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MasTec, Inc. (MTZ) reported third-quarter 2025 results on October 30, 2025, with adjusted earnings per share (EPS) of $2.48, exceeding the Zacks Consensus Estimate of $2.31 by 7.4%, and marking a 48% increase year-over-year. Revenues reached $3.97 billion, up 22% from the previous year, outpacing the consensus estimate of $3.89 billion by 1.6%.
As of September 30, 2025, MasTec’s backlog stood at $16.78 billion, reflecting a year-over-year increase of 21.1%. However, free cash flow fell sharply to $36 million, an 85.7% decline from the same quarter last year. Shares of MasTec saw a 2.3% decline in after-hours trading following the announcement.
For the fiscal year 2025, MasTec projects revenues of approximately $14.07 billion and an adjusted EBITDA of $1.14 billion. The company anticipates adjusted earnings of $6.40 per share, compared to the Zacks Consensus Estimate of $6.32 per share.
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