MasTec: 3 Key Takeaways for Long-Term Investors

MasTec reported record Q3 2026 revenue of $5.15 billion and a $24.5 billion backlog, driven by surging demand in power delivery and data center infrastructure. The Power Delivery segment achieved a record $8.9 billion backlog with 12 consecutive quarters of expansion, while gas power generation projects worth over $1 billion received notices to proceed. Pipeline permitting delays shifted some revenue into 2027 but did not impact underlying profitability, providing clear visibility into next year's earnings.