MasTec Q1 Revenue Surges 34.5%, Beats Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 03 2026
0mins
Should l Buy MTZ?
Source: Yahoo Finance
- Strong Revenue Performance: MasTec reported Q1 revenue of $3.83 billion, a 34.5% year-over-year increase that surpassed analyst expectations of $3.47 billion, indicating robust growth driven by strong infrastructure demand.
- Profitability Improvement: The adjusted EPS of $1.39 exceeded analysts' forecast of $0.99 by 40.6%, reflecting the company's success in cost control and operational efficiency, which further bolstered investor confidence.
- Optimistic Guidance: Management raised full-year revenue guidance to $17.5 billion from $17 billion, a 2.9% increase, while also lifting adjusted EPS expectations to $8.79, demonstrating strong confidence in future market demand.
- Backlog Growth: MasTec's backlog reached $20.33 billion at the end of the quarter, up 27.8% year-over-year, indicating a strengthening market position in critical infrastructure projects and significant future growth potential.
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Analyst Views on MTZ
Wall Street analysts forecast MTZ stock price to fall
13 Analyst Rating
12 Buy
1 Hold
0 Sell
Strong Buy
Current: 412.270
Low
225.00
Averages
252.20
High
270.00
Current: 412.270
Low
225.00
Averages
252.20
High
270.00
About MTZ
MasTec, Inc. is an infrastructure construction company operating mainly throughout North America across a range of industries. The Company's segments include Communications, Clean Energy and Infrastructure, Power Delivery, Pipeline Infrastructure, and Other. Communications segment performs engineering, construction, maintenance and customer fulfillment activities related to communications infrastructure, primarily for wireless and wireline/fiber communications, wireless integration and optimization and install-to-the-home services, and others. Clean Energy and Infrastructure segment primarily serves energy, utility, government and other end-markets through the installation and construction of power generation facilities, primarily from clean energy and renewable sources, such as wind, solar, and hydrogen; various types of heavy civil and industrial infrastructure services, and others. Power Delivery segment primarily serves the energy, utility and data center infrastructure industries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
MasTec Reports Record Q1 2026 Revenue of $3.8B Driven by 34% Growth
- Significant Revenue Growth: MasTec reported record Q1 2026 revenue of $3.8 billion, reflecting a 34% year-over-year increase driven by double-digit growth across all operating segments, particularly a 91% surge in Pipeline Infrastructure and a 45% increase in Clean Energy & Infrastructure, showcasing the company's strong performance in infrastructure construction.
- Enhanced Profitability: The company achieved a record GAAP net income of $69.7 million in Q1, with adjusted EBITDA reaching $283.6 million and diluted EPS rising significantly to $0.77, indicating successful operational efficiency and cost control measures.
- Record Backlog: As of March 31, MasTec's 18-month backlog hit a record $20.3 billion, up $4.4 billion year-over-year, primarily driven by a 65% growth in the Clean Energy & Infrastructure segment, highlighting robust demand for renewable energy and infrastructure projects.
- Upgraded Financial Guidance: Following a strong start to the year, MasTec raised its full-year 2026 financial guidance to approximately $17.5 billion, representing a 22% growth, with adjusted diluted EPS now expected to be $8.79 and adjusted EBITDA projected to grow by 30% to $1.5 billion, reflecting the company's confidence in future growth.
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Investment Moves of Renowned Value Investor Ronald Muhlenkamp
- New Stock Purchases: In Q1 2026, Muhlenkamp added two stocks, with the most significant being Alpha Architect Freedom 100 Emerging Markets ETF (FRDM), acquiring 236,825 shares that represent 3.41% of his portfolio, valued at $12.94 million, indicating confidence in emerging markets.
- Key Position Increases: He increased his stake in LyondellBasell Industries NV (LYB) by 1,338 shares, bringing the total to 187,159 shares, which represents a 0.03% increase in portfolio impact with a total value of $15.08 million, reflecting his long-term bullish outlook on the company.
- Complete Exit from Holding: Muhlenkamp fully exited his position in Chart Industries Inc (GTLS) by selling 7,924 shares, resulting in a -0.44% impact on the portfolio, suggesting a reassessment of the stock's future prospects.
- Major Stock Reductions: He reduced his position in MasTec Inc (MTZ) by 62,928 shares, leading to a 59.5% decrease in shares and a -3.68% portfolio impact, demonstrating a cautious stance despite the stock's impressive 67.22% return over the past three months.
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MasTec Q1 Revenue Surges 34.5%, Beats Expectations
- Strong Revenue Performance: MasTec reported Q1 revenue of $3.83 billion, a 34.5% year-over-year increase that surpassed analyst expectations of $3.47 billion, indicating robust growth driven by strong infrastructure demand.
- Profitability Improvement: The adjusted EPS of $1.39 exceeded analysts' forecast of $0.99 by 40.6%, reflecting the company's success in cost control and operational efficiency, which further bolstered investor confidence.
- Optimistic Guidance: Management raised full-year revenue guidance to $17.5 billion from $17 billion, a 2.9% increase, while also lifting adjusted EPS expectations to $8.79, demonstrating strong confidence in future market demand.
- Backlog Growth: MasTec's backlog reached $20.33 billion at the end of the quarter, up 27.8% year-over-year, indicating a strengthening market position in critical infrastructure projects and significant future growth potential.
See More
MasTec Reports Strong Q1 2026 Earnings, Raises Full-Year Guidance
- Significant Revenue Growth: MasTec's Q1 revenue reached $3.829 billion, a 34% year-over-year increase, indicating strong market performance that is expected to further enhance shareholder returns.
- Adjusted Earnings Per Share: The adjusted EPS was $1.39, reflecting the company's success in cost control and operational efficiency, which boosts investor confidence in future profitability.
- Record Backlog: The backlog at quarter-end was $20.3 billion, a sequential increase of $1.4 billion, highlighting strong demand in the infrastructure sector and solidifying the company's market position.
- Upward Revision of Full-Year Guidance: Management raised the 2026 revenue outlook to $17.5 billion with adjusted EBITDA of $1.5 billion, demonstrating optimism about future market opportunities, particularly in power delivery and clean energy investments.
See More
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- Sector Performance Review: The industrial sector has gained 12% over the past six months due to a friendlier regulatory environment under the Trump administration, significantly outperforming the S&P 500's 5.4% return, indicating strong market optimism.
- MasTec Competitive Pressures: MasTec, with a market cap of $27.86 billion, faces severe challenges due to its low gross margin of 12.7% and a 5.8 percentage point decline in free cash flow margin, which restricts its responsiveness to market dynamics amid fierce supply chain competition.
- Lockheed Martin Growth Struggles: Lockheed Martin, valued at $140 billion, has only achieved a 2.8% annual sales growth over the past five years, significantly lagging its peers, with earnings per share declining by 2.6% annually, indicating weakening profitability; its current stock price is $606.55, reflecting a forward P/E of 20.5.
- TopBuild Demand Weakness: TopBuild, with a market cap of $10.92 billion, has seen muted 2% annual revenue growth over the last two years, with a gross margin of 29.8% indicating high production costs, and flat earnings per share that fall short of peer averages; its stock price is $388.11, with a forward P/E of 21.2.
See More
MasTec Reports Record Q1 2026 Revenue of $3.8B Driven by 34% Growth
- Significant Revenue Growth: MasTec reported record Q1 2026 revenue of $3.8 billion, reflecting a 34% year-over-year increase driven by double-digit growth across all operating segments, particularly a 91% surge in Pipeline Infrastructure and a 45% increase in Clean Energy & Infrastructure, showcasing the company's strong performance in infrastructure construction.
- Enhanced Profitability: The company achieved a record GAAP net income of $69.7 million in Q1, with adjusted EBITDA reaching $283.6 million and diluted EPS rising significantly to $0.77, indicating successful operational efficiency and cost control measures.
- Record Backlog: As of March 31, MasTec's 18-month backlog hit a record $20.3 billion, up $4.4 billion year-over-year, primarily driven by a 65% growth in the Clean Energy & Infrastructure segment, highlighting robust demand for renewable energy and infrastructure projects.
- Upgraded Financial Guidance: Following a strong start to the year, MasTec raised its full-year 2026 financial guidance to approximately $17.5 billion, representing a 22% growth, with adjusted diluted EPS now expected to be $8.79 and adjusted EBITDA projected to grow by 30% to $1.5 billion, reflecting the company's confidence in future growth.
See More
Investment Moves of Renowned Value Investor Ronald Muhlenkamp
- New Stock Purchases: In Q1 2026, Muhlenkamp added two stocks, with the most significant being Alpha Architect Freedom 100 Emerging Markets ETF (FRDM), acquiring 236,825 shares that represent 3.41% of his portfolio, valued at $12.94 million, indicating confidence in emerging markets.
- Key Position Increases: He increased his stake in LyondellBasell Industries NV (LYB) by 1,338 shares, bringing the total to 187,159 shares, which represents a 0.03% increase in portfolio impact with a total value of $15.08 million, reflecting his long-term bullish outlook on the company.
- Complete Exit from Holding: Muhlenkamp fully exited his position in Chart Industries Inc (GTLS) by selling 7,924 shares, resulting in a -0.44% impact on the portfolio, suggesting a reassessment of the stock's future prospects.
- Major Stock Reductions: He reduced his position in MasTec Inc (MTZ) by 62,928 shares, leading to a 59.5% decrease in shares and a -3.68% portfolio impact, demonstrating a cautious stance despite the stock's impressive 67.22% return over the past three months.
See More
Investor Perspectives on Multiple Companies
- Scotts Performance Risk: Scotts Miracle-Gro Company highlighted that poor weather conditions could adversely affect its performance, indicating a high sensitivity of its business to climate factors, which necessitates cautious risk assessment by investors.
- Santander Acquisition Praise: Banco Santander's acquisition of Webster Bank received positive feedback, with a former hedge fund manager praising it as a quality asset, reflecting confidence in the bank's future growth potential.
- Altria Stock Recommendation: Altria Group is advised to reduce holdings as analysts note its stock has surged too quickly, suggesting investors consider locking in some profits to mitigate risk.
- NextDecade's Outlook: NextDecade is viewed as having potential in LNG demand, although analysts maintain a cautious stance on its future performance, recommending investors to remain on the sidelines for now.
See More
MasTec Q1 Revenue Surges 34.5%, Beats Expectations
- Strong Revenue Performance: MasTec reported Q1 revenue of $3.83 billion, a 34.5% year-over-year increase that surpassed analyst expectations of $3.47 billion, indicating robust growth driven by strong infrastructure demand.
- Profitability Improvement: The adjusted EPS of $1.39 exceeded analysts' forecast of $0.99 by 40.6%, reflecting the company's success in cost control and operational efficiency, which further bolstered investor confidence.
- Optimistic Guidance: Management raised full-year revenue guidance to $17.5 billion from $17 billion, a 2.9% increase, while also lifting adjusted EPS expectations to $8.79, demonstrating strong confidence in future market demand.
- Backlog Growth: MasTec's backlog reached $20.33 billion at the end of the quarter, up 27.8% year-over-year, indicating a strengthening market position in critical infrastructure projects and significant future growth potential.
See More
MasTec Reports Strong Q1 2026 Earnings, Raises Full-Year Guidance
- Significant Revenue Growth: MasTec's Q1 revenue reached $3.829 billion, a 34% year-over-year increase, indicating strong market performance that is expected to further enhance shareholder returns.
- Adjusted Earnings Per Share: The adjusted EPS was $1.39, reflecting the company's success in cost control and operational efficiency, which boosts investor confidence in future profitability.
- Record Backlog: The backlog at quarter-end was $20.3 billion, a sequential increase of $1.4 billion, highlighting strong demand in the infrastructure sector and solidifying the company's market position.
- Upward Revision of Full-Year Guidance: Management raised the 2026 revenue outlook to $17.5 billion with adjusted EBITDA of $1.5 billion, demonstrating optimism about future market opportunities, particularly in power delivery and clean energy investments.
See More
Industrials Stocks Face Challenges and Opportunities
- Sector Performance Review: The industrial sector has gained 12% over the past six months due to a friendlier regulatory environment under the Trump administration, significantly outperforming the S&P 500's 5.4% return, indicating strong market optimism.
- MasTec Competitive Pressures: MasTec, with a market cap of $27.86 billion, faces severe challenges due to its low gross margin of 12.7% and a 5.8 percentage point decline in free cash flow margin, which restricts its responsiveness to market dynamics amid fierce supply chain competition.
- Lockheed Martin Growth Struggles: Lockheed Martin, valued at $140 billion, has only achieved a 2.8% annual sales growth over the past five years, significantly lagging its peers, with earnings per share declining by 2.6% annually, indicating weakening profitability; its current stock price is $606.55, reflecting a forward P/E of 20.5.
- TopBuild Demand Weakness: TopBuild, with a market cap of $10.92 billion, has seen muted 2% annual revenue growth over the last two years, with a gross margin of 29.8% indicating high production costs, and flat earnings per share that fall short of peer averages; its stock price is $388.11, with a forward P/E of 21.2.
See More
