MasTec Q3 revenue beats estimates on strength in power delivery segment

MasTec

29/10/2026 20:44

Overview
US infrastructure builder's Q3 revenue rose 30% yr/yr, beating analyst expectations
Adjusted diluted EPS for Q3 rose 19% yr/yr
Company backlog hit record $24.5 bln, led by 74% yr/yr growth in Power Delivery

Outlook
MasTec sees 2026 revenue at $18.3 bln
Company expects 2026 adj diluted EPS of $8.92-$9.30
MasTec says delayed pipeline project starts may shift revenue and earnings into 2027

Result Drivers
POWER DELIVERY - Strong Power Delivery segment performance, including Superior acquisition, drove Q3 results
PIPELINE DELAYS - Permitting delays on pipeline projects led to margin pressure and underutilized resources
SUSTAINED DEMAND - Co continues to see sustained demand strength across service offerings, notably in support of utility and large-load infrastructure 

Company press release: ID:nBw8WMkZMa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$5.15 bln
$4.94 bln (19 Analysts)
Q3 EPS
 
$1.89
 
Q3 Net Income
 
$168 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 22 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the construction & engineering peer group is "buy"
Wall Street's median 12-month price target for MasTec Inc is $348.00, about 92.3% above its October 28 closing price of $181.00
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 41 three months ago

Reuters Recommended Reads
Oct 29 - Caterpillar Q3 revenue rises 17%, slightly beats estimates
Oct 29 - Quanta Services Q3 revenue beats on broadening demand; raises 2026 outlook
     

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)