Consolidated revenue increased by 16.2% to $14.3 billion in 2025, up from $12.3 billion in 2024. Net income attributable to MasTec, Inc. surged by 145.1% to $399.0 million in 2025, compared to $162.8 million in 2024. Diluted earnings per share rose to $5.07 in 2025, a significant increase from $2.06 in 2024. Adjusted EBITDA grew by 14.4% to $1,150.1 million in 2025, up from $1,005.6 million in 2024. The estimated 18-month backlog reached a record $18.963 billion as of December 31, 2025, a 32.6% increase from $14.298 billion in 2024. The Communications segment saw revenue increase by 32.3% to $3.339 billion, with its EBITDA margin improving by 50 basis points to 9.3%. Clean Energy and Infrastructure segment revenue grew by 14.8% to $4.699 billion, and its EBITDA margin increased by 110 basis points to 7.4%. Power Delivery segment revenue increased by 15.6% to $4.176 billion, though its EBITDA margin slightly decreased by 20 basis points to 8.1%. Pipeline Infrastructure segment revenue remained generally flat at $2.137 billion, and its EBITDA margin declined by 340 basis points to 14.9%. The One Big Beautiful Bill Act (OBBBA), signed on July 4, 2025, accelerated the phaseout of certain clean energy tax credits under the Inflation Reduction Act (IRA) for solar and wind projects placed in service after December 31, 2027, unless construction began by July 4, 2026. The company completed five acquisitions in 2025 and one subsequent to year-end in Q1 2026 for $262 million in cash. A new $250 million share repurchase program was authorized in May 2025, following the completion of a $150 million program in Q2 2025, under which 702,533 shares were repurchased for $77.3 million in 2025.