MASTEC INC
For the period ended Sep 30, 2025. Filed Oct 30, 2025.
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Sep 30, 2025 · Filed Oct 30, 2025
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Earnings Per Share
Note 2 –Earnings Per Share
Basic earnings or loss per share is computed by dividing net income or loss attributable to MasTec by the weighted average number of common shares outstanding for the period, which excludes non-participating unvested restricted share awards. Diluted earnings per share is computed by dividing net income attributable to MasTec by the weighted average number of fully diluted shares, as calculated primarily under the treasury stock method, which includes the potential effect of dilutive common stock equivalents, such as issued but unvested restricted shares.
The following table provides details underlying the Company’s earnings per share calculations for the periods indicated (in thousands):
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Net income attributable to MasTec: | ||||
| Net income - basic and diluted | $160,660 | $95,240 | $256,329 | $88,048 |
| Weighted average shares outstanding: | ||||
| Weighted average shares outstanding - basic | 77,702 | 78,044 | 77,857 | 78,004 |
| Dilutive common stock equivalents (a) | 946 | 869 | 815 | 797 |
| Weighted average shares outstanding - diluted | 78,648 | 78,913 | 78,672 | 78,801 |
(a) For the three months ended September 30, 2025 and 2024, anti-dilutive common stock equivalents totaled approximately 1,000 and 3,000, respectively, and for the nine months ended September 30, 2025 and 2024, such shares totaled approximately 12,000 and 171,000, respectively.
Share Repurchases. For the nine months ended September 30, 2025, the Company repurchased 702,533 shares of its common stock, the effect of which on the Company’s weighted average shares outstanding for the period was a reduction of approximately 483,000 shares. See Note 8 – Stockholders' Equity for details of the Company’s share repurchase transactions.
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