MasTec Reports Record $5.15 Billion Q3 Revenue and $24.5 Billion Backlog
MasTec (MTZ) reported record third-quarter 2026 revenue of $5.15 billion, driven by significant demand in utility power delivery and data center infrastructure. The company's Power Delivery segment saw its backlog reach $8.9 billion, marking 12 consecutive quarters of growth with an organic book-to-bill ratio exceeding 1.5x. While permitting issues caused delays in several pipeline projects—shifting some revenue from late 2026 into the first half of 2027—management emphasized that contract profitability remains intact. Additionally, the company secured over $1 billion in pending gas power generation projects that are expected to convert to formal backlog in upcoming quarters.
Tickers: $MTZ
Topics: Backlog Expansion Infrastructure Demand Natural Gas Generation Revenue Growth Utility Power Delivery