MasTec said October 29 that third-quarter revenue rose 29.9% to $5.152 billion, while diluted earnings fell to $1.89 a share from $2.04 a year earlier.
The infrastructure contractor reported GAAP net income of $167.7 million and adjusted diluted earnings of $2.96 a share. Adjusted results exclude specified costs and are separate from its GAAP accounts.
Power Delivery revenue increased 65.2%. MasTec attributed strength to its existing operations and the recently acquired Superior Group. Communications revenue fell 11.8%; management said some customers deferred spending.
The company said permitting-related access delays left pipeline crews and equipment underused, affecting margins. Construction has begun on those projects, but management expects some revenue and earnings to shift into 2027.
MasTec forecast 2026 GAAP diluted earnings of $5.69–$6.01 a share and adjusted diluted earnings of $8.92–$9.30. These are company projections, subject to project timing and other risks.
Sources: MasTec earnings release, distributed by Business Wire: https://www.financialcontent.com/article/bizwire-2026-10-29-mastec-reports-third-quarter-2026-results-and-updates-full-year-2026-financial-guidance