On August 8, MasTec rose 5.03% in regular trading, trading at approximately $271.55/share, with turnover of $186 million. The stock continues to rally following its Q2 earnings release on July 31.

MasTec reported Q2 revenue of $4.373 billion, up 23% year-over-year, beating consensus estimates by 1.6%. Adjusted EPS came in at $2.22, representing a 49% increase from the prior year, narrowly missing the $2.23 estimate. Critically, the company's backlog growth accelerated to 30% year-over-year, reaching $21.4 billion, primarily driven by clean energy and infrastructure segments.

Additionally, MasTec completed its $1.65 billion acquisition of electrical contractor The Superior Group in July, aimed at strengthening data center electrical service capabilities. The acquisition is expected to contribute $800 million to $900 million in revenue for the second half, 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.)