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 prominent infrastructure construction company primarily serving North America. Founded over 80 years ago, MasTec has developed extensive expertise in the engineering, building, installation, maintenance, and upgrade of communication, energy, utility, and other infrastructure. The company's diverse service offerings span across various industries, including communications, oil and gas, utility, renewable energy, and power delivery.
MasTec operates through five key segments:
- Communications: This segment focuses on wireless, wireline/fiber, and customer fulfillment activities.
- Clean Energy and Infrastructure: Specializing in power generation from clean and renewable sources.
- Oil and Gas: Handling natural gas pipeline construction and distribution infrastructure.
- Power Delivery: Including transmission, distribution, and environmental planning and compliance services.
- Other: Encompassing heavy civil, industrial infrastructure, and environmental remediation services.
With offices across the country, MasTec employs nearly 12,000 skilled professionals and boasts an extensive fleet of specialized construction equipment. This allows the company to manage large-scale, complex projects and deliver quality work reliably. The company's financial stability and ability to scale operations make it a preferred partner for customers with changing needs.
In recent developments, MasTec has been involved in significant projects and strategic partnerships, including:
- The Mountain Valley Pipeline project, a large-scale natural gas pipeline.
- Expansion into clean energy projects to address the growing demand for renewable energy sources.
- Collaborations with major industry players to enhance communication infrastructure across North America.
MasTec's commitment to innovation is evident in its investment in new technologies and processes to improve project efficiency and environmental sustainability. Financially, the company has demonstrated resilience, with strong cash flow generation and a strategic focus on debt reduction.
For the latest updates, financial results, and upcoming events, investors can access webcast presentations and detailed financial reports through MasTec's corporate website.
MasTec reported a third-quarter 2022 revenue of $2.5 billion, marking a 38% increase in its non-Oil & Gas segments. GAAP net income was $49.2 million, equating to $0.65 per diluted share. The company’s adjusted net income was $100.8 million, or $1.34 per diluted share. A record backlog of $11.2 billion was reported, up $222 million sequentially. MasTec updated its full-year 2022 guidance to approximately $9.7 billion in revenue and $50 million in net income. The acquisition of IEA is expected to enhance service capabilities.
MasTec (NYSE: MTZ) announced participation in a fireside chat at the R.W. Baird Global Industrial Institutional Investor Conference on November 9 at 2:20 p.m. Central Time. The event will also include one-on-one meetings with institutional investors. Interested parties can access audio and presentation materials on MasTec's website.
The company, a leader in infrastructure construction in North America, focuses on communications, energy, and utility services, including clean energy and pipeline infrastructure.
MasTec, Inc. (NYSE: MTZ) reported the expiration of its private exchange offer for 6.625% Senior Notes due August 15, 2029, following its acquisition of IEA. A total of $74,884,000 of IEA Existing Notes, representing 24.96% of the total outstanding, were tendered by the deadline. Although the company did not receive enough consents for proposed amendments to the IEA Existing Indenture, the conditions for the Exchange Offer were met, allowing the issuance of new MTZ Exchange Notes. Settlement is scheduled for October 26, 2022.
MasTec, Inc. (NYSE: MTZ) will release its Q3 2022 earnings on November 3, 2022, after market close. A conference call is scheduled for November 4, 2022, at 9:00 a.m. ET, to discuss the results. Investors can access the live call and replay via MasTec's website. The company operates in infrastructure construction across North America, specializing in communications, energy, and utility sectors, among others.
MasTec has successfully completed the acquisition of Infrastructure and Energy Alternatives (IEA) as of October 7, 2022, after receiving approval from IEA stockholders. This strategic acquisition enhances MasTec's capabilities in the renewable energy sector, allowing for expanded green power construction and maintenance services. The merger is expected to create a comprehensive solution for clients in the renewable energy market, while also diversifying MasTec's service offerings to include Heavy Civil, Rail, and Environmental Remediation services.
MasTec, Inc. (NYSE: MTZ) announced an amendment to its private exchange offer for $300 million of 6.625% Senior Notes due August 2029. This exchange offer involves existing notes issued by IEA Energy Services, a subsidiary of Infrastructure and Energy Alternatives, Inc. The offer is conditioned upon the completion of a merger with IEA, expected to close in October 2022. The amended deadlines for the early tender and consent have been set for October 14, 2022. The Company seeks consents to amend covenants and provisions in the existing notes.
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.
MasTec, Inc. (NYSE: MTZ) will have senior management participate in multiple investor conferences. On September 15, they will conduct a fireside chat at Morgan Stanley's 10th Annual Laguna Investor Conference at 7:55 p.m. ET. Another chat is scheduled for September 22 at DADCO's Diversified Industrials & Services Conference at 9:00 a.m. ET. Meetings with institutional investors will also occur. Additionally, J. Marc Lewis will meet investors in London on September 7 during the Stifel Industrials & Renewables Summit.
Presentation materials and audio can be accessed on MasTec's website.
MasTec, Inc. (NYSE: MTZ) announced an amendment to its private exchange offer for $300 million of 6.625% Senior Notes due 2029. The amendment extends the consent solicitation deadline and early tender date. The exchange offer supports the merger with IEA Energy Services, expected to close in Q4 2022, pending regulatory approvals. Eligible holders of existing notes will receive a consent payment of $2.50 in cash or a potential success fee, depending on the consents obtained. This strategic move aims to optimize MasTec's capital structure and enhance financial flexibility.
MasTec (NYSE: MTZ) announced a private exchange offer for its 6.625% Senior Notes due August 15, 2029, totaling up to $300 million. This offer is contingent on the merger with IEA Energy Services, expected to close in Q4 2022. Eligible holders of existing notes can receive $950 per $1,000 principal amount in new MasTec notes and a $2.50 cash consent payment. The offer, set to expire on September 30, 2022, will help facilitate the integration of IEA into MasTec's operations, enhancing its financial position.
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