MasTec — Jul 24, 2026 release

For the Year Ended December 31, 2025 For the Year Ended December 31, 2024 Net income $ 539 3.0% $ 422.0  3.0  % $ 199.4  1.6  % Interest expense, net 205 1.1% 173.0  1.2  % 193.3  1.6  % Provision for income taxes 172  0.9% 93.4  0.7  % 51.5  0.4  % Depreciation  360 2.0% 295.9  2.1  % 366.8  3.0  % Amortization of intangible assets 254 1.4% 131.2  0.9  % 139.9  1.1  % EBITDA $ 1,531  8.4% $ 1,115.5  7.8  % $ 950.8  7.7  % Non-cash stock-based compensation expense 42 0.2% 34.0  0.2  % 32.7  0.3  % Loss on extinguishment of debt — —  % —  —  % 11.3  0.1  % Changes in fair value of acquisition-related contingent items 19 0.1% 0.7  0.0  % 10.7  0.1  % Impairments of equity method investments 8 0.0  % —  —  % —  —  % Adjusted EBITDA $  1,600  8.8% $ 1,150.1  8.0  % $ 1,005.6  8.2  % Supplemental Disclosures and Reconciliation of Non-GAAP Disclosures (unaudited - in millions, except for percentages and per share information) Adjusted Net Income Reconciliation Guidance for the Year Ended December 31, 2026 Est. For the Year Ended December 31, 2025 For the Year Ended December 31, 2024 Net income $  539 $ 422.0  $ 199.4  Adjustments: Non-cash stock-based compensation expense 42 34.0  32.7  Amortization of intangible assets 254 131.2  139.9  Loss on extinguishment of debt — —  11.3  Changes in fair value of acquisition-related contingent items 19 0.7  10.7  Impairments of equity method investments 8 —  —  Total adjustments, pre-tax $ 323 $ 165.9  $ 194.6  Income tax effect of adjustments (a) (78) (44.7) (44.8) Statutory and other tax rate effects (b) — (5.0) (0.9) Adjusted net income $  785 $ 538.2  $ 348.3  Net income attributable to non-controlling interests  47 23.0  36.6  Adjusted net income attributable to MasTec, Inc. $  738 $ 515.2  $ 311.7  Adjusted Diluted Earnings per Share Reconciliation Guidance for the Year Ended December 31, 2026 Est. For the Year Ended December 31, 2025 For the Year Ended December 31, 2024