Mastec

Q3 FY2026 EarningsQ3 FY26 results beat consensus on both top and bottom lines: revenue $5.15B vs. $4.94B expected, and normalized EPS $2.96 vs. $2.96 (mean) but notably $1.89 GAAP EPS was affected by acquisition costs. The Power Delivery segment was the primary driver of the beat, with revenue surging 65% YoY and EBITDA margins expanding by 380 bps. Despite strong demand in Data Centers and Renewables, the Communications segment saw an 11.8% revenue decline and significant margin pressure due to project timing and restructuring. 18-month backlog reached a record $24.5B, up 46% YoY, largely driven by the Superior Group acquisition and organic expansion in Clean Energy.