MasTec, Inc. - MTZ STOCK NEWS

MasTec, Inc. (MTZ) reported strong second quarter 2021 results, with revenues of $2.0 billion, a 25% increase year-over-year. GAAP net income rose 33% to $75.8 million, or $1.02 per diluted share. The company also recorded an adjusted EBITDA of $230 million, representing 11.7% of revenue. Total backlog reached a record $9.2 billion, marking significant growth. For 2021, MasTec raised its revenue guidance to approximately $8.1 billion and anticipates adjusted EBITDA of $930 million.

MasTec, Inc. (NYSE: MTZ) will release its second-quarter earnings report for the period ending June 30, 2021, on August 5, 2021, after market hours. A conference call to discuss these results will take place on August 6, 2021, at 9:00 a.m. Eastern time. MasTec is a leading infrastructure construction firm, focusing on engineering and building across various sectors, including communications and energy. Investors can access the call live or via replay through the company's investor relations website.

MasTec, Inc. (NYSE: MTZ) announced that its senior management will present at three upcoming conferences: KeyBanc Industrials & Basic Materials Conference on June 3 at 11:20 a.m. ET, Stifel Cross Sector Insight Conference on June 8 at 10:00 a.m. ET, and Baird Global Consumer, Technology & Services Conference on June 9 at 9:40 a.m. ET. All presentations will be fireside chats, with virtual one-on-one meetings available for institutional investors. Interested parties can access presentation materials on MasTec's website, where replays will be available for about 30 days.

MasTec, Inc. (MTZ) announced that its senior management will present at the Barclays Americas Select Franchise Virtual Investor Conference on May 18, 2021, at 12:00 p.m. ET. Virtual one-on-one meetings with institutional investors are also being organized. Investors can access the audio and presentation materials on the MasTec website. The presentation will be available for replay for 30 days. MasTec is a leading infrastructure construction company operating mainly in North America, focusing on communications, energy, and utility infrastructure.

MasTec, Inc. (NYSE: MTZ) reported record first quarter 2021 results, with revenue of $1.8 billion, a 25% increase from last year. Cash flow from operations grew 27% to $257 million, while GAAP net income reached $66.1 million, or $0.89 per diluted share. The company raised its full-year 2021 revenue guidance to approximately $8.2 billion, reflecting a $400 million increase. The adjusted diluted earnings per share is expected to hit $5.40. MasTec attributes growth to its recent INTREN acquisition, bolstering its Electrical Transmission segment, expected to reach $1.2 billion in annual revenue.

One Equity Partners has announced the sale of INTREN, LLC to MasTec, Inc. for $420 million, with contingent earnouts through year-end 2021. INTREN, headquartered in Union, Illinois, provides distribution network services for electrical and gas infrastructure, employing around 2,000 professionals across 14 states. Since OEP's investment in July 2017, INTREN achieved approximately $550 million in revenue as of March 2021, demonstrating strong growth. INTREN will retain its brand under MasTec's ownership, continuing to serve major blue-chip utilities.

MasTec, Inc. (NYSE: MTZ) has acquired INTREN, LLC for about $420 million in cash along with a contingent earnout. INTREN, a leading utility specialty contractor, recorded approximately $550 million in revenue over the past twelve months, primarily from master service agreements. This acquisition is expected to be accretive to MasTec's earnings in 2021 and 2022. INTREN's robust growth rate of 23% compounded annually positions MasTec to expand significantly in the electric utility distribution market, driven by modern grid requirements and rising electric vehicle adoption.

MasTec, Inc. (MTZ) will announce its Q1 2021 results after market close on May 6, 2021. A conference call for discussion of these results is set for May 7, 2021, at 9:00 a.m. Eastern time. The call can be accessed via phone at (323) 794-2423 or (866) 575-6539, with a replay available for 30 days. Additionally, the call will be broadcast live and can be accessed on MasTec's website. MasTec is an infrastructure construction leader in North America, engaged in various sectors including communications and energy.

MasTec, Inc. (MTZ) reported robust Q4 2020 results, with revenues of $1.6 billion, a slight decrease from $1.7 billion in Q4 2019. GAAP net income rose to $112.9 million ($1.54 per diluted share) from $100.7 million ($1.33 per diluted share) in the prior year. Adjusted EBITDA increased 24% to $261.5 million, while the adjusted EBITDA margin improved to 16.0%. For 2021, MasTec anticipates record revenue of $7.8 billion, with a GAAP net income projection of $321 million ($4.34 per share). Despite COVID-19 challenges, the company's backlog rose to $7.9 billion as of December 31, 2020.