MMasTec is a North American infrastructure engineering and construction company focused on energy, utility, and communications networks. It engineers, builds, installs, maintains, and upgrades power plants, renewable energy facilities, and related infrastructure, and helps clients with site selection, sizing, materials, and construction planning. It differentiates itself by its large workforce, end-to-end capabilities across engineering, construction, maintenance, and upgrades, and its sector focus on utilities, communications, and government clients, including natural gas and renewable energy facilities. Its goal is to deliver reliable, safe, and efficient infrastructure that supports energy delivery, connectivity, and the expansion of renewable energy capacity.
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Industries
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Coral Gables, FL
Founded
1929
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Total Funding
$4.6B
Above
Industry Average
Funded Over
5 Rounds
Gritt and MasTec partner to bring physical AI to solar construction sites. Gritt has announced a partnership with MasTec, one of North America's leading infrastructure builders, to deploy its AI-powered systems across MasTec Renewables projects and plans to explore applications in additional infrastructure sectors. Gritt develops intelligence for physical construction work and deploys it through robotic attachments to common construction equipment to help crews work more safely, efficiently and productively. Gritt is developing general-purpose construction intelligence designed to work across tasks, equipment configurations and job site conditions. Its AI learns physical tasks, including picking and placing, assembly and material transport, while craft employees guide and validate the work. Gritt systems have operated in conditions ranging from rain-soaked fields to deserts and snowy plains. Beyond performing physical work, the technology monitors job site activity to help inform planning and decision-making. Rob Turner, vice president of construction at MasTec Renewables, says: "Its craft workforce brings the skill and experience that make large-scale infrastructure possible. Its focus is on giving its people the tools to do that work safely and effectively. "We've evaluated Gritt systems on active construction sites, and we see an opportunity to pair our teams' expertise with technology that supports them in the field." The partnership follows successful field deployments and MasTec Renewables' extensive evaluation of Gritt's systems through the installation of megawatts of solar panels on active job sites. The companies will expand their work together through a pipeline of projects, initially focused on MasTec's growing utility-scale solar portfolio across multiple states. Puneet Puri, co-founder and CEO of Gritt, says: "MasTec knows what it takes to deliver critical infrastructure at tremendous scale. "Together, we are putting construction intelligence to work on construction sites, with the ambition to transform how quickly the world can build. Every deployment is an opportunity to make our systems more capable, and MasTec's craft expertise and project experience make it an ideal partner as we bring that vision into the field."
MasTec (NYSE: MTZ) has halted late-stage talks on a large acquisition to focus on buying back its own shares. Management called the deal potentially accretive but is directing capital to buybacks under its current allocation priorities. The company has a $250 million repurchase authorisation. It reported sales of $5.15 billion in the third quarter of 2026 and nine-month net income of $341.52 million. MasTec, which has a market cap of $12.6 billion, runs engineering and construction projects for communications, energy, and utility clients across the US and Canada. Its backlog stands at about $21.4 billion. Investors will watch whether 2026 GAAP diluted earnings per share land between $5.69 and $6.01, and whether buybacks are funded by operating cash flow.
MasTec reported record third-quarter 2026 revenue of $5.15 billion and a backlog of $24.5 billion, driven by demand for utility power delivery and data center infrastructure. The company announced the results on its earnings call on October 30, 2026. Power Delivery backlog rose to $8.9 billion, the 12th straight quarterly increase. Organic book-to-bill for the segment was 1.5x. MasTec has received limited notices to proceed on gas power generation projects worth more than $1 billion. It expects them to move into backlog over the next few quarters. Permitting delays of about 60 days slowed third-quarter revenue. Chief executive officer Jose Mas said the work has not gone away and will shift into 2027.
MasTec (NYSE:MTZ) reported record third-quarter results, driven by its power delivery and clean energy businesses. Revenue rose 30% year on year to $5.152 billion, and adjusted EBITDA rose 30% to $486 million. Adjusted earnings per share grew 19% to $2.96. Backlog reached a record $24.5 billion, up more than $7 billion from a year earlier. Power delivery revenue jumped 65%, while Clean Energy and Infrastructure revenue rose 34%. Permitting delays pushed some pipeline work into 2027, and communications customers put off spending decisions. MasTec reiterated its target of more than $1 billion in operating cash flow for 2026.
MasTec shares fell 2.9% in after-hours trading Thursday after the infrastructure contractor posted third-quarter adjusted earnings per share of $2.96, just below the $2.97 consensus. Revenue hit a quarterly record of $5.2 billion, up 30% from $4.0 billion a year earlier and ahead of the $4.94 billion estimate. Power Delivery revenue rose 65% to $1.8 billion, helped by the July acquisition of The Superior Group. Communications revenue fell 12% to $807 million as customers deferred spending. Chief executive officer Jose Mas said permitting delays on certain Pipeline projects hurt margins, though construction has begun. MasTec expects full-year adjusted EPS of $8.92 to $9.30, with a midpoint below the $9.27 consensus. It forecasts 2026 revenue of $18.3 billion, and its 18-month backlog reached a record $24.5 billion, up 46%.
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Industries
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Coral Gables, FL
Founded
1929
Find jobs on Simplify and start your career today
Don't see your dream role? Check out thousands of other roles on Simplify.Browse all jobs