MasTec Stock Up 26% YTD: Is the Rally Still Worth Chasing?

MasTec (MTZ) has gained 25.9% year to date in 2026, outpacing the Zacks Building Products–Heavy Construction industry (+21.8%), the Zacks Construction sector (+11.9%) and the S&P 500 (+13.1%). The rally is attributed to improving earnings, a record backlog and strong infrastructure spending across areas including power, clean energy, pipelines and mission-critical projects. In Q2, revenue rose 23.4% year over year to a quarterly record of $4.37 billion, while adjusted EBITDA climbed 39.8% to $384 million and adjusted EPS increased 48.8% to $2.22. MasTec ended the quarter with a record $21.4 billion 18-month backlog and about a 1.2X book-to-bill ratio. The company also announced the Superior Group acquisition, adding roughly 3,000 employees and electrical-construction capabilities for data centers and other markets.