MasTec closes $1.6B Superior acquisition; backlog +30% to $21.4B as bonded capacity surges

Filed July 30, 2026 · Period ending June 30, 2026 · Compared to 10-Q Jul 31, 2025 · ~2 min read

Key Changes

• high

  Completed acquisition of Superior (data center electrical contractor, ~3,000 employees) for ~$1.6B ($1.2B cash, $410.5M stock) in July 2026, funded via new $700M term loan and $580M revolver draw; Credit Facility capacity increased from $1.9B to $2.25B.

  MD&A: Superior acquisition verify on EDGAR →
• high

  18-month backlog rose 30% YoY to $21.4B (Clean Energy +58%, Power Delivery +25%, Pipeline +23%); outstanding performance bonds surged $4.9B to $13.4B, with estimated costs to complete bonded projects more than doubling to $5.3B.

  MD&A: Backlog; Legal: Bonding capacity verify on EDGAR →
• high

  Operating income +43% YoY to $226.2M (5.2% margin) on 23.4% revenue growth to $4.4B; Pipeline Infrastructure EBITDA margin expanded from 11.5% to 18.4%, Clean Energy margin improved from 7.4% to 7.9%.

  MD&A: Operating income verify on EDGAR →