MTZ: A Superior inside game for data centers

研报英文原文证据摘录

MTZ: A Superior inside game for data centers

Clean Energy

Clean Energy - Market Weight

MASTEC, INC. (MTZ) July 8, 2026

MTZ: A Superior inside game for data centers Rating:

Outperform

The Wolfe Byte Price: $382.90

Superior adds inside electric capabilities, giving MTZ more ways to win around the Price Target:

data center buildout. Big picture, the megatrends remain firmly in place, and E&Cs $536

remain the picks and shovels way to play power, data centers, and infrastructure. % Upside:

40.0%Reit OP and $536 PT.

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Superior acquisition. MTZ is acquiring The Superior Group, a Columbus-based Company Information

electrical contractor for $1.65B ($1.175B cash / $475M stock), with closing expected 52-Week Range $169 - $438

later this month. Superior takes MTZ inside the fence, completing a data center Market Cap. (MM) $30,256

offering that previously stopped at power, communications, building shell and site/ Enterprise Value (MM) $33,033

Shares Out. (MM) 79.0

civil work. Superior will sit in Power Delivery, with CEO Bryan Stewart and team Avg. Value Traded (MM) $340.49

remaining in place. SI% of Float 6.0%

FCF Yield 2.0%

Solidly accretive. Superior is projected to generate FY26 rev. of $1.6B-$1.7B and EV/ EBITDA 21.6x

adj EBITDA of $225M-$250M (~14% margin). Post-close, MTZ expects Superior to Price Performance

contribute $800M-$900M of rev., $100M-$115M of adj EBITDA (~13% margin), and YTD LTM

$0.50-$0.65 of adj EPS in 2026. For 2027, Superior's rev. is projected to grow to MTZ 75% 121%

$2.2B-$2.5B (up ~43% y/y – which MTZ described as conservative) and adj EBITDA S&P 500 9% 20% S&P 500 Industrials 16% 21%

of $250M-$275M (~11% margin), with the margin step down (to 11% from 14%)

reflecting geographic expansion costs. Superior's rev.