MasTec, the Florida-based specialty contractor, is set to take advantage of the growing demand for energy and telecommunications infrastructure, according to its CEO.

Despite investor uncertainty and a shifting regulatory environment, MasTec’s CEO, José Mas, asserted that the company is now better positioned than ever to leverage its diverse portfolio. During the company’s earnings call on February 28, Mas expressed optimism about the future, highlighting strong demand across its sectors.

“I’ve never seen the demand momentum and the number of opportunities for our collective business,” Mas told analysts, adding that he believes a “gas-fired generation renaissance” is on the horizon.

Headquartered in Coral Gables, Florida, MasTec specializes in the engineering, installation, and maintenance of communications, energy, and utility infrastructure, making it well-aligned with President Trump’s executive orders that aim to scale back sustainable energy projects and reduce regulatory hurdles for oil and gas developments in the U.S.

Mas noted that clients across MasTec’s business sectors are already discussing projects that could stretch up to a decade into the future.

“The overarching theme is the unprecedented level of demand on our communication, power delivery, generation, civil and pipeline infrastructure customers,” Mas stated. “In every segment we operate, our customers are facing increased demand for their services.”

Investor Concerns Amid Political Uncertainty

‍However, amid this optimism, Mas acknowledged the concerns that have emerged among investors, particularly in light of the fluctuating political environment. He cited the freezing of funds from the Infrastructure Investment and Jobs Act and the Inflation Reduction Act, as well as potential declines in power demand driven by the rise of artificial intelligence technologies like DeepSeek.

“Obviously, there’s a lot of noise out there. You had the executive order on wind [power]. You’ve got a lot of talk about what’s going to potentially happen with IRA or not. Irrespective of those conversations, and what might come out of that, we’re still incredibly bullish about 2026,” Mas responded to an investor’s question.

Company Performance and Revenue Growth

‍In terms of performance, MasTec posted $3.4 billion in revenues for Q4, reflecting a 4% increase compared to the previous year. The company’s full-year revenue for 2024 amounted to $12.3 billion, marking a 3% rise, as stated in a news release on February 27.

MasTec also saw a significant increase in profit, reporting $74.7 million in Q4, a sharp rise from $753,000 in the same period the year before. For the full year, the company’s profits stood at $162.8 million, recovering from a loss of $49.9 million in 2023.

The company’s clean energy and infrastructure, communications, and power delivery divisions each saw a 21% year-over-year revenue growth.

However, Mas indicated that the pipeline business is expected to decline in 2025, primarily due to the completion of the $7.85 billion Mountain Valley Pipeline project in June, which could lead to a slowdown in large-scale activities.

MasTec reported a backlog of $14.3 billion, a 15% increase from the previous year’s backlog of $12.4 billion. The company is projecting $13.45 billion in revenue for 2025.

“While our financial metrics in 2024 were much improved, we also have the ability to meaningfully improve margins,” Mas concluded. “That opportunity for improvement is actually what I’m most excited about.”

Originally reported by Matthew Thibault in Construction Dive.