improved project execution, operating leverage, productivity initiatives and disciplined cost management. Better execution across major projects and favorable operating leverage are also expected to have supported margin expansion in the to-be-reported quarter.
However, margins might have faced modest headwinds from a higher mix of general building activity within the Clean Energy & Infrastructure segment, ongoing investments in expanding Communications capabilities across new markets, and normal ramp-up costs on large infrastructure projects. These factors might have partially offset the benefits of stronger execution and higher operating leverage in the to-be-reported quarter.
The Zacks Consensus Estimate for adjusted EBITDA in the Clean Energy and Infrastructure segment is currently pegged at $130 million compared with $83.3 million reported in the prior-year quarter. The Communications segment is projected to generate adjusted EBITDA of $94 million, up from $82.6 million a year ago.
For the Power Delivery and Pipeline Infrastructure segments, adjusted EBITDA is estimated at $105 million and $103 million, respectively, representing increases from $91.3 million and $62.1 million reported in the prior-year quarter.
BacklogFor backlog, the consensus mark is currently pegged at $20.52 billion compared with $16.45 billion reported a year ago.
The Zacks Consensus Estimate for backlog in the Clean Energy and Infrastructure segment is currently pegged at $7.28 billion compared with $4.92 billion reported in the prior-year quarter. The Communications segment is projected to report a backlog of $5.5 billion, up from $5 billion a year ago.
For the Power Delivery and Pipeline Infrastructure segments, backlog is estimated at $6.34 billion and $1.45 billion, respectively, representing an increase from $5.06 billion and a decrease from $1.46 billion reported in the prior-year quarter.
What Our Model Unveils for MTZ StockOur proven model does not conclusively predict a beat for MasTec this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as elaborated below.
MTZ’s Earnings ESP: The company currently has an Earnings ESP of 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
MTZ’s Zacks Rank: The stock currently has a Zacks Rank of 1.
Stocks With the Favorable CombinationHere are some companies in the Zacks Construction sector that, according to our model, have the right combination of elements to post an earnings beat in the quarter to be reported.
Boise Cascade Company (BCC - Free Report) has an Earnings ESP of +6.50% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Boise Cascade’s earnings beat estimates in two of the last four quarters, missed on one occasion and met on the remaining occasion, the average surprise being 40.8%. The company’s earnings for the second quarter of 2026 are expected to decline 25% year over year.
Amentum Holdings, Inc. (AMTM - Free Report) currently has an Earnings ESP of +3.18% and a Zacks Rank of 2.
The company's earnings beat estimates in each of the last four quarters, the average surprise being 4%. Amentum’s earnings for the second quarter of 2026 are expected to increase 12.5% year over year.
CRH plc (CRH - Free Report) has an Earnings ESP of +4.08% and a Zacks Rank of 3.
The company's earnings beat estimates in two of the last four quarters, missed on one occasion and met on the remaining occasion, the average surprise being 0.7%. CRH’s earnings for the second quarter of 2026 are expected to inch up 1% year over year.
MasTec dokončil dříve oznámenou akvizici Electrical Specialists, Inc., d/b/a The Superior Group za zhruba 1,65 miliardy USD v hotovosti a akciích. Firma tím posiluje kapacitu pro datová centra, energetiku a kritickou infrastrukturu.
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.
MasTec uzavřel dohodu o koupi společnosti The Superior Group za zhruba 1,65 miliardy USD, aby posílil infrastrukturu pro AI a datová centra. Firma očekává uzavření ještě tento měsíc a transakce má být okamžitě přínosná pro výnosy, EBITDA i EPS.
3 Stocks Cashing In on AI While Everyone Watches NVIDIAMasTec NYSE: MTZ said it has entered into a definitive agreement to acquire The Superior Group, an electrical infrastructure contractor focused on data centers and other mission-critical markets, in a transaction valued at approximately $1.65 billion upfront.
Chief Executive Officer Jose Mas said on the conference call that the acquisition expands MasTec’s position in infrastructure tied to artificial intelligence, cloud computing and digital infrastructure. He described Superior as “one of the premier electrical infrastructure contractors” serving hyperscalers, data center developers and mission-critical customers across the United States.
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3 Energy Stocks to Buy as AI Power Demand Surges—and 2 to Avoid“We believe this represents a generational infrastructure investment opportunity for the companies with the capabilities, skilled workforce, and track record to help build it,” Mas said.
Deal Terms and Financing Chief Financial Officer Paul DiMarco said the purchase price consists of $1.175 billion in cash and $475 million in MasTec common stock, along with a performance-based earn-out tied to Superior’s financial results over the three years after closing. MasTec expects to issue approximately 1.2 million shares as part of the equity consideration.
This infrastructure construction stock: Is it ready to pop?DiMarco said MasTec expects to fund the cash portion through cash on hand, borrowings under its existing credit facility and delayed-draw term loan facilities arranged for the transaction. The company expects the deal to close later this month after regulatory clearance.
The upfront consideration represents 6.9 times Superior’s expected 2026 EBITDA, DiMarco said. In response to an analyst question, Mas said MasTec expects the earn-out to add about one additional turn to the upfront multiple, depending on Superior’s performance. He added that the earn-out is uncapped and based on performance targets over three years.
Expected Financial Contribution MasTec said it expects the acquisition to be immediately accretive to revenue, adjusted EBITDA, earnings per share and cash flow from operations.
For 2026, MasTec expects Superior to contribute approximately five months of earnings to consolidated results, including:
$800 million to $900 million of revenue; $100 million to $150 million of adjusted EBITDA; and $0.50 to $0.65 of adjusted earnings per share. For the full year 2026, Superior is projected to generate approximately $1.6 billion to $1.7 billion of revenue and $225 million to $250 million of adjusted EBITDA. Looking ahead to 2027, MasTec expects Superior to generate $2.2 billion to $2.5 billion of revenue and $250 million to $275 million of adjusted EBITDA.
DiMarco said the expectations are preliminary, reflect a conservative approach and do not include revenue synergies, cross-selling opportunities or operational benefits from combining the businesses. Superior will become a new operating group within MasTec, and its results are expected to be reflected in the Power Delivery segment.
Data Center and Power Infrastructure Focus Mas said the transaction strengthens MasTec’s position in markets where power infrastructure, communications infrastructure and data center development are converging. He said MasTec already delivers critical infrastructure that brings power, communications and energy to data center campuses, while Superior adds capabilities “inside the campus” through electrical construction, integrated systems, prefabrication, commissioning support and maintenance services.
Mas said the combination gives MasTec a broader offering across the infrastructure value chain. He said customers increasingly want larger, integrated partners that can self-perform work, mobilize labor at scale and deliver complex projects with speed and reliability.
In response to a question from Citigroup analyst Andy Kaplowitz, Mas said MasTec has historically performed much of the work outside the building, while Superior performs work inside the building. He said the combination could allow MasTec to offer a more turnkey service to customers, including general contractors.
Superior’s Workforce and Growth Profile Superior has approximately 3,000 employees. Mas said access to skilled labor is one of the most important competitive advantages in the industry and described Superior’s workforce as one of the company’s most attractive assets.
During the Q&A, Mas said Superior is currently an all-union business and characterized the transaction as “a bet on labor scarcity.” He said Superior’s workforce has grown almost 400% over the last few years and that the company has shown a strong ability to recruit, train and deploy skilled electrical labor.
Mas also said Superior has grown 100% organically, with no history of acquisitions contributing to its recent expansion. He said the business has operated primarily in three states in recent years, but has signed contracts that will expand it into five states next year, with the potential for additional state expansion after that.
Asked about Superior’s backlog, Mas said MasTec conducted project-by-project due diligence and has “enormous conviction” in its 2027 expectations. He said Superior has five large customers and a blue-chip customer base, adding that MasTec expects backlog to grow significantly through the balance of the year.
Balance Sheet Outlook DiMarco said MasTec expects pro forma net leverage to be modestly above two times at closing, but expects net leverage to decline below two times by the end of 2026 due to the combined company’s expected earnings and cash flow generation.
He said the transaction should generate a low double-digit return on invested capital in the first year and support MasTec’s stated target of 16% in 2028. DiMarco also said MasTec remains committed to maintaining strong liquidity and preserving its investment-grade credit profile.
Mas said the company sees the data center build-out as still being in its early stages, based on conversations with customers, hyperscalers and advisors during due diligence. He acknowledged that the market may see “ups and downs,” but said MasTec remains bullish on the long-term opportunity.
About MasTec NYSE: MTZMasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.
The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.
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MasTec koupí Superior Group za 1,65 miliardy USD v hotovostně-akciové transakci, aby rozšířila nabídku infrastruktury pro datová centra. Uzavření se očekává v polovině až koncem července.
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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.
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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
Key Takeaways MasTec ended the first quarter with record backlog growth, supported by a 1.4x book-to-bill ratio.MTZ raised its 2026 revenue outlook to $17.5 billion, reflecting healthy demand across key end markets.MasTec's diversified projects span power, clean energy, communications and pipeline infrastructure. MasTec, Inc. (MTZ - Free Report) is strengthening revenue visibility through a growing pipeline of infrastructure projects across communications, power delivery, clean energy and pipeline markets. Strong demand across these end markets is improving the company's ability to sustain revenue growth while providing greater confidence in its long-term outlook.
The first quarter ended with backlog reaching a record $20.3 billion, up 28% year over year and $1.4 billion sequentially, supported by a 1.4x book-to-bill ratio. Growth was broad-based rather than dependent on a single business, with Power Delivery and Clean Energy & Infrastructure adding more than $600 million and $770 million, respectively, to sequential backlog.
Communications also reached another record backlog level, while pipeline opportunities extended beyond signed contracts, providing additional visibility into future work. The stronger project pipeline also supported higher full-year expectations, with MasTec increasing the 2026 revenue outlook to $17.5 billion from approximately $17 billion, implying 22% year-over-year growth as demand remained healthy across its end markets.
Beyond the size of the backlog, its composition adds to the company's growth outlook. Demand is being supported by long-term investment in AI-driven data centers, grid modernization, broadband expansion, natural gas infrastructure and other critical infrastructure projects rather than short-term spending cycles.
A diversified mix of projects across multiple end markets reduces dependence on any single business while creating multiple avenues for future revenue generation. With record backlog levels, favorable industry trends and an improved revenue outlook, MasTec appears well positioned to convert its expanding project pipeline into stronger revenue growth over the coming quarters.
How Does MasTec Compare With Infrastructure Peers?MasTec has built a diversified infrastructure platform spanning communications, power delivery, clean energy, pipeline and data center construction, positioning it to benefit from long-term investment across multiple end markets. As investors evaluate the company's growth prospects, comparisons with Quanta Services, Inc. (PWR - Free Report) and EMCOR Group, Inc. (EME - Free Report) provide additional perspective on the competitive landscape.
Quanta remains one of MasTec's closest peers in utility and energy infrastructure. The company ended the first quarter with a record backlog of $48.5 billion, up from $35.3 billion a year ago. Quanta’s 12-month backlog increased 45.4% to $28.2 billion, reinforcing strong multiyear revenue visibility. The backlog is supported by continued investment in grid modernization, transmission expansion, electrification and AI-driven power demand.
EMCOR is also benefiting from healthy project demand across electrical and mechanical construction, mission-critical facilities and network communications. As of March 31, EMCOR’s remaining performance obligations increased 32.9% year over year to $15.62 billion, providing greater visibility into future revenue while reflecting broad-based demand across data centers, industrial projects and commercial construction.
MTZ Stock’s Price Performance & Valuation TrendShares of this Florida-based infrastructure construction company have surged 60.6% in the past six months, outperforming the Zacks Building Products - Heavy Construction industry, the broader Zacks Construction sector and 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 35.62, as shown in the chart below.
Image Source: Zacks Investment Research
EPS Trend Favors MTZFor 2026 and 2027, MTZ’s earnings estimates have trended upward in the past 60 days. The revised estimated figures for 2026 and 2027 imply 35.9% and 35.3% year-over-year growth, respectively.
Image Source: Zacks Investment Research
MasTec currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AI infrastruktura a datová centra dál táhnou heavy construction, zatímco veřejné a energetické projekty zůstávají silné. Odvětví ale brzdí nedostatek kvalifikované pracovní síly a tlak na marže.
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.
MasTec očekává, že AI a datová centra podpoří silnou víceletou poptávku po optických sítích v řádu desítek miliard USD. Tržby divize Communications vzrostly v 1. čtvrtletí o 18 % na 802 mil. USD.
Key Takeaways MTZ sees AI data center interconnectivity driving multiyear fiber demand worth tens of billions.MTZ's Communications revenues rose 18% YoY to $802M in Q1 2026.MTZ expects about $875M in Q2 Communications revenues and low double-digit margins. MasTec, Inc.’s (MTZ - Free Report) Communications segment appears poised for a stronger growth cycle as artificial intelligence (AI) reshapes network infrastructure requirements. While traditional telecom spending has been uneven in recent years, the rapid buildout of AI data centers is creating a new source of fiber demand that extends beyond consumer broadband. Management believes the need to interconnect hyperscale data centers with high-capacity, low-latency fiber networks could create a multiyear investment opportunity measured in the tens of billions of dollars, providing a meaningful tailwind for the Communications business.
MasTec expects improving telecom fundamentals to support long-term growth, driven by rising data consumption from cloud computing, streaming, gaming and connected devices. Management noted that U.S. data usage is projected to nearly double by 2030, while AI is emerging as a major growth catalyst by increasing demand for high-bandwidth, low-latency fiber networks connecting hyperscale data centers. The company also expects the Broadband Equity, Access and Deployment (BEAD) program to boost rural broadband and middle-mile fiber construction, with public funding and private AI investments expanding growth opportunities beyond traditional wireless deployment cycles.
The improving demand environment is already beginning to translate into operating results. During the first quarter of 2026, the Communications segment’s revenues increased 18% year over year to $802 million. Although margins were temporarily affected by costs associated with exiting certain DIRECTV fulfillment markets, backlog reached another record level, rising 12% from the prior year. Management also pointed to strong, broad-based demand for wireline services and increasing customer interest in multiyear turnkey infrastructure projects. Looking ahead, MasTec expects Communications revenues of approximately $875 million in the second quarter while projecting low double-digit adjusted EBITDA margins.
While traditional telecom capital spending remains cyclical, MasTec believes AI-driven fiber deployment represents a structural growth opportunity rather than a short-term recovery. Combined with BEAD-funded broadband expansion and steadily increasing network traffic, the company sees multiple long-duration demand drivers supporting the Communications business. As AI data center interconnectivity accelerates and customers continue awarding larger turnkey fiber projects, the segment appears positioned to play a larger role in MasTec's broader infrastructure growth strategy.
How MasTec Compares in the AI-Driven Fiber Infrastructure RaceAs AI accelerates investment in digital infrastructure, MasTec is competing with companies such as Sterling Infrastructure, Inc. (STRL - Free Report) and Quanta Services, Inc. (PWR - Free Report) , each benefiting from different parts of the AI buildout. While Sterling Infrastructure is gaining from data center site development and Quanta Services from grid expansion, MasTec is differentiated by its exposure to the communications infrastructure that connects AI campuses through long-haul and metro fiber networks.
Sterling Infrastructure is benefiting from the AI investment cycle primarily through mission-critical site development rather than communications infrastructure. Its E-Infrastructure business is seeing exceptional demand from hyperscale data centers and semiconductor facilities, with first-quarter 2026 E-Infrastructure revenues rising 174% year over year. The company also secured the first phase of a multibillion-dollar semiconductor fabrication campus and reported more than $5 billion of mission-critical backlog and future-phase opportunities.
Quanta Services is approaching the AI buildout from the power infrastructure side. The company is benefiting from accelerating investments in electric transmission, substations, generation and integrated infrastructure required to serve hyperscale data centers and rising electricity demand. Management highlighted growing technology and load-center opportunities, continued investments in transformer manufacturing and off-site fabrication capacity, and a record backlog supported by utility and AI-related projects.
MTZ Stock’s Price Performance & Valuation TrendShares of this Florida-based infrastructure construction company have surged 97.4% in the past six months, outperforming the Zacks Building Products - Heavy Construction industry, the broader Zacks Construction sector and 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 42.68, as shown in the chart below.
Image Source: Zacks Investment Research
EPS Trend Favors MTZFor 2026 and 2027, MTZ’s earnings estimates have trended upward in the past 60 days. The revised estimated figures for 2026 and 2027 imply 35.9% and 35.3% year-over-year growth, respectively.
Image Source: Zacks Investment Research
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.
