MasTec Stock Price, News & Analysis

MasTec, Inc. (MTZ) reported Q3 2020 revenue of $1.7 billion, exceeding expectations, with a net income of $116.9 million ($1.59 EPS). Year-to-date revenue reached $4.7 billion, with cash flow from operations at a record $712.5 million, allowing for a $296 million reduction in net debt to $1.07 billion. The company expects 2020 revenue between $6.4 to $6.6 billion, with adjusted EBITDA of $800 to $811 million. Notably, non-Oil & Gas segments showed an 83% increase in adjusted EBITDA year-over-year.

MasTec, Inc. (NYSE: MTZ) will release its Q3 2020 financial results on October 29, 2020, after market close. A conference call to discuss these results is scheduled for October 30, 2020, at 9:00 a.m. ET. Interested parties can join via phone at (323) 794-2094 or (800) 347-6311, with a replay available for 30 days. MasTec is an infrastructure construction company primarily serving North America, focusing on communication, energy, and utility sectors.

MasTec (NYSE:MTZ) has partnered with Brightstar Corp. to provide mobile device repair services to over 85% of the U.S. population. This alliance aims to enhance customer convenience and experience by integrating Brightstar’s expertise with MasTec’s fleet of 3,000+ service vans. The service prioritizes safety through contact-free repairs and thorough sanitization of devices. As highlighted by the executives from both companies, this initiative is designed to meet the growing demand for reliable, flexible repair options, especially during the ongoing pandemic.

MasTec, Inc. (NYSE: MTZ) will participate in two upcoming virtual conferences: the Morgan Stanley 6th Annual Laguna Virtual Conference on September 16 at 12:00 p.m. ET and the D.A. Davidson Diversified Industrials and Services Virtual Conference on September 22 at 3:15 p.m. ET. Senior management will engage in fireside chats, with one-on-one virtual meetings available for institutional investors. Presentations and audio will be accessible on the company's website for about 30 days after the events.

MasTec, Inc. (NYSE: MTZ) will participate in a fireside chat at the KeyBanc Capital Markets Future of Technology Series Virtual Conference on August 12 at 10:00 a.m. ET. The event will feature one-on-one virtual meetings with institutional investors as part of the conference. Interested parties can access the audio and presentation materials on MasTec's website. The presentation will be available for replay for about 30 days. MasTec is a leading infrastructure construction company focusing on communication, energy, and utility sectors.

MasTec, Inc. (NYSE: MTZ) reported strong second quarter 2020 earnings, with revenue of $1.57 billion and net income of $56.8 million, or $0.78 per share, exceeding expectations. Cash flow from operations reached $293 million, facilitating a $177 million debt reduction. The company's 18-month backlog hit a record $8.2 billion. However, MasTec anticipates continued impacts from the COVID-19 pandemic, leading to an adjusted annual revenue forecast of $7.0 billion. For Q3 2020, guidance includes projected revenue of $1.9 billion and adjusted earnings per share of $1.67.

MasTec, Inc. (NYSE: MTZ) has announced an upsized private offering of $600 million in unsecured notes, increasing the initial amount by $200 million. The notes, maturing on August 15, 2028, carry an interest rate of 4.50%. Proceeds will be used primarily to redeem existing 4.875% Senior Notes due 2023 and repay revolving loans. The notes will rank equally with senior debt, junior only to secured debt. This offering is exempt from the Securities Act registration requirements and targets qualified institutional buyers.

MasTec, Inc. (NYSE: MTZ) announced a proposed private offering of $400 million in senior unsecured notes due 2028. The proceeds from this offering are intended to be used to redeem the company's existing 4.875% senior notes due 2023. The new notes will rank equally with existing senior debt but will be junior to secured debts. This offering is subject to market conditions and is exempt from registration requirements under the Securities Act.

MasTec, Inc. (NYSE: MTZ) announced its earnings release for the second quarter of 2020, scheduled for July 30, 2020, post-market. A conference call with senior management to discuss the results will take place on July 31, 2020, at 9:00 a.m. ET. Call-in details are included, with options for both live broadcasting and 30-day replay available via the company's official website. MasTec operates in North America, focusing on infrastructure construction across industries, including communications and energy.