The massive beat and raised guidance confirm strong execution and demand. Watch the earnings call for further color on margins and capex; the stock likely rallies on the news. Consider adding to positions given the raised outlook and record backlog.
Price Chart
Executive Summary
MasTec reported a massive Q1 2026 beat, with revenue of $3.83B (+34% YoY) and adjusted diluted EPS of $1.39 (+174% YoY), far exceeding its own guidance and Street consensus of $0.90. Full-year 2026 guidance was raised to $17.5B revenue and $8.79 adjusted EPS, reflecting strong demand across all segments, especially Pipeline and Clean Energy.
Key Financial Metrics
Key Facts
- Q1 2026 revenue of $3.83B (+34% YoY) beat guidance of $3.475B; adjusted EPS of $1.39 beat Street consensus of $0.90.
- Record 18-month backlog of $20.3B, up $4.4B YoY and $1.4B sequentially.
- Full-year 2026 revenue guidance raised to $17.5B (from $17.0B) and adjusted EPS to $8.79 (from $8.40), implying 22% revenue growth and 30% adjusted EBITDA growth.
- All four segments delivered double-digit revenue growth: Pipeline +91%, Clean Energy +45%, Communications +18%, Power Delivery +16%.
- Adjusted EBITDA margin improved 170 bps to 7.4% despite costs to exit certain install-to-the-home markets.
- Operating cash flow was $99M, but FCF was only $12M due to elevated capex of $97M.
Financial Impact
Q1 revenue beat by $354M vs guidance; adjusted EPS beat by $0.49 vs Street consensus of $0.90. Full-year guidance increase implies ~$500M incremental revenue and ~$0.39 incremental adjusted EPS vs prior guidance.
Risk Factors
- Elevated capex ($97M) pressured free cash flow; investment cycle may limit near-term FCF.
- Macro risks from tariffs, inflation, and policy changes could impact project timing.
- Segment margins vary; Communications EBITDA margin slipped 100 bps YoY due to market exit costs.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000015615-26-000052 |
| Document: mtz-20260430.htm | 0000015615-26-000052 |
| Document: 0000015615-26-000052-index-headers.html | 0000015615-26-000052 |
| Document: 0000015615-26-000052-index.html | 0000015615-26-000052 |
| Document: 0000015615-26-000052.txt | 0000015615-26-000052 |
| 8-K Data (Synthetic) | 0000015615-26-000052 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 10, 2026 7w ago | 8-K | $272.65 $240.68 | ▼ −11.73% | ▼ −10.67% | $215.87 (−20.83%) |
Aug 10, 2026 7w ago | 424B5 | $272.65 $240.68 | ▲ +11.73% | ▲ +10.67% | $215.87 (+20.83%) |
Jul 20, 2026 10w ago | 8-K | $351.40 $280.13 | ▼ −20.28% | ▼ −22.84% | $215.87 (−38.57%) |
Jul 7, 2026 12w ago | 8-K | $382.90 $266.75 | ▼ −30.33% | ▼ −33.61% | $215.87 (−43.62%) |
May 28, 2026 18w ago | Court Ruling | $383.33 $396.25 | ▲ +3.37% | ▲ +6.76% | $215.87 (−43.69%) |
May 28, 2026 18w ago | Court Ruling | $383.33 $396.25 | ▲ +3.37% | ▲ +6.76% | $215.87 (−43.69%) |
Apr 30, 2026 22w ago | 8-K | $417.41 $362.09 | ▼ −13.25% | ▼ −18.54% | $215.87 (−48.28%) |
US Market Status
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