Welcome to our dedicated page for MasTec news (Ticker: MTZ), a resource for investors and traders seeking the latest updates and insights on MasTec stock.
MasTec, Inc. (NYSE: MTZ) is a North American infrastructure engineering and construction company whose news flow is closely tied to developments in communications, energy, utility and other infrastructure markets. The company’s press releases and SEC filings regularly cover quarterly financial results, segment performance and updates to financial guidance, giving readers insight into trends across its Communications, Clean Energy and Infrastructure, Power Delivery and Pipeline Infrastructure segments.
On this page, readers can follow MasTec news related to revenue growth, net income, adjusted EBITDA and changes in the company’s estimated 18‑month backlog by segment. Recent releases have discussed how project volumes and efficiencies in wireless and wireline/fiber, renewable energy projects, power delivery work and pipeline infrastructure activity affect segment revenue and margins. MasTec also uses news announcements to describe the mix of project activity, such as renewable projects, heavy civil work, transmission and distribution projects, and midstream pipeline projects.
MasTec’s news also includes earnings conference call schedules, webcasts and participation in investor conferences hosted by financial institutions. These items explain when management plans to discuss results and outlook, and they identify the Investors section of the company’s website as a recognized channel of distribution for presentations, webcasts and supplemental information. Additional news items may highlight corporate developments such as changes in investor relations leadership.
Investors, analysts and other interested readers can use this news feed to monitor MasTec’s reported financial performance, segment trends, backlog development and capital structure actions as disclosed in press releases and related communications. Checking this page regularly provides a consolidated view of MasTec’s public announcements over time.
MasTec (NYSE: MTZ) has announced its senior management's participation in two analyst fireside chats this September. The first will be at the Morgan Stanley 12th Annual Laguna Conference on September 12th at 1:25 PM PDT, and the second at the DADCO 23rd Annual Diversified Industrials & Services Conference on September 19th at 2:00 PM CDT. These events will include one-on-one meetings with institutional investors.
Audio and presentation materials will be accessible through the 'Investors' page on MasTec's website, with replays available for about 30 days. MasTec is a leading infrastructure construction company operating across North America in various industries, including communications, energy, utility, and other infrastructure sectors.
MasTec has reported its second quarter 2024 financial results and provided an updated full-year guidance. The company achieved a record revenue of $3.0 billion, a 3% increase from the same quarter in 2023. GAAP net income of $43.8 million (or $0.43 per diluted share) represents a 161% year-over-year increase. Adjusted net income was $85.6 million with adjusted diluted earnings per share of $0.96, exceeding expectations by $0.08. Adjusted EBITDA reached $267.8 million, also above forecast by $7.8 million. The 18-month backlog is at a record $13.3 billion, up $501 million from the previous quarter. For the full year 2024, MasTec projects revenue of $12.4 billion and adjusted EBITDA of $975 million with GAAP EPS of $1.25 and adjusted EPS of $3.03. Third-quarter revenue is expected to be approximately $3.45 billion with adjusted EBITDA of $295 million and GAAP EPS of $0.78.
MasTec (NYSE: MTZ), a leading infrastructure construction company, has announced the schedule for its Second Quarter 2024 earnings release and conference call. The company will release its Q2 2024 results after market close on Thursday, August 1, 2024. A conference call with senior management will follow on Friday, August 2, 2024, at 9:00 a.m. Eastern time.
Investors can access the live call at (856) 344-9221 or (888) 204-4368 with confirmation code 3980141. The call will also be broadcast live on MasTec's website, where presentation materials and a 30-day replay will be available. MasTec operates across various infrastructure sectors, including communications, energy, utilities, and industrial projects, primarily in North America.
MasTec announced that its subsidiary, IEA Energy Services , received sufficient consents from holders of its 6.625% Senior Notes due 2029 to adopt proposed amendments to the indenture governing the notes. This follows a cash tender offer for the outstanding notes, expiring on July 5, 2024. As of June 18, 2024, 90.49% of the notes had been tendered. Holders who tendered early will receive $1,000 per $1,000 principal amount, including an early tender premium. Payment for these notes will be made on June 24, 2024. The remaining notes may be redeemed post-expiration. J.P. Morgan is managing the tender offer.
MasTec (NYSE: MTZ) has announced the pricing of its public offering of $550 million in senior notes due 2029. The notes, priced at 99.956%, will pay 5.900% interest semi-annually and mature on June 15, 2029. They will rank equally with existing and future senior unsecured debt and be subordinate to secured indebtedness. Proceeds will be used to purchase IEA Energy Services' 6.625% notes, repay term loans, and for general corporate purposes. The offering is expected to close on June 10, 2024, with J.P. Morgan Securities and BofA Securities, Inc. acting as joint book-running managers.
MasTec (NYSE: MTZ) announced that IEA Energy Services, its subsidiary, has initiated a cash tender offer for its $225.1 million outstanding principal amount of 6.625% Senior Notes due 2029. The offer includes an early payment incentive and aims to amend the IEA Indenture by eliminating restrictive covenants. The tender offer expires on July 5, 2024, with an early tender deadline on June 18, 2024. Payments for early tenders are expected on June 24, 2024, while later tenders will be paid around July 9, 2024. The offer depends on MasTec securing at least $600 million in new debt financing.
MasTec, Inc. announced Q1 2024 financial results, with revenue of $2.7 billion and a net loss improvement of $46 million. The company raised its annual 2024 revenue guidance to $12.55 billion, with a GAAP net income of $121 million. Adjusted EBITDA was $157.3 million, reflecting positive growth.
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