Analyst Consensus ?
ConsensusBuy35 ratings
Bullish3291.4%
Neutral38.6%
Bearish00.0%
MasTec, Inc. · MTZ · FY2025 Q4 · Calendar Q1 2026
MasTec’s 2025 backlog and data-center work underpin a higher 2026 revenue plan
MasTec’s reported 2025 growth, expanding backlog and data-center project activity support management’s higher 2026 revenue target. The thesis depends on converting large, multi-year projects into revenue while expanding margins and managing working-capital and capital-expenditure needs.
Reported After market closeNYSEIndustrials
$14.94B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.07
Consensus $1.95
EPS surprise
+6.2%
Reported versus consensus
Reported revenue
$3.94B
Consensus $3.72B
Revenue surprise
+6.0%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+2.8%
Event window
SPY move
-0.5%
Same window
Abnormal move
+3.3%
Stock minus SPY
Volume
2.2×
Versus trailing sessions
Subsequent drift
+6.0%
Up to 20 sessions
MTZSPY benchmark
Ask FN2 about MTZ FY2025 Q4
Transcript, numbers and history already loaded
Why did MTZ rise 2.8% after beating EPS estimates in FY2025 Q4?What changed in MTZ's guidance and outlook in FY2025 Q4?Give me the bull and bear case for MTZ after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management reported 2025 revenue of $14.3 billion, up 16%, and adjusted EBITDA of $1.15 billion, up 14%. Full-year backlog rose 33% to more than $4.5 billion, including $1 billion tied to data-center projects. Management set 2026 guidance at $17 billion in revenue and targeted margin expansion; the supplied analysis says guidance sentiment was maintained.
Guidance delta
The call analysis characterizes guidance sentiment as maintained. Management’s 2026 targets are $17 billion in revenue, $1.45 billion in adjusted EBITDA, an 8.5% adjusted EBITDA margin and $8.40 in EPS.
Key takeaways
- 2025 revenue reached $14.3 billion, up 16%, while adjusted EBITDA was $1.15 billion, up 14%.
- Backlog grew 33% to more than $4.5 billion; $1 billion was linked to data-center projects.
- 2026 targets call for $17 billion in revenue and $1.45 billion in adjusted EBITDA, with an 8.5% margin and $8.40 EPS.
- Acquisitions of NV2A and McKee broaden construction-management and water-infrastructure capabilities.
Management priorities
- Pursue the 2026 revenue target and margin expansion across segments.
- Increase self-performance capability in construction-management and data-center work.
- Continue acquisitions focused on construction-management and water infrastructure.
- Scale renewable and water-infrastructure businesses.
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Beat
Miss
Match
Analyst 52W Price Targets
$193.77Current
$87Low
$289.64Average
$550High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 2, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Citigroup | Buy | Buy | Maintain | Oct 23, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 19, 2026 |
| Barclays | Overweight | Overweight | Maintain | Oct 19, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Oct 15, 2026 |
| Stifel | Buy | Buy | Maintain | Oct 8, 2026 |
| Truist Securities | Buy | Buy | Maintain | Oct 5, 2026 |
| TD Cowen | Buy | Buy | Maintain | Oct 5, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Sep 28, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Aug 12, 2026 |
| UBS | Buy | Buy | Maintain | Aug 4, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Aug 4, 2026 |
| Baird | Outperform | Outperform | Maintain | Aug 3, 2026 |
| Guggenheim | Buy | Buy | Maintain | Jul 22, 2026 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Jul 9, 2026 |
| Clear Street | Buy | Buy | Maintain | Apr 17, 2026 |
| Jefferies | Buy | Buy | Maintain | Mar 13, 2026 |
| DA Davidson | Buy | Buy | Maintain | Mar 2, 2026 |
| Roth Capital | Buy | Buy | Maintain | Sep 25, 2025 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Sep 17, 2025 |
| B. Riley Securities | Buy | Buy | Maintain | Mar 19, 2025 |
| Craig-Hallum | Buy | Buy | Maintain | Nov 4, 2024 |
| Credit Suisse | Outperform | Outperform | Maintain | Aug 7, 2023 |
| Cowen & Co. | Outperform | Outperform | Maintain | Aug 8, 2022 |
| B. Riley FBR | Buy | Buy | Maintain | May 4, 2020 |
| Stephens & Co. | Overweight | Overweight | Maintain | Mar 17, 2020 |
| Deutsche Bank | Buy | Buy | Maintain | Aug 5, 2019 |
| Canaccord Genuity | Buy | Buy | Maintain | Aug 5, 2019 |
| B. Riley | Buy | Buy | Maintain | Aug 5, 2019 |
| Stifel Nicolaus | Buy | Buy | Maintain | Jan 26, 2018 |
| Avondale Partners | Market Perform | Market Outperform | Downgrade | Nov 18, 2016 |
| BB&T Capital | Hold | Buy | Downgrade | Nov 10, 2014 |
| Wunderlich Securities | Buy | Buy | Maintain | Oct 22, 2014 |
| Wunderlich | Buy | Buy | Maintain | Oct 22, 2014 |
| FBR Capital | Outperform | Outperform | Maintain | Jun 3, 2014 |
| Gilford Securities | Neutral | Neutral | Maintain | Jan 10, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $193.77. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Goldman Sachs | Ati Modak | $274 | $180.96 | +41.4% | Oct 22, 2026 |
| Barclays | Analyst unavailable | $320 | $191.02 | +65.1% | Oct 19, 2026 |
| KeyBanc | Analyst unavailable | $320 | $194.46 | +65.1% | Oct 15, 2026 |
| Cantor Fitzgerald | Manish Somaiya | $348 | $212.65 | +79.6% | Oct 12, 2026 |
| Stifel Nicolaus | Analyst unavailable | $305 | $223.37 | +57.4% | Oct 8, 2026 |
| Mizuho Securities | Analyst unavailable | $352 | $228.3 | +81.7% | Oct 7, 2026 |
| Piper Sandler | Dimple Gosai | $313 | $212.85 | +61.5% | Sep 28, 2026 |
| Piper Sandler | Analyst unavailable | $321 | $246.18 | +65.7% | Sep 8, 2026 |
| Goldman Sachs | Ati Modak | $409 | $272.65 | +111.1% | Aug 12, 2026 |
| UBS | Analyst unavailable | $410 | $267.06 | +111.6% | Aug 4, 2026 |
| Robert W. Baird | Analyst unavailable | $363 | $263.1 | +87.3% | Aug 3, 2026 |
| KeyBanc | Analyst unavailable | $371 | $263.1 | +91.5% | Aug 3, 2026 |
| Morgan Stanley | Analyst unavailable | $369 | $262.94 | +90.4% | Jul 31, 2026 |
| Guggenheim | Joseph Osha | $518 | $351.4 | +167.3% | Jul 22, 2026 |
| Robert W. Baird | Analyst unavailable | $475 | $382.9 | +145.1% | Jul 9, 2026 |
| Mizuho Securities | Analyst unavailable | $502 | $358.85 | +159.1% | Jul 8, 2026 |
| Truist Financial | Analyst unavailable | $550 | $390.61 | +183.8% | Jul 2, 2026 |
| KeyBanc | Sangita Jain | $500 | $420.3 | +158.0% | May 13, 2026 |
| Guggenheim | Joseph Osha | $480 | $420.3 | +147.7% | May 13, 2026 |
| Mizuho Securities | Analyst unavailable | $498 | $433.4 | +157.0% | May 5, 2026 |
| Stifel Nicolaus | Brian Brophy | $455 | $425.27 | +134.8% | May 4, 2026 |
| Jefferies | Analyst unavailable | $493 | $419.98 | +154.4% | May 4, 2026 |
| Truist Financial | Analyst unavailable | $518 | $419.2 | +167.3% | May 4, 2026 |
| Roth Capital | Analyst unavailable | $450 | $416.87 | +132.2% | May 4, 2026 |
| KeyBanc | Analyst unavailable | $460 | $417.41 | +137.4% | May 4, 2026 |
| Truist Financial | Jamie Cook | $425 | $369.97 | +119.3% | Apr 20, 2026 |
| Stifel Nicolaus | Analyst unavailable | $401 | $358.14 | +106.9% | Apr 17, 2026 |
| Mizuho Securities | Maheep Mandloi | $362 | $304.53 | +86.8% | Mar 2, 2026 |
| Truist Financial | Jamie Cook | $356 | $305.23 | +83.7% | Mar 2, 2026 |
| Wolfe Research | Steve Fleishman | $326 | $298.02 | +68.2% | Mar 2, 2026 |
| Seaport Global | Analyst unavailable | $330 | $298.02 | +70.3% | Feb 27, 2026 |
| Barclays | Analyst unavailable | $260 | $242 | +34.2% | Jan 23, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $274 | $244.57 | +41.4% | Jan 23, 2026 |
| KeyBanc | Sangita Jain | $264 | $236.35 | +36.2% | Jan 7, 2026 |
| Truist Financial | Analyst unavailable | $270 | $215.86 | +39.3% | Dec 18, 2025 |
| Truist Financial | Analyst unavailable | $253 | $204.79 | +30.6% | Nov 3, 2025 |
| Mizuho Securities | Maheep Mandloi | $254 | $204.16 | +31.1% | Nov 3, 2025 |
| Mizuho Securities | Maheep Mandloi | $244 | $211.21 | +25.9% | Oct 28, 2025 |
| Barclays | Analyst unavailable | $240 | $201.86 | +23.9% | Oct 20, 2025 |
| KeyBanc | Analyst unavailable | $236 | $201.86 | +21.8% | Oct 20, 2025 |
| Guggenheim | Analyst unavailable | $215 | $205.38 | +11.0% | Oct 15, 2025 |
| Stifel Nicolaus | Brian Brophy | $237 | $218.92 | +22.3% | Oct 9, 2025 |
| Truist Financial | Jamie Cook | $248 | $212.98 | +28.0% | Oct 8, 2025 |
| Jefferies | Analyst unavailable | $252 | $214.31 | +30.1% | Oct 1, 2025 |
| UBS | Analyst unavailable | $252 | $211.48 | +30.1% | Oct 1, 2025 |
| Wolfe Research | Analyst unavailable | $227 | $193.35 | +17.1% | Sep 17, 2025 |
| Mizuho Securities | Maheep Mandloi | $215 | $179.5 | +11.0% | Sep 4, 2025 |
| Truist Financial | Analyst unavailable | $209 | $177.93 | +7.9% | Aug 4, 2025 |
| D.A. Davidson | Analyst unavailable | $210 | $177.93 | +8.4% | Aug 4, 2025 |
| Truist Financial | Jamie Cook | $184 | $143.57 | -5.0% | May 5, 2025 |
| Piper Sandler | Kashy Harrison | $175 | $143.57 | -9.7% | May 5, 2025 |
| KeyBanc | Sangita Jain | $163 | $143.57 | -15.9% | May 5, 2025 |
| Barclays | Analyst unavailable | $145 | $123.89 | -25.2% | Mar 4, 2025 |
| Guggenheim | Joseph Osha | $195 | $146.41 | +0.6% | Jan 8, 2025 |
| Truist Financial | Jamie Cook | $173 | $136.54 | -10.7% | Nov 5, 2024 |
| D.A. Davidson | Brent Theilman | $160 | $132.61 | -17.4% | Nov 4, 2024 |
| Citigroup | Andrew Kaplowitz | $150 | $128.2 | -22.6% | Oct 22, 2024 |
| B.Riley Financial | Alex Rygiel | $151 | $125.38 | -22.1% | Oct 16, 2024 |
| Stifel Nicolaus | Brian Brophy | $121 | $101.09 | -37.6% | Aug 5, 2024 |
| B.Riley Financial | Alex Rygiel | $132 | $111.39 | -31.9% | May 31, 2024 |
| KeyBanc | Sangita Jain | $120 | $106.53 | -38.1% | May 13, 2024 |
| D.A. Davidson | Brent Thielman | $120 | $105.81 | -38.1% | May 7, 2024 |
| Craig-Hallum | Christian Schwab | $125 | $106.08 | -35.5% | May 6, 2024 |
| Stifel Nicolaus | Brian Brophy | $120 | $101.8 | -38.1% | May 6, 2024 |
| B.Riley Financial | Alex Rygiel | $120 | $106.08 | -38.1% | May 6, 2024 |
| KeyBanc | Sangita Jain | $113 | $101.8 | -41.7% | May 6, 2024 |
| Robert W. Baird | Andrew Wittmann | $110 | $101.8 | -43.2% | May 6, 2024 |
| Truist Financial | Jamie Cook | $96 | $86.7 | -50.5% | Mar 13, 2024 |
| Robert W. Baird | Andrew Wittmann | $105 | $84.85 | -45.8% | Mar 4, 2024 |
| Craig-Hallum | Christian Schwab | $96 | $87.68 | -50.5% | Mar 4, 2024 |
| Credit Suisse | Jamie Cook | $102 | $71.7 | -47.4% | Jul 26, 2022 |
| Craig-Hallum | Analyst unavailable | $87 | $69.76 | -55.1% | Jul 26, 2022 |
| Citigroup | Analyst unavailable | $92 | $68.36 | -52.5% | Jul 26, 2022 |
| D.A. Davidson | Analyst unavailable | $105 | $75.1 | -45.8% | May 9, 2022 |
| Stifel Nicolaus | Noelle Dilts | $125 | $115.55 | -35.5% | May 10, 2021 |
Track every rating change on MTZ the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationMasTec, Inc. is a leading infrastructure construction firm that delivers a comprehensive suite of services, encompassing engineering, construction, installation, maintenance, and enhancement. The company primarily serves the communications, energy, utility, and broader infrastructure sectors throughout the United States and Canada. Its operations are structured across distinct segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other. MasTec's construction activities involve building intricate underground and overhead distribution systems, essential for wireless and fiber-optic communication networks, as well as electrical grids. The company also develops clean energy infrastructure, including renewable energy facilities; pipelines for natural gas and other products, alongside extensive electrical and gas transmission and distribution systems.…
Historical context
All MTZ earningsIndustrials peers this season
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|---|---|---|---|---|
| RYAAY Ryanair Holdings plc | FY2027 Q2 · Calendar Q4 2026 | — | +4.8% | Ryanair weighs fuel-cost pressure against fare strength and cost controls |
| GD General Dynamics Corporation | FY2026 Q3 · Calendar Q4 2026 | +9.0% | +0.5% | General Dynamics raises outlook as orders and backlog surge |
| RBC RBC Bearings Incorporated | FY2027 Q2 · Calendar Q4 2026 | +5.9% | -6.8% | RBC Bearings: Strong Q2, capacity investment supports second half |
| CNI Canadian National Railway Company | FY2026 Q3 · Calendar Q4 2026 | +3.4% | -0.3% | CN posts strong Q3, maintains EPS outlook and expands Mexico strategy |
| NVT nVent Electric plc | FY2026 Q3 · Calendar Q4 2026 | +8.6% | -8.8% | nVent raises outlook as data-center demand and Maverick broaden growth |
| IR Ingersoll Rand Inc. | FY2026 Q3 · Calendar Q4 2026 | +18.5% | +0.2% | Ingersoll Rand raises FY2026 outlook as orders accelerate |
Latest beats and misses
Who reports nextBeat on EPS
- SNYFY2026 Q3 · October 30, 2026+30.8% EPS+2.8% move
- CHDFY2026 Q3 · October 30, 2026+2.2% EPS+1.2% move
- AZNFY2026 Q3 · October 30, 2026+7.3% EPS+7.0% move
- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
Missed on EPS
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- PINSFY2026 Q3 · October 29, 2026-5.4% EPS-2.8% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
Get the MTZ recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-02T20:50:45.980676+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-02T20:50:45.977994+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-02. For educational purposes only; not investment advice.