MasTec (MTZ) investor relations material

Macro environment and business drivers

• Strong multi-year demand across power delivery, clean energy, pipeline infrastructure, and communications segments, enabling robust investment cycles and collaborative planning with customers.

• Data center build-out and AI are major growth drivers, impacting construction, power, and communications needs, with significant opportunities in facility construction and interconnectivity.

• Electrification trends, including heating, fleets, and reindustrialization, are increasing electricity demand for the first time in decades.

Segment outlooks and growth opportunities

• Transmission projects are moving into construction after long permitting delays, with billions in opportunities expected through 2026 and beyond.

• Communications growth is shifting from wireless to wireline, driven by fiber deployment, data center interconnectivity, and government programs like BEAD, with strong organic growth expected.

• Pipeline infrastructure is entering a new upcycle, with customer sentiment turning bullish and backlog growth accelerating, especially for gas to support power generation.

• Clean energy and renewables segments show stable growth, with sophisticated clients maintaining robust, safe-harbored project pipelines through 2026.

• Civil infrastructure and industrial segments are healthy, with a focus on balanced risk and disciplined project selection to ensure strong returns.

Operational and margin strategies

• Margin expansion is targeted through improved execution, productivity, and systematic access to real-time data at the crew level.

• High single-digit EBITDA margins are forecast for this year, with a near-term goal of double-digit margins in power delivery.

• Organic growth is strong in communications, power delivery, and clean energy, with double-digit growth in the first half of the year.

• Focus remains on balancing growth with risk management and extracting more value from existing projects.