IEA - IEA STOCK NEWS

MasTec and Infrastructure and Energy Alternatives (IEA) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for the acquisition of IEA by MasTec has expired. This is a crucial step toward completing the transaction, expected in October 2022, pending customary closing conditions, including IEA stockholder approval. MasTec operates prominently in infrastructure construction across North America, focusing on various energy and utility sectors. Investors are encouraged to review upcoming SEC filings for detailed information regarding the transaction.

Infrastructure and Energy Alternatives (IEA) reported a 21.5% rise in total revenues to $680.6 million for Q2 2022, compared to the previous year. Net income reached $17.0 million, a significant increase from $4.7 million in Q2 2021. The company has a renewables backlog of $2.4 billion, up 29.2% y/y. Notably, IEA entered a merger agreement with MasTec, with shareholders receiving $10.50 in cash and 0.0483 shares of MasTec for each share of IEA. However, inflationary pressures and supply chain issues may affect future project costs.

MasTec has entered a definitive agreement to acquire Infrastructure & Energy Alternatives (IEA) for $14.00 per share, totaling approximately $1.1 billion. The deal, expected to close in late Q4 2022, has been unanimously approved by both companies' boards. IEA provides renewable energy solutions with a strong customer base. The acquisition aims to enhance MasTec's service capabilities in clean energy. IEA anticipates 2022 revenue of $2.3 to $2.5 billion, with projections for $2.6 to $2.7 billion in 2023. MasTec expects annual cost savings of $10 million post-transaction.

Infrastructure and Energy Alternatives (Nasdaq: IEA) has secured a $126 million contract from the Illinois Department of Transportation to undertake phase two of the I-57 and I-74 interchange reconstruction in Champaign County. The project includes pavement reconstruction, lane additions, and bridge replacements, slated to start in July 2022 and expected to finish by June 2024. This initiative is part of the larger Rebuild Illinois Capital Plan, a $45 billion investment program aimed at improving infrastructure and creating 540,000 jobs across the state.

Infrastructure and Energy Alternatives (Nasdaq: IEA) announced its executive management team's participation in the Bank of America Clean Energy Conference on June 13, 2022. IEA executives will meet with registered investors for one-on-one discussions. IEA is a prominent infrastructure construction company specializing in renewable energy and civil services, having completed over 260 utility-scale wind and solar projects across North America. Interested parties can learn more by contacting their Bank of America salesperson or visiting www.iea.net.

Infrastructure and Energy Alternatives (Nasdaq: IEA) announced that its executive management team will participate in two upcoming investor conferences: the Stifel 2022 Cross Sector Insight Conference on June 9, 2022, and the Sidoti & Company Summer Small-Cap Virtual Conference on June 16, 2022. IEA executives will be available for one-on-one meetings with registered investors at these events. In addition, IEA is a major player in the renewable energy sector, having completed over 260 utility scale wind and solar projects across North America.

Infrastructure and Energy Alternatives (IEA), a leader in renewable energy and civil infrastructure, will attend the H.C. Wainwright Global Investment Conference on May 25, 2022. Executives from IEA will be available for one-on-one meetings with registered investors, allowing potential stakeholders an opportunity to engage directly with the management team. IEA has a robust portfolio, having completed over 260 utility-scale wind and solar projects across North America, and offers a range of services from engineering to construction.

Infrastructure and Energy Alternatives, IEA, reported record revenues of $360.1 million for Q1 2022, up 30.3% year-over-year. The total backlog reached $2.9 billion, an increase of 10.1% y/y, with renewables backlog at $2.1 billion, up 7.0%. However, IEA reported a net loss of $27.1 million compared to $20.4 million last year, and adjusted EBITDA fell to a loss of $17.1 million from $3.4 million. The company raised its revenue guidance for 2022 to between $2.3 billion and $2.5 billion, citing strong demand but also acknowledging inflationary pressures impacting margins.

Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) announced it will release its first-quarter 2022 results on May 9, 2022, after market close. The management team will host a conference call on May 10, 2022, at 11:00 AM ET to discuss the results. Investors can access the call via the Company’s Investor Relations website. IEA, known for its renewable energy and civil construction expertise, has completed over 255 utility-scale projects across North America. The meeting will provide valuable insights into the Company’s performance and future outlook.