MasTec, Inc.

Filing receipts

“Organic general and administrative expenses also increased by approximately $42 million, or 25%, as compared with the same period in 2025, primarily due to an increase in compensation expense, including stock-based compensation and insurance to support business growth, a $10 million increase from changes in the fair value of contingent consideration payable to former owners of an acquired business, approximately $1 million of an increase from changes to estimated Earn-out accruals, and a decrease in net gains on asset sales.”

“The increase was due primarily to (i) an increase in net income as compared with the prior period; and (ii) changes in working capital compared with the prior period, including from the positive effect of timing-related changes in accounts payable and accrued expenses, offset, in part, by the unfavorable effect of timing-related changes in accounts receivable, net, primarily driven by higher levels of revenue and an increase in DSO.”

“As a percentage of revenue, EBITDA increased by approximately 50 basis points, or $6 million, due to a combination of project mix, improved productivity and efficiencies, primarily from certain renewable and general building project work.”