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Dec 31, 2024
MasTec Q4 2024 Earnings Report
MasTec reported record Q4 2024 revenue of $3.4 billion, with significant earnings growth and a strong backlog.
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
MasTec
MasTec Revenue by Segment
Revenue by Segment
Communications Revenue
CapyFin.comClean Energy & Infra Revenue
CapyFin.comPower Delivery Revenue
CapyFin.comPipeline Infrastructure Revenue
CapyFin.comEliminations Revenue
CapyFin.com 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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income