MasTec, Inc.
MasTec, Inc. Q2 FY26 Results — Earnings Call Analysis
Q2 FY26 earnings call: what management said on revenue, margins and capex.
What the Q2 FY26 call signalled
4 of 4 strong
The short version
- Strong organic growth momentum continuing into 2026 and beyond, with 22% year-over-year revenue growth guidance for 2026, reaching $17.5 billion. - 2026 adjusted EPS forecast is $8.79, a 34% year-over-year increase and 5% ahead of prior guidance.
From MasTec, Inc.'s Q2 FY26 earnings-call transcript · updated 29 May 2026.
Revenue & Sales Performance
- Strong organic growth momentum continuing into 2026 and beyond, with 22% year-over-year revenue growth guidance for 2026, reaching $17.5 billion.
- Backlog increased by $1.4 billion in Q1 alone, showing sustained demand and strong visibility into future projects.
- Power delivery and Clean Energy & Infrastructure segments expected to drive significant revenue growth, with renewables showing a 63% revenue increase year-over-year.
- Pipeline business poised for notable upside in 2027 and beyond, with historical highs in revenue anticipated.
- Continued growth supported by expanding workforce and resource allocation aligned to market demand.
- CapEx increased modestly to support growth, focusing on fixed assets and organic expansion.
2 more points from MasTec, Inc.'s call on revenue
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Profitability & Margins
See what MasTec, Inc. said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Capital expenditures (CapEx) have ticked up slightly to support additional growth in 2026 and beyond.
- The primary focus of capital allocation is supporting organic growth, particularly fixed assets.
- CapEx remains relatively low compared to historical levels, showing efficient capital intensity.
- The company is prioritizing capital deployment toward growth opportunities rather than just adding capacity.
- Net cash CapEx forecast increased to about $220 million to support the higher revenue growth.
- Expect more strategic investments, including increased M&A activity targeting bolt-on acquisitions focused on expanding existing segments and geographic reach.
2 more points from MasTec, Inc.'s call on capex
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Fundraising & Capital Structure
See what MasTec, Inc. said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Backlog in 2025 increased by about $4.5 billion; an additional $1.4 billion added in Q1 2026.
- Last two quarters saw approximately $3.5 billion increase in backlog.
- Clean Energy and Infrastructure backlog reached a record $7.3 billion with a book-to-bill ratio of 1.6x.
- Pipeline backlog is currently down, but visibility for 2027 and beyond is strong with expectations of significant growth.
- Approximately $4 billion of projects under Letter of Non-Triggering Provision (LNTP) in the Clean Energy segment remains steady or slightly increased.
2 more points from MasTec, Inc.'s call on order book
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Continue your research
Others in Construction and Engineering this season
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APi Group Corporation Q2 FY26 quarterly results analysis. Mid- to upper single-digit organic revenue growth expected consistently in the Safety Services segment
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Sterling Infrastructure, Inc. Q2 FY26 quarterly results analysis. 2026 revenue guidance increased to $3.7–$3.8 billion, representing over 50% growth from 2025.
- EMCOR Group, Inc. (Q2 FY26)
EMCOR Group, Inc. Q2 FY26 quarterly results analysis. EMCOR expects continued strong demand across key market sectors, particularly data centers, water/wastewat
- Ferrovial N.V. (Q2 FY26)
Ferrovial N.V. Q2 FY26 quarterly results analysis. Construction backlog remains healthy with an all-time high order book of EUR 17.6 billion, supporting future
Potential multibaggers · Q2 FY27
This quarter's potential multibaggers
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were MasTec, Inc. Q2 FY26 results?
- Strong organic growth momentum continuing into 2026 and beyond, with 22% year-over-year revenue growth guidance for 2026, reaching $17.5 billion. - 2026 adjusted EPS forecast is $8.79, a 34% year-over-year increase and 5% ahead of prior guidance.
What is MasTec, Inc. share price analysis?
MasTec, Inc. currently shows a moderate growth signal based on ranking data. The stock trades at a P/E of 68.7 with a market cap of $30,290. Investors should review the full earnings analysis for detailed insights.
Is MasTec, Inc. planning capital expenditure?
- Capital expenditures (CapEx) have ticked up slightly to support additional growth in 2026 and beyond.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.