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, Inc. (NYSE: MTZ) will release its operational results for Q4 and the full year ended December 31, 2021, after market close on February 24, 2022. A conference call is scheduled for February 25, 2022, at 9:00 a.m. Eastern Time to discuss these results. Investors can access the call via phone at (313) 209-7315 or (877) 614-0009, with a replay available for 30 days. The company, a leader in North American infrastructure construction, focuses on communications, energy, and utility sectors.
MasTec, Inc. (NYSE: MTZ) will present at the Goldman Sachs Energy and Clean Technology Virtual Conference on January 5 at 3:40 p.m. ET, featuring CEO Jose Mas. The next day, they will participate in a 'Fireside Chat' at the Citibank Apps Economy Virtual Conference on January 6 at 3:00 p.m. ET. Attendees can access audio and presentation materials on the company's website, with replays available for 30 days. MasTec operates mainly in North America, focusing on infrastructure construction in various sectors.
MasTec has completed its acquisition of Henkels & McCoy Group, valued at approximately $600 million. This strategic move enhances MasTec's market position as the leading utility contractor, bolstering its capabilities in renewable energy and infrastructure services. The acquisition brings over 5,100 Henkels employees into MasTec, expanding its operational scale and service offerings. CEO Jose Mas emphasized that this acquisition allows for diversification into renewable energy, positioning MasTec for future growth in an evolving utility market.
MasTec, Inc. (NYSE: MTZ) has finalized an agreement to acquire Henkels & McCoy Group Inc. for $600 million. This deal includes $420 million in cash and approximately 2 million shares of MasTec stock. Henkels, with $1.5 billion in 2021 revenue, brings significant operational expertise and a strong customer base. The acquisition aims to enhance MasTec's position in the growing utility services market and support the transition to renewable energy. Expected 2022 results for Henkels are projected to mirror 2021 figures, amid challenges in communications and pipeline services.
Precision Pipeline, LLC (PPL) has been awarded the 2021 Corporate Social Responsibility Award by the International Pipe Line & Offshore Contractors Association (IPLOCA) for its Human Trafficking Awareness Program. This initiative, launched in 2019, trains employees to recognize signs of human trafficking, with over 6,500 individuals trained nationwide. PPL's commitment to safety and community engagement emphasizes its role in combating human trafficking, according to Public Relations Manager Rachel Johnson and President Bobby Poteete.
MasTec (NYSE: MTZ) will present at three upcoming virtual conferences. Senior management will participate in the Credit Suisse Industrials Virtual Conference on December 2 at 1:30 p.m. ET, followed by the UBS Global TMT Virtual Conference on December 7 at 4:40 p.m. ET, and the Barclays Global TMT Virtual Conference on December 8 at 9:45 a.m. ET. These events will feature fireside chats and virtual one-on-one meetings with institutional investors. Presentation materials can be found on MasTec's website and will be available for replay for 30 days.
MasTec announced its participation in the Baird Global Industrial Virtual Investor Conference on November 10, 2021, at 10:15 a.m. ET. The company's senior management will present, and there will be opportunities for virtual one-on-one meetings with institutional investors. Interested parties can access the presentation materials via the Company’s website, where a replay will be available for 30 days. MasTec is recognized for its infrastructure construction capabilities across various sectors in North America.
MasTec, Inc. (NYSE: MTZ) reported record third quarter 2021 revenue of $2.4 billion, a 42% increase year-over-year. GAAP net income reached $112.5 million, or $1.50 per diluted share, beating expectations by $0.13. Adjusted net income and diluted EPS were $135.6 million and $1.81, respectively. The company announced a backlog of $8.5 billion, up $821 million from last year, while also reducing net debt by $80 million. Updated guidance projects 2021 revenue at approximately $8 billion and diluted EPS at $4.46. A conference call will be held on November 5, 2021.
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