MasTec Q2 Revenue Surges 23% to $4.4B; Backlog Hits $21.4B; Superior Acquisition Closed
MTZ sits 67% above its 52-week low of $160.08 on elevated volume (2.0× avg).
Summary
MasTec reported Q2 2026 revenue of $4.37 billion, up 23% year-over-year, with net income surging 52%. Backlog reached a record $21.4 billion. The company also closed the $1.6 billion acquisition of Superior, a data-center electrical contractor, in July.
Key Events · Earnings and Guidance · MTZ
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Q2 Revenue and Earnings Surge
Revenue of $4.37 billion grew 23% year-over-year, while net income attributable to MasTec of $130.1 million jumped 52%. Diluted EPS of $1.65 beat the prior year's $1.09 by 51%.
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Record Backlog of $21.4 Billion
18-month backlog reached $21.4 billion as of June 30, 2026, up 30% from $16.5 billion a year ago, driven by strength in Clean Energy and Infrastructure and Power Delivery segments.
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Superior Acquisition Closed in July
MasTec completed the $1.6 billion acquisition of The Superior Group, a premier electrical contractor focused on data centers, funded with $1.2 billion in cash and 1.2 million shares. The deal adds scale in a high-growth infrastructure niche.
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Debt Financing for Superior
To fund the acquisition, MasTec amended its credit facility to $2.25 billion and entered a new $700 million delayed-draw term loan. Pro forma leverage increases but remains within covenant limits.
Analysis · MTZ · Real Estate & Construction
A standout quarter for MasTec saw revenue climb 23% and net income jump 52%, fueled by broad-based strength across all segments. The $21.4 billion backlog—up 30% year-over-year—provides exceptional visibility into future work. Closing the $1.6 billion Superior acquisition in July adds a premier electrical contractor focused on data centers, a high-growth end market. The deal was funded with a mix of cash, stock, and new debt, which increases leverage but also expands the addressable market. These results and the record backlog suggest the infrastructure spending cycle remains robust, and the raised guidance earlier this month already signaled confidence. This filing confirms the numbers and provides detailed segment performance along with the balance sheet impact of the Superior deal.
At the time of this filing, MTZ was trading at $268.00 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $25.6B. The 52-week trading range was $160.08 to $441.43. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.