MasTec, Inc.

CORAL GABLES, Fla.--(BUSINESS WIRE)--MasTec, Inc. (“MasTec” or the “Company”) (NYSE: MTZ) today announced that it is suspending late stage negotiations of a large potentially accretive acquisition opportunity in order to prioritize the repurchase of shares. The Company has an existing $250 million board authorization for share repurchases, the full amount of which is available. This announcement does not obligate MasTec to repurchase any particular amount of common stock during any period and t.

MasTec's Q3 earnings highlight surging Power Delivery demand and a record $24.5B backlog, while pipeline delays and margin pressures shape its 2027 outlook.

Third quarter revenue rose 30% year over year to $5.15 billion. Backlog reached an all-time record of $24.5 billion in the third quarter.

MasTec NYSE: MTZ reported record third-quarter results for 2026, led by growth in its power delivery and Clean Energy and Infrastructure businesses, while management said permitting delays in pipeline infrastructure and softer near-term communications spending created pressure in other areas.