The infrastructure firm raised its 2026 outlook despite lowering its Communications segment forecast amid strong Q2 performance.
MasTec set a 2026 revenue target of $18.2 billion and earnings per share of $9.30, reflecting confidence in growth despite a reduced outlook for its Communications segment. The company reported Q2 2026 revenue of $4.374 billion, a 23% year-over-year increase, driven by strong demand across its core markets.
Backlog at quarter-end reached $21.4 billion, with a book-to-bill ratio exceeding 1.2x, signaling robust future project pipelines. CEO Jose Mas stated the company is on track for a record year, though the Communications segment adjustment tempered some expectations.
The updated guidance follows a quarter of solid execution, with management emphasizing operational efficiency and backlog conversion as key drivers for the remainder of 2026.