MasTec stock posts 23 percent Q2 revenue growth as backlog expands

Published on 09/30/2026 at 06:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

MasTec's Q2 backlog reached USD 21.4 billion, up 30 percent year over year on July 30, 2026. Piper Sandler maintained a Buy rating and set a USD 313.00 target on September 28, 2026.

MTZ, US5763231090, Illustration mit AI erstellt.

MasTec (ISIN US5763231090) reported second-quarter 2026 revenue of USD 4.37 billion, up 23.4 percent year over year, giving MasTec stock a fundamental anchor after a volatile quarter. The company's 18-month backlog reached a record USD 21.4 billion, up 30 percent from the prior year, according to MasTec on July 30, 2026.

Backlog widens the growth base

The Q2 revenue figure exceeded the USD 4.30 billion consensus cited by Zacks, while adjusted EPS of USD 2.22 also exceeded its USD 2.19 consensus estimate. The comparison matters because the company paired current sales growth with a backlog that rose USD 4.9 billion year over year.

MasTec's updated fiscal 2026 guidance calls for USD 18.2 billion in revenue, USD 1.6 billion in adjusted EBITDA and USD 9.30 in adjusted diluted EPS, according to Zacks in its August 3, 2026 report.

Analyst target remains above the quote

Investing.com listed Piper Sandler with a Buy rating and a USD 313.00 price target on September 28, 2026, down from USD 321.00. The target is materially above the USD 210.23 last price on the NYSE at 4:00 p.m. ET on September 29, 2026, but the communications segment remains an execution variable after softer near-term demand.

MasTec's operating mix spans communications, power delivery, pipeline infrastructure and clean energy. The investor-relations page describes the company as an infrastructure engineering and construction group serving communications, energy and utility networks across North America.

Market value and trading context

MasTec had a market capitalization of USD 16.9 billion as of September 29, 2026. Its 52-week range was USD 182.34 to USD 441.43, leaving the latest NYSE quote below the yearly high and close to the lower half of that span.