Quarterly ResultApr 30, 2026, 04:35 PM
MTZ Q1 Revenue +34% to $3.83B; EPS $0.78; Acquires McKee Utility
AI Summary
MasTec, Inc. reported strong financial results for the first quarter of 2026, with revenue increasing by 34.4% to $3.83 billion and net income attributable to MasTec, Inc. surging by 514% to $60.8 million. Basic earnings per share rose to $0.78 from $0.13 year-over-year. The company also expanded its operations through the acquisition of an 86% equity interest in McKee Utility Contractors, LLC for $262 million, enhancing its Clean Energy and Infrastructure segment, and acquired assets of an equipment company for $20 million.
Key Highlights
- Acquired 86% of McKee Utility Contractors, LLC for $262 million cash in Q1 2026.
- Q1 2026 revenue increased 34.4% to $3.83 billion from $2.85 billion year-over-year.
- Net income attributable to MasTec, Inc. surged 514% to $60.8 million.
- Basic earnings per share rose 500% to $0.78 from $0.13 year-over-year.
- Operating income increased 291.8% to $141.8 million from $36.2 million year-over-year.
- Net cash provided by operating activities grew 26.1% to $98.9 million.
- Remaining performance obligations stood at $16.2 billion as of March 31, 2026.
- Goodwill additions from new business combinations totaled $97.7 million in Q1 2026.