MasTec Stock Price, News & Analysis

MasTec, Inc. (NYSE: MTZ) has acquired INTREN, LLC for about $420 million in cash along with a contingent earnout. INTREN, a leading utility specialty contractor, recorded approximately $550 million in revenue over the past twelve months, primarily from master service agreements. This acquisition is expected to be accretive to MasTec's earnings in 2021 and 2022. INTREN's robust growth rate of 23% compounded annually positions MasTec to expand significantly in the electric utility distribution market, driven by modern grid requirements and rising electric vehicle adoption.

MasTec, Inc. (MTZ) will announce its Q1 2021 results after market close on May 6, 2021. A conference call for discussion of these results is set for May 7, 2021, at 9:00 a.m. Eastern time. The call can be accessed via phone at (323) 794-2423 or (866) 575-6539, with a replay available for 30 days. Additionally, the call will be broadcast live and can be accessed on MasTec's website. MasTec is an infrastructure construction leader in North America, engaged in various sectors including communications and energy.

MasTec, Inc. (MTZ) reported robust Q4 2020 results, with revenues of $1.6 billion, a slight decrease from $1.7 billion in Q4 2019. GAAP net income rose to $112.9 million ($1.54 per diluted share) from $100.7 million ($1.33 per diluted share) in the prior year. Adjusted EBITDA increased 24% to $261.5 million, while the adjusted EBITDA margin improved to 16.0%. For 2021, MasTec anticipates record revenue of $7.8 billion, with a GAAP net income projection of $321 million ($4.34 per share). Despite COVID-19 challenges, the company's backlog rose to $7.9 billion as of December 31, 2020.

MasTec, Inc. (NYSE: MTZ) will disclose its operational results for the fourth quarter and year ended December 31, 2020 on February 25, 2021, post-market. Senior management will participate in a conference call on February 26, 2021, at 9:00 a.m. Eastern time to discuss these results. Interested parties can join via phone or stream the call online at www.mastec.com. MasTec provides infrastructure construction services across North America, focusing on communications, energy, utilities, and industrial sectors.

MasTec, Inc. (NYSE: MTZ) announced its participation in the Barclays Industrial Select Virtual Conference on February 16 at 10:50 a.m. ET, and the Citibank Global Industrials Virtual Conference on February 17 at 1:50 p.m. ET. The company will conduct virtual one-on-one meetings with institutional investors during these events. All audio and presentation materials can be accessed via the MasTec website, with replays available for 30 days post-event. MasTec specializes in infrastructure construction in North America.

MasTec's subsidiary, Casey Industrial, has secured a contract for the mechanical construction of PowerSouth's new Lowman Energy Center in Leroy, Alabama, set to replace the aging coal-fired plant. The project, expected to achieve substantial completion by December 2022, will feature a 640 MW capacity combined-cycle facility, utilizing Mitsubishi’s advanced gas turbine technology. This facility aims to significantly reduce carbon emissions by 65% compared to traditional coal plants, highlighting a shift towards sustainable energy solutions.

On January 5, 2021, Precision Pipeline, LLC, a subsidiary of MasTec (NYSE:MTZ), secured a contract from TC Energy for the construction of the Keystone XL Pipeline in Montana and South Dakota. The project will employ 1,600 American union workers and is expected to generate $55 million in annual property tax revenues. Precision Pipeline emphasizes local hiring and community involvement, aiming to enhance the safety and well-being of surrounding areas during construction. This initiative signifies a substantial investment in North America's infrastructure, fostering economic growth in local communities.

MasTec, Inc. (NYSE: MTZ) announces the passing of José S. Sorzano, a longtime independent Board Member, who served since 1995. CEO José Mas expressed deep sorrow over his loss, noting Sorzano's invaluable guidance and commitment to the company. Jorge Mas, Chairman of the Board, highlighted Sorzano's role in navigating challenges faced by MasTec during his tenure. With significant experience in governmental and international affairs, Sorzano's contributions were pivotal in shaping the company's growth. MasTec extends its condolences to his family while celebrating his legacy.

MasTec, Inc. (NYSE: MTZ) announced participation in fireside chats at the UBS Global TMT Conference on December 7 at 2:50 p.m. ET and the Barclays Global Technology, Media and Telecommunications Conference on December 9 at 3:30 p.m. ET. Senior management will also hold virtual one-on-one meetings with institutional investors. Presentation materials will be available on the company's Investors page, along with replay options for 30 days.