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MasTec Exhibit 99.1 Contact : J. Marc Lewis , Vice President - Investor Relations 305-406-1815 305-406-1886 fax marc.lewis@mastec.com For Immediate Release • 800 S. Douglas Road , 12th Floor Coral Gables , Florida 33134 Tel : 305-599-1800 Fax : 305-406-1960 www.mastec.com MasTec Announces Second Quarter 2021 Results with Record Backlog and Updates Annual Guidance Second Quarter 2021 Results Include GAAP Net Income of $ 75.8 Million , Adjusted EBITDA of $ 230 Million , Diluted Earnings Per Share of $ 1.02 , and Adjusted Diluted Earnings Per Share of $ 1.30 , $ 0.05 Above Expectations Record Second Quarter Revenue of Approximately $ 2.0 Billion , a 25 % Increase Over the Same Period Last Year Record 18 - Month Backlog as of June 30 , 2021 of $ 9.2 Billion , up $ 1.3 Billion Sequentially from the First Quarter with Record Segment Backlog in Communications , Clean Energy and Infrastructure and Electrical Transmission Continued Strong Balance Sheet as of June 30 , 2021 , Comfortable Leverage Metrics and Ample Liquidity Coral Gables , FL ( August 5 , 2021 ) . MasTec , Inc. ( NYSE : MTZ ) today announced strong second quarter 2021 financial results and updated its guidance for the remainder of 2021 . Second quarter 2021 revenue was $ 2.0 billion , compared to $ 1.6 billion for the prior year period , a 25 % increase . Second quarter 2021 GAAP net income increased 33 % to $ 75.8 million , or $ 1.02 per diluted share , compared to $ 56.8 million , or $ 0.78 per diluted share in the prior year . Second quarter 2021 adjusted net income and adjusted diluted earnings per share , both non - GAAP measures , increased significantly to $ 96.7 million , and $ 1.30 , respectively . Second quarter 2021 adjusted EBITDA , also a non - GAAP measure , was $ 230 million , or 11.7 % of revenue , a 110 - basis point improvement when compared to the prior year . 18 - month backlog as of June 30 , 2021 represented a record level with significant booking activity across multiple segments . Total backlog as of June 30 , 2021 was $ 9.2 billion , representing a 17 % and $ 1.3 billion sequential increase from first quarter 2021 and 13 % and $ 1.0 billion over the second quarter last year . The Company is updating its annual 2021 guidance expectations . Based on the information available today , the Company estimates annual 2021 revenue of approximately $ 8.1 billion , with annual 2021 GAAP net income and diluted earnings per share expected to approximate $ 318 million and $ 4.29 , respectively . Annual 2021 adjusted EBITDA , a non - GAAP measure , is expected to be $ 930 million , and annual 2021 adjusted diluted earnings per share , a non - GAAP measure , is expected to be $ 5.45 .