Movement Alert｜MasTec Rises 5.03% in Regular Trading, Q2 Revenue Beats Estimates with Backlog Growth Accelerating to 30%

Market Focus08-08 02:19

On August 8, MasTec rose 5.03% in regular trading, trading at approximately $271.55/share, with turnover of $186 million. The stock continues to rally following its Q2 earnings release on July 31.

MasTec reported Q2 revenue of $4.373 billion, up 23% year-over-year, beating consensus estimates by 1.6%. Adjusted EPS came in at $2.22, representing a 49% increase from the prior year, narrowly missing the $2.23 estimate. Critically, the company's backlog growth accelerated to 30% year-over-year, reaching $21.4 billion, primarily driven by clean energy and infrastructure segments.

Additionally, MasTec completed its $1.65 billion acquisition of electrical contractor The Superior Group in July, aimed at strengthening data center electrical service capabilities. The acquisition is expected to contribute $800 million to $900 million in revenue for the second half, prompting management to raise full-year revenue growth guidance to a midpoint of 27%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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