MasTec (MTZ) shares surged 11.90% during intraday trading on Thursday, extending a sharp pre-market recovery as the broader Construction & Engineering sector staged a powerful rebound ahead of the company's highly anticipated earnings release scheduled for after the market close.

The rally follows a broad-based sell-off in the prior session, when Sterling Construction dropped over 15%, Quanta Services fell nearly 6%, and EMCOR declined 4.85%. Thursday's reversal was equally sweeping, with peers EMCOR and Quanta also posting double-digit gains, signaling a strong sentiment recovery after what analysts described as excessive pre-earnings risk de-positioning across the sector.

Investor optimism is being fueled by robust earnings expectations, with market consensus projecting quarterly revenue of approximately $4.305 billion — representing 26.54% year-over-year growth — and adjusted EPS of roughly $2.23, implying nearly 60% annual growth. Additionally, MasTec recently closed a $1.65 billion acquisition of The Superior Group to expand its data center electrical infrastructure capabilities, a move expected to contribute $800-900 million in revenue for the remainder of the year. The company's strong track record, including a first-quarter EPS beat of over 40%, has further bolstered confidence heading into the results.