MasTec, Inc. - MTZ STOCK NEWS

MasTec (NYSE: MTZ) reported strong Q3 2024 financial results with revenue of $3.3 billion and significant margin expansion. Net income reached $105.4 million, or $1.21 per diluted share, up from $15.3 million in Q3 2023. Adjusted EBITDA increased 13% to $305.9 million. The company's 18-month backlog grew to a record $13.9 billion, up $1.4 billion year-over-year. Cash flow from operations was strong at $650 million year-to-date. MasTec increased its full-year 2024 guidance, expecting revenue of approximately $12.225 billion and adjusted EBITDA of $990 million.

MasTec (NYSE: MTZ) has announced the schedule for its Third Quarter 2024 earnings release and conference call. The company will release its results for the quarter ended September 30, 2024, after market close on Thursday, October 31, 2024. A conference call with senior management will follow on Friday, November 1, 2024, at 9:00 a.m. Eastern time.

Investors can join the live call at (856) 344-9221 or (888) 204-4368 with confirmation code 9237122. The call will also be broadcast live online and can be accessed through MasTec's investor relations website. Presentation materials and a 30-day replay will be available on the website.

MasTec is a leading infrastructure construction company operating primarily in North America across various industries, including communications, energy, utility, and other infrastructure sectors.

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.