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. (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.
MasTec, Inc. (NYSE: MTZ) will disclose its operational results for the fourth quarter and year ended December 31, 2020 on February 25, 2021, post-market. Senior management will participate in a conference call on February 26, 2021, at 9:00 a.m. Eastern time to discuss these results. Interested parties can join via phone or stream the call online at www.mastec.com. MasTec provides infrastructure construction services across North America, focusing on communications, energy, utilities, and industrial sectors.
MasTec, Inc. (NYSE: MTZ) announced its participation in the Barclays Industrial Select Virtual Conference on February 16 at 10:50 a.m. ET, and the Citibank Global Industrials Virtual Conference on February 17 at 1:50 p.m. ET. The company will conduct virtual one-on-one meetings with institutional investors during these events. All audio and presentation materials can be accessed via the MasTec website, with replays available for 30 days post-event. MasTec specializes in infrastructure construction in North America.
MasTec's subsidiary, Casey Industrial, has secured a contract for the mechanical construction of PowerSouth's new Lowman Energy Center in Leroy, Alabama, set to replace the aging coal-fired plant. The project, expected to achieve substantial completion by December 2022, will feature a 640 MW capacity combined-cycle facility, utilizing Mitsubishi’s advanced gas turbine technology. This facility aims to significantly reduce carbon emissions by 65% compared to traditional coal plants, highlighting a shift towards sustainable energy solutions.
On January 5, 2021, Precision Pipeline, LLC, a subsidiary of MasTec (NYSE:MTZ), secured a contract from TC Energy for the construction of the Keystone XL Pipeline in Montana and South Dakota. The project will employ 1,600 American union workers and is expected to generate $55 million in annual property tax revenues. Precision Pipeline emphasizes local hiring and community involvement, aiming to enhance the safety and well-being of surrounding areas during construction. This initiative signifies a substantial investment in North America's infrastructure, fostering economic growth in local communities.
MasTec, Inc. (NYSE: MTZ) announces the passing of José S. Sorzano, a longtime independent Board Member, who served since 1995. CEO José Mas expressed deep sorrow over his loss, noting Sorzano's invaluable guidance and commitment to the company. Jorge Mas, Chairman of the Board, highlighted Sorzano's role in navigating challenges faced by MasTec during his tenure. With significant experience in governmental and international affairs, Sorzano's contributions were pivotal in shaping the company's growth. MasTec extends its condolences to his family while celebrating his legacy.
MasTec, Inc. (NYSE: MTZ) announced participation in fireside chats at the UBS Global TMT Conference on December 7 at 2:50 p.m. ET and the Barclays Global Technology, Media and Telecommunications Conference on December 9 at 3:30 p.m. ET. Senior management will also hold virtual one-on-one meetings with institutional investors. Presentation materials will be available on the company's Investors page, along with replay options for 30 days.
MasTec, Inc. (NYSE: MTZ) will participate in the 8th Annual Credit Suisse Virtual Industrials Conference on December 2 at 9:30 a.m. ET. The event includes a fireside chat with senior management and arrangements for virtual one-on-one meetings with institutional investors. Audio and presentation materials will be available on MasTec's website, with a replay accessible for 30 days post-event. MasTec specializes in infrastructure construction across North America, focusing on communications, energy, and utility sectors.
MasTec, Inc. (MTZ) reported Q3 2020 revenue of $1.7 billion, exceeding expectations, with a net income of $116.9 million ($1.59 EPS). Year-to-date revenue reached $4.7 billion, with cash flow from operations at a record $712.5 million, allowing for a $296 million reduction in net debt to $1.07 billion. The company expects 2020 revenue between $6.4 to $6.6 billion, with adjusted EBITDA of $800 to $811 million. Notably, non-Oil & Gas segments showed an 83% increase in adjusted EBITDA year-over-year.
MasTec, Inc. (NYSE: MTZ) will release its Q3 2020 financial results on October 29, 2020, after market close. A conference call to discuss these results is scheduled for October 30, 2020, at 9:00 a.m. ET. Interested parties can join via phone at (323) 794-2094 or (800) 347-6311, with a replay available for 30 days. MasTec is an infrastructure construction company primarily serving North America, focusing on communication, energy, and utility sectors.
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