MasTec Inc 2025年度报告
800 S. Douglas Road, 12th FloorCoral Gables, Florida 33134(305) 599-1800
April 9, 2026
Dear Fellow Shareholders:
I could have asked any of the artificial intelligence “AI” platforms to write this letter on my behalf,a thought that would not have even occurred to me as recently as last year when I sat down to pen myannual letter to our shareholders. As a matter of fact, in just these past few months I have relied on AI tobook my business trips, help me manage my calendar, and respond to the daily deluge of emails I receive.The speed at which AI is evolving and transforming our lives is unprecedented. That said, what AI cannotdo, and I suspect it may never be able to do, is the incredible work that the more than 35,000 MasTec teammembers executed in 2025. We constructed over 15,000 miles of telecommunications networks, laid over1,000 miles of oil and gas pipelines, strung or buried more than 14,000 miles of power transmission anddistribution lines, and installed more than 3.6 gigawatts of renewable energy. At MasTec we build theenergy and telecommunications backbone that make AI a reality.
Our 2025 results speak for themselves. Revenue grew by 16% to $14.3 billion, Net Income grewby 112% to $422 million, Adjusted EBITDA grew by 14% to $1.2 billion, and our 18-month backlogstood at $19.0 billion at year end.1
Once again, we are raising the bar in 2026 because, as I say every year, when it comes to success,we are never satisfied. We will strive to continue to exceed your expectations and to set new operatingrecords, while maintaining our enduring core values of family, integrity and hard work. At MasTec, wealways believe that the best is yet to come.
Once again, thank you for your continued support.
Sincerely,
Jorge MasChairman of the BoardMasTec, Inc.
*# )())((*' ) (#- # $"" (( $#,1B89=7C>= 777777777777777777777777777777777777777777777
>A<
)8IB+E<##*! '%$') %*'(*#) )$ () $# $'4 $ ) (*' ) (
- # )$
>AC8569B31;H51A5=454535<25A $'
)'#( ) $#'%$')%*'(*#))$() $# $' 4$) (*' ) (- # )$
>AC85CA1=B9C9>=?5A9>46A><00C>00
><<9BB9>=9;5#D<25A 777777777777777777777777777777777777777777777
"1B)53 =3
@)+<6)5-7.:-/1;<:)6<);;8-+1.1-,161<;+0):<-:
"<)<-7:7<0-:2=:1;,1+<1767.16+7:87:)<1767:7:/)61B)<176
(53DA9C95BA579BC5A54?DABD1=CC>(53C9>=7>6C853C#>=5
%E;@:8K<9P:?<:BD8IB@=K?<I<>@JKI8EK@J8N
