MasTec Q4 2024 Earnings Report
Key Takeaways
MasTec delivered strong Q4 2024 results, reporting revenue of $3.4 billion, a 3.8% increase year-over-year. The company achieved GAAP net income of $84.7 million and adjusted net income of $124 million, highlighting improved profitability. Adjusted EBITDA stood at $270.9 million, with a margin improvement of 110 basis points. The company ended the quarter with a record $14.3 billion backlog, reflecting continued demand in its key business segments.
Total revenue increased 3.8% YoY to $3.4 billion.
GAAP EPS was $0.95, while adjusted EPS reached $1.44.
Adjusted EBITDA improved to $270.9 million, with an 8.0% margin.
Backlog reached a record $14.3 billion, reflecting strong future demand.
MasTec Revenue
MasTec EPS
MasTec Revenue by Segment
Forward Guidance
MasTec expects continued revenue and earnings growth in 2025, driven by strong demand across its core business segments.
Positive Outlook
- Full-year 2025 revenue expected to reach $13.45 billion, a 9% YoY increase.
- GAAP net income projected between $327M and $366M.
- Adjusted EPS forecasted between $5.35 and $5.84.
- Adjusted EBITDA expected in the range of $1.10B to $1.15B.
- Continued backlog growth supports long-term revenue visibility.
Challenges Ahead
- Potential project delays due to permitting and regulatory challenges.
- Macroeconomic uncertainties could impact infrastructure investments.
- Rising interest rates may affect financing costs and customer spending.
- Supply chain disruptions could impact material availability and costs.
- Competitive pricing pressures may challenge margin expansion efforts.