MasTec, Inc. - MTZ STOCK NEWS

MasTec, Inc. (NYSE: MTZ) announced that CEO Jose Mas will participate in a fireside chat at the 8th Annual Cowen Communications Infrastructure Summit on August 9 at 10:45 a.m. ET. The event includes one-on-one meetings with institutional investors. Access to the audio and presentation materials will be available on the MasTec website, and a replay will be provided for approximately 30 days. MasTec specializes in infrastructure construction across various sectors including communications, energy, and utilities.

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.

MasTec, Inc. (NYSE: MTZ) announced the upcoming release of its quarterly results for the period ended June 30, 2022, scheduled for August 4, 2022. A conference call will follow on August 5, 2022, at 9:00 a.m. Eastern time to discuss these results, with options to join via phone or through a live Internet broadcast. The company is a major infrastructure construction entity in North America, focusing on a variety of sectors including energy, communications, and utilities, among others.

MasTec, Inc. (NYSE: MTZ) announced participation in several investor conferences, including Cowen's 2nd Annual Sustainability & Energy Transition Virtual Summit on June 7, 2022, and Stifel's Cross Sector Insight Conference on June 9, 2022. Senior management will engage in fireside chats and one-on-one meetings with institutional investors. Additional participation includes conferences by B Riley Securities, Key Banc Capital Markets, and UBS Future of 5G. The presentations will be available for replay on MasTec's website for about 30 days following the events.

MasTec reported Q1 2022 results, showing a GAAP net loss of $35 million and a diluted loss per share of $0.47. Revenue increased by 10.1% year-over-year to $1.95 billion. Adjusted EBITDA was $99 million, down from $203.9 million in Q1 2021. The company recorded an 18-month backlog of $10.6 billion, a 35% increase from the previous year. Updated guidance for 2022 includes expected revenue of $9.2 billion and adjusted EBITDA between $850 million and $875 million, reflecting project delays in Clean Energy and Oil & Gas segments.

MasTec, Inc. (NYSE: MTZ) will announce its Q1 2022 results on May 5, 2022, after market close. A conference call to discuss these results is scheduled for May 6, 2022, at 9:00 a.m. ET. Investors can access the call via phone at (313) 209-5140 or (800) 304-0389, with a replay available for 30 days. MasTec specializes in infrastructure construction across North America, focusing on engineering and building in communications, energy, and utility sectors. More information can be found on their official website.

MasTec, Inc. (NYSE: MTZ) has appointed Ava L. Parker to its Board of Directors as a Class III Director. Ms. Parker, the first female president of Palm Beach State College, has a strong background in education and administration, overseeing significant enrollment growth. She previously held leadership roles in Florida Polytechnic University and has extensive governance experience. Jorge Mas, MasTec's Chairman, emphasized Parker's expertise in education and technical training as pivotal for expanding the company's labor resources in response to growing customer demand.

MasTec (NYSE: MTZ) announced that its senior management will present at the Goldman Sachs Energy Services Symposium on March 9, 2022, at 9:35 a.m. ET. The presentation, titled "Enabling the Energy Transition and the 5G Build-Out," aims to discuss key developments in the energy and communications sectors.

The session will be interactive and accessible through MasTec's website. After the event, a replay will be available for 30 days, ensuring stakeholders can stay informed on the company's strategic initiatives.

MasTec, Inc. (NYSE: MTZ) reported a 10.5% increase in Q4 2021 revenue to $1.8 billion, while GAAP net income decreased to $76.4 million, or $1.04 per diluted share. Full year revenue rose 26% to $8.0 billion, with adjusted net income of $414.2 million, or $5.58 per share. The company has set an ambitious 2022 revenue guidance of approximately $10 billion. Despite strong performance, Q1 2022 is expected to show a loss of $44 million due to project delays and integration costs from recent acquisitions. The backlog rose to $9.9 billion, reflecting a 26% increase year-over-year.