On August 5, MasTec rose 5.01% in regular trading, trading at approximately $274.31/share, with turnover of $224 million. The rally follows the company's Q2 earnings release on July 31, which showed revenue and backlog significantly exceeding market expectations.

MasTec reported Q2 revenue of $4.373 billion, up 23% year-over-year and beating the consensus estimate of $4.305 billion by 1.6%. Adjusted EPS came in at $2.22, representing a 49% year-over-year increase, only marginally missing the $2.23 estimate. More notably, the company's backlog surged 30% year-over-year to $21.4 billion, driven primarily by clean energy and infrastructure demand.

Additionally, MasTec completed its $1.65 billion acquisition of electrical contractor The Superior Group in mid-July, a deal designed to bolster its data center infrastructure capabilities amid rising AI-driven demand. Superior is expected to contribute $800 million to $900 million in revenue for the remainder of the year, prompting management to raise full-year revenue growth guidance to a midpoint of 27%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)