
As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at engineering and design services stocks, starting with MasTec (NYSE: MTZ).
Companies providing engineering and design services boast ever-evolving technical expertise. Compared to their counterparts who manufacture and sell physical products, these companies can also pivot faster to more trending areas due to their smaller physical asset bases. Green energy and water conservation, for example, are current themes driving incremental demand in this space. On the other hand, those providing engineering and design services are at the whim of construction and infrastructure project volumes, which tend to be cyclical and can be impacted heavily by economic factors such as interest rates.
The 5 engineering and design services stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 2.6% while next quarter’s revenue guidance was 2.3% below.
In light of this news, share prices of the companies have held steady as they are up 1.8% on average since the latest earnings results.
MasTec (NYSE: MTZ)
Involved in the 1996 Olympic Games MasTec (NYSE: MTZ) is an infrastructure construction company that specializes in the telecommunications, energy, and utility industries.
MasTec reported revenues of $3.97 billion, up 22% year on year. This print exceeded analysts’ expectations by 1.6%. Overall, it was a strong quarter for the company with an impressive beat of analysts’ revenue estimates and a solid beat of analysts’ adjusted operating income estimates.
"We are pleased that third quarter financial performance posted strong double-digit year-over-year growth across both revenue and profit metrics while also exceeding guidance in all respects as MasTec continues to execute on notably strong customer demand across all end-markets we serve," said Jose Mas, MasTec's Chief Executive Officer.

MasTec scored the fastest revenue growth of the whole group. Unsurprisingly, the stock is up 21.5% since reporting and currently trades at $259.84.
Is now the time to buy MasTec? Access our full analysis of the earnings results here, it’s free.
Best Q3: Sterling (NASDAQ: STRL)
Involved in the construction of a major highway, the Grand Parkway in Houston, TX, Sterling Infrastructure (NASDAQ: STRL) provides civil infrastructure construction.
Sterling reported revenues of $689 million, up 16% year on year, outperforming analysts’ expectations by 11.3%. The business had an incredible quarter with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ revenue estimates.

Sterling achieved the biggest analyst estimates beat and highest full-year guidance raise among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 4.9% since reporting. It currently trades at $373.56.
Is now the time to buy Sterling? Access our full analysis of the earnings results here, it’s free.
Weakest Q3: AECOM (NYSE: ACM)
Founded in 1990 when a group of engineers from five companies decided to merge, AECOM (NYSE: ACM) provides various infrastructure consulting services.
AECOM reported revenues of $4.18 billion, up 1.6% year on year, falling short of analysts’ expectations by 3.3%. It was a slower quarter as it posted a significant miss of analysts’ revenue estimates and full-year EBITDA guidance slightly missing analysts’ expectations.
AECOM delivered the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 26% since the results and currently trades at $97.61.
Read our full analysis of AECOM’s results here.
EMCOR (NYSE: EME)
Through its network of over 70 subsidiaries, EMCOR (NYSE: EME) provides electrical, mechanical, and building construction and services
EMCOR reported revenues of $4.30 billion, up 16.4% year on year. This result was in line with analysts’ expectations. More broadly, it was a mixed quarter as it failed to impress in some other areas of the business.
EMCOR had the weakest full-year guidance update among its peers. The stock is down 6.2% since reporting and currently trades at $728.50.
Read our full, actionable report on EMCOR here, it’s free.
Dycom (NYSE: DY)
Working alongside some of the most popular mobile carriers in the world, Dycom (NYSE: DY) builds and maintains telecommunications infrastructure.
Dycom reported revenues of $1.45 billion, up 14.1% year on year. This print beat analysts’ expectations by 3%. Overall, it was an exceptional quarter as it also put up a solid beat of analysts’ adjusted operating income estimates and an impressive beat of analysts’ EBITDA estimates.
The stock is up 24.9% since reporting and currently trades at $370.
Read our full, actionable report on Dycom here, it’s free.
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