Exhibit 99.1

For Immediate Release

MasTec Announces Strong Third Quarter 2020 Earnings Results

Coral Gables, FL (October 29, 2020) — MasTec, Inc. (NYSE: MTZ) today announced better than expected third quarter 2020 financial results and updated its guidance for the remainder of 2020.

Third quarter 2020 revenue was $1.7 billion, with third quarter cash flow from operations of $216.0 million, enabling a sequential $129 million reduction in net debt levels. Year to date 2020 revenue was $4.7 billion, with cash flow from operations at a record level of $712.5 million, a $271 million increase over cash flow from operations during the same period last year. This strong cash flow enabled a year to date $296 million reduction in net debt levels. As of September 30, 2020, the Company had net debt, defined as total debt less cash, of $1.07 billion.

Third quarter GAAP net income and earnings per diluted share exceeded the Company’s expectations at $116.9 million, or $1.59, respectively. Third quarter 2020 adjusted net income and adjusted diluted earnings per share, both non-GAAP measures, were $134.5 million and $1.83, respectively, with adjusted diluted earnings per share exceeding the Company’s previously announced expectation by $0.16. Third quarter 2020 adjusted EBITDA, also a non-GAAP measure, was $265 million, also exceeding the Company’s guidance expectation by approximately $11 million.

Third quarter 18-month backlog as of September 30, 2020 was $7.7 billion, a $179 million increase compared to the same quarter last year.

Adjusted net income, adjusted diluted earnings per share and adjusted EBITDA, which are all non-GAAP measures, exclude certain items which are detailed and reconciled to the most comparable GAAP-reported measures in the attached Supplemental Disclosures and Reconciliation of Non-GAAP Disclosures.

Jose Mas, MasTec’s Chief Executive Officer, commented, “I want to thank the men and women of MasTec for their continued dedication and professionalism. The safety of our employees during these unprecedented times remains our primary focus, as we continually provide critical power, communications and other services to our customers.”

Mr. Mas continued, “We are proud of our third quarter results as our business has shown tremendous resiliency during the pandemic. I’d like to highlight our third quarter year over year 83% adjusted EBITDA growth in our non-Oil & Gas segments and we expect continued strong revenue and earnings growth in these segments in 2021 and beyond. As demand and regulatory issues continue to impact our Oil & Gas segment, our diversification provides strength and resiliency that sets MasTec apart.”

George Pita, MasTec’s Executive Vice President and Chief Financial Officer noted, “During the quarter we continued our strong cash flow performance, with a record $712 million in year to date cash flow from operations. We also further strengthened our capital structure during the quarter with the opportunistic issuance of new, lower rate and improved terms senior unsecured notes. We ended the quarter with a strong leverage profile and record levels of liquidity at approximately $1.4 billion. We continue to expect that annual 2020 results will mark the third consecutive year of a new record level of cash flow from operations. Our strong liquidity and balance sheet give us full flexibility to capitalize on opportunities to maximize shareholder value and to support our customers’ growth initiatives.”

Most of MasTec’s construction services have been deemed essential under state and local pandemic mitigation orders, and all its business segments have continued to operate. The COVID-19 pandemic has had a negative impact on the Company’s operations and the Company expects some continued negative impact. Negative effects include lost productivity from governmental permitting approval delays, reduced crew productivity due to social distancing, other mitigation measures or other factors, the health and availability of work crews or other key personnel, including subcontractors or supply chain disruptions, and/or delayed project start dates or project shutdowns or cancellations that may be mandated or requested by governmental authorities or others, all of which could result in lower revenue, higher operating costs and/or create lower levels of overhead cost absorption.

The Company estimates 2020 annual revenue to range between $6.4 to $6.6 billion, with 2020 annual GAAP net income and diluted earnings per share expected to range between $318 to $324 million and $4.31 to $4.40, respectively. 2020 annual adjusted EBITDA, a non-GAAP measure, is expected to range from $800 to $811 million, and 2020 annual adjusted diluted earnings per share, also a non-GAAP measure, is expected to range between $5.00 to $5.09. The Company’s 2020 annual revenue expectation range includes the effects of COVID-19 impacts across its end markets and the impact of regulatory delays on two large Oil & Gas projects, which have started later than expected.

For the fourth quarter of 2020, the Company expects revenue between $1.7 to $1.9 billion. This revenue expectation incorporates a range of fourth quarter Oil & Gas segment revenue. While the Company has initiated project activity on two large Oil & Gas projects that started later than expected, fourth quarter project activity may vary based on the timing of additional regulatory and/or judicial approvals and winter weather conditions.

Fourth quarter 2020 GAAP net income is expected to range between $108 to $115 million with GAAP diluted earnings per share expected to range between $1.47 to $1.57. Fourth quarter 2020 adjusted EBITDA, a non-GAAP measure, is expected to range between $252 to $263 million, with adjusted diluted earnings per share, a non-GAAP measure, expected to range between $1.64 to $1.73.

Senior Management will hold a conference call to discuss these results on Friday, October 30, 2020, at 9:00 a.m. Eastern time. The call-in number for the conference call is (323) 794-2094 or (800) 347-6311 and the replay number is (719) 457-0820, with a pass code of 4718477. The replay will run for 30 days. Additionally, the call will be broadcast live over the Internet and can be accessed and replayed through the Investors section of the Company’s website at www.mastec.com.

The following tables set forth the financial results for the periods ended September 30, 2020 and 2019:

Consolidated Statements of Operations

(unaudited - in thousands, except per share information)

Consolidated Balance Sheets

(unaudited - in thousands)

Consolidated Statements of Cash Flows

(unaudited - in thousands)

Note: Liquidity is defined as cash plus availability under our credit facilities.

Supplemental Disclosures and Reconciliation of Non-GAAP Disclosures

(unaudited — in millions, except for percentages and per share information)

NM — Percentage is not meaningful

Supplemental Disclosures and Reconciliation of Non-GAAP Disclosures

(unaudited - in millions, except for percentages and per share information)

Supplemental Disclosures and Reconciliation of Non-GAAP Disclosures

(unaudited - in millions, except for percentages and per share information)

Supplemental Disclosures and Reconciliation of Non-GAAP Disclosures

(unaudited - in millions, except for percentages and per share information)

Supplemental Disclosures and Reconciliation of Non-GAAP Disclosures

(unaudited — in millions, except for percentages and per share information)

Supplemental Disclosures and Reconciliation of Non-GAAP Disclosures—Unaudited

(unaudited — in millions, except for percentages and per share information)

The tables may contain slight summation differences due to rounding.

MasTec, Inc. is a leading infrastructure construction company operating mainly throughout North America across a range of industries. The Company’s primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility and other infrastructure, such as: wireless, wireline/fiber, and customer fulfillment activities; pipeline infrastructure; electrical utility transmission and distribution; power generation, including from clean energy and renewable sources; heavy civil, and industrial infrastructure. MasTec’s customers are primarily in these industries. The Company’s corporate website is located at www.mastec.com. The Company’s website should be considered as a recognized channel of distribution, and the Company may periodically post important, or supplemental, information regarding contracts, awards or other related news and webcasts on the Events & Presentations page in the Investors section therein.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act. These statements are based on currently available operating, financial, economic and other information, and are subject to a number of significant risks and uncertainties. A variety of factors, many of which are beyond our control, could cause actual future results to differ materially from those projected in the forward-looking statements. Specific factors that might cause such a difference include, but are not limited to: risks related to adverse effects of health epidemics and pandemics or other outbreaks of communicable diseases, such as the COVID-19 pandemic; market conditions, technological developments, regulatory changes or other governmental policy uncertainty that affects us or our customers’ industries; the effect on demand for our services of changes in the amount of capital expenditures by our customers due to, among other things, economic conditions, including potential adverse effects of public health issues, such as the COVID-19 pandemic on economic activity generally, our customers and our operations, commodity price fluctuations, the availability and cost of financing, and customer consolidation in the industries we serve; activity in the oil and gas, utility and power generation industries and the impact on our customers’ expenditure levels caused by fluctuations in prices of oil, natural gas, electricity and other energy sources; our ability to manage projects effectively and in accordance with our estimates, as well as our ability to accurately estimate the costs associated with our fixed price and other contracts, including any material changes in estimates for completion of projects and estimates of the recoverability of change orders; the timing and extent of fluctuations in operational, geographic and weather factors affecting our customers, projects and the industries in which we operate; the highly competitive nature of our industry and the ability of our customers, including our largest customers, to terminate or reduce the amount of work, or in some cases, the prices paid for services, on short or no notice under our contracts, and/or customer disputes related to our performance of services and the resolution of unapproved change orders; risks related to completed or potential acquisitions, including our ability to identify suitable acquisition or strategic investment opportunities, to integrate acquired businesses within expected timeframes and to achieve the revenue, cost savings and earnings levels from such acquisitions at or above the levels projected, including the risk of potential asset impairment charges and write-downs of goodwill; our dependence on a limited number of customers and our ability to replace non-recurring projects with new projects; risks associated with potential environmental, health and safety issues and other hazards from our operations, as well as the potential for liability as a result of the COVID-19 pandemic, including issues with regulators or claims alleging exposure to COVID-19 relating to our operations or facilities; disputes with, or failures of, our subcontractors to deliver agreed-upon supplies or services in a timely fashion, and the risk of being required to pay our subcontractors even if our customers do not pay us; risks related to our strategic arrangements, including our equity investments; any exposure resulting from system or information technology interruptions or data security breaches; any material changes in estimates for legal costs or case settlements or adverse determinations on any claim, lawsuit or proceeding; the effect of state and federal regulatory initiatives, including costs of compliance with existing and potential future safety and environmental requirements, including with respect to climate change; the effect of federal, local, state, foreign or tax legislation and other regulations affecting the industries we serve and related projects and expenditures; the adequacy of our insurance, legal and other reserves; the outcome of our plans for future operations, growth and services, including business development efforts, backlog, acquisitions and dispositions; our ability to maintain a workforce based upon current and anticipated workloads; our ability to attract and retain qualified personnel, key management and skilled employees, including from acquired businesses, and our ability to enforce any noncompetition agreements; fluctuations in fuel, maintenance, materials, labor and other costs; risks related to our operations that employ a unionized workforce, including labor availability, productivity and relations, as well as risks associated with multiemployer union pension plans, including underfunding and withdrawal liabilities; risks associated with operating in or expanding into additional international markets, including risks from fluctuations in foreign currencies, foreign labor and general business conditions and risks from failure to comply with laws applicable to our foreign activities and/or governmental policy uncertainty; restrictions imposed by our credit facility, senior notes, and any future loans or securities; our ability to obtain performance and surety bonds; a small number of our existing shareholders have the ability to influence major corporate decisions; risks associated with volatility of our stock price or any dilution or stock price volatility that shareholders may experience in connection with shares we may issue as consideration for earn-out obligations or as purchase consideration in connection with past or future acquisitions, or as a result of other stock issuances; as well as other risks detailed in our filings with the Securities and Exchange Commission. We believe these forward-looking statements are reasonable; however, you should not place undue reliance on any forward-looking statements, which are based on current expectations. Furthermore, forward-looking statements speak only as of the date they are made. If any of these risks or uncertainties materialize, or if any of our underlying assumptions are incorrect, our actual results may differ significantly from the results that we express in, or imply by, any of our forward-looking statements. These and other risks are detailed in our filings with the Securities and Exchange Commission. We do not undertake any obligation to publicly update or revise these forward-looking statements after the date of this press release to reflect future events or circumstances, except as required by applicable law. We qualify any and all of our forward-looking statements by these cautionary factors.