MasTec, Inc.

Thank you for standing by and welcome to Mass Tech's first quarter 2026 financial results conference call. I want to remind participants that today's call is being recorded. I'd now like to turn the call over to Marc Lewis for some opening comments.

Thank you, Lisa, and good morning, everyone, and thanks for joining us for Mass Tech's first quarter conference call. Joining me today are Jose Mas, Chief Executive Officer, and Paul Dimarco, our CFO. We have prepared slides to supplement our remarks today, which are posted on MOSTEC's website under Investors tab and through the webcast link this morning. There is also a companion document with information and analytics on the quarter and a guide summary to assist in financial modeling. Please read the forward-looking statement disclaimer contained in the slides accompanying this call. Through this call, we'll make certain forward-looking statements regarding our plans and expectations about the future as of the date of this call. Because these statements are based on current assumptions and factors that involve risks and uncertainties, our actual performance and results may differ materially from our forward-looking statements. Our Form 10-K, as updated by our current and periodic reports and filings, includes a detailed discussion of risks and uncertainties that may cause such differences. Additionally, in today's remarks, we will be discussing adjusted financial metrics, reconciling entries press release, and supporting schedules. We may also use certain non-GAAP financial measures on this call. A reconciliation of any non-GAAP financial measures not reconciled in these comments to the most comparable GAAP financial measure can be found in our earnings press release, slides, or companion documents. We had another great quarter to start the year, and let's get into it. I will now turn the call over to Jose.

Jose? Thanks, Mark. Good morning, and welcome to MAS Tech's 2026 first quarter call. Today, I'll be reviewing our first quarter results as well as providing my outlook for the markets we serve. First, some first quarter highlights. Revenue for the quarter was $3,829,000,000 up 34% year-over-year. Adjusted EBITDA was $284,000,000, a 73% year-over-year increase. Adjusted earnings per share was $1.39, a 174% increase. And backlog at quarter end was $20.3 billion, a $1.4 billion sequential increase, and a new record level. In summary, we delivered a great quarter. In fact, the strongest first quarter in our history. setting new highs across virtually every key metric. Revenue, EBITDA, and EPS were all above guidance with strong year-over-year double-digit growth. EBITDA margins improved 170 basis points versus last year first quarter, and Total Company booked a bill with 1.4 times, setting yet another backlog record. 2026 should be a great year and I'm excited about the momentum we are building as we look ahead to 2027 and beyond. Maybe more importantly, when you step back from the quarter, what we're seeing across our end markets continues to reinforce our confidence in the longer term opportunity in front of us. The amount of investment going into critical infrastructure right now is significant. and is being driven by some very durable trends. Whether that's AI and data centers, grid reliability, energy demands, critical infrastructure or connectivity. And the way we're positioned at MassTech, we're right in the middle of all that. On the telecom side, we feel really good about where we are. The fundamentals continue to improve driven by strong growth in total data usage. Aggregate US data consumption is estimated to almost double by 2030. This growth is fueled by increasing demand for streaming video, cloud computing, gaming, and connected devices. The rapid expansion in total network traffic underscores durable demand and significant long-term growth potential. At the same time, you've got the next wave of investment coming from bead funding, which will support rural broadband and middle mile builds over the next several years. But the biggest shift we're seeing is around data center interconnectivity. AI is driving a level of demand for fiber capacity, redundancy, and low latency that we haven't seen before. Connecting data centers, both long haul and metro, is becoming a major driver of spend, and we think that creates a multi-year opportunity measured in the tens of billions of dollars. In power delivery, the visibility remains strong. We're in the middle of a multi-year investment cycle in the grid. Utilities are spending heavily on transmission, system hardening and reliability and that's being driven by both aging infrastructure and increasing demands. A big part of that demand is coming from AI and data centers, which could drive up to 12% of total US electricity consumption by the end of the decade. That kind of growth requires significant expansion of the grid, new transmission lines, substations, and upgrades across the system. So when you combine load growth, resilience, and energy transition, It creates a long duration, highly visible opportunity set, and we think we're really well positioned there. Power delivery revenue for the quarter was up 16%, and EBITDA was up 40%, and book to bill was 1.6 times, with backlog increasing over $600 million sequentially. In clean energy and infrastructure, What's really making a difference is the platform we've built across renewables, civil, industrial, and general building. Our renewable revenue was up over 60% year over year, and margins improved 70 basis points. In our industrial and infrastructure markets, we're seeing significant opportunities tied to critical infrastructure, including gas-fired generation, civil construction, and general building permission-critical projects. Data center development is a big part of that. Each one of those projects requires significant site work, power infrastructure, and ongoing expansion, and that plays directly into our capabilities. Our recent Turnkey Data Center Award is progressing very well. The demand for both the skill set that Maastricht has developed in construction management coupled with the capabilities we have in civil, power, telecom, and maintenance provides us the opportunity to exponentially grow this part of our business. As the opportunity for full turnkey services matures, we continue to look for ways to increase our self-reform capabilities and improve margins. Clean energy and infrastructure segment revenues increased 45% year over year, EBITDA was up 56%, and segment backlog increased sequentially by over $770 million, representing a book-to-bill of 1.6 times. On the pipeline side, the fundamentals are also very solid. For the quarter, pipeline segment revenue was up 92% year over year, and EBITDA more than tripled. There's a growing need for natural gas infrastructure, particularly to support gas fire generation, which remains critical for reliability as power demand increases. And at the same time, global LNG demand continues to grow, thriving investment in export infrastructure and related pipelines both domestically and internationally. So we see this as a business with good visibility and steady demand going forward. Our reported backlog is not fully representative of the potential as it only includes signed contracts. Based on current negotiations and verbal awards, our visibility in this segment is as strong as it's ever been and we expect strong long-term growth. In closing, we delivered an exceptional start to 2026 with record performance across revenue, profitability and backlog. These results reflect strong execution across the business and the strength of our diversified platform. More importantly, the long-term fundamentals across all of our end markets remain highly compelling. From AI-driven data center growth and telecom demand to grid modernization, energy infrastructure, and pipeline opportunities, the scale and durability of investment continue to grow. We believe Maastricht is uniquely positioned at the center of these critical infrastructure trends with the capabilities, customer relationships, and backlog to drive sustained growth. Given our strong performance and momentum, we are increasing our full year guidance. We now expect revenue of $17.5 billion, adjusted EBITDA of $1.5 billion, and earnings per share of $8.79 representing year over year growth of 22%, 30% and 34% respectively. With strong visibility, accelerating demand and meaningful momentum across our segments, we are confident in our outlook for 2026 and increasingly optimistic about the opportunities ahead in 2027 and beyond. I'd like to take a moment to thank the men and women of MOSFET. It is both an honor and a privilege to lead such an outstanding team. Our people are deeply committed to the values that define us, safety, environmental stewardship, integrity, and honesty, while consistently delivering high-quality projects at the best possible value for our customers. These principles have not gone unnoticed. Our customers recognize and appreciate the dedication and excellence our team brings to every project. It is through the hard work and commitment of our people that we have positioned ourselves for continued growth and long-term success. I'd like to thank you for your continued support and I'll now turn the call over to Paul for our financial review. Paul?