CORAL GABLES, Fla., Sept. 5, 2024 /PRNewswire/ -- MasTec, Inc. (NYSE: MTZ) today announced that its senior management will be participating in two analyst fireside chats in September. The Morgan Stanley 12th Annual Laguna Conference presentation will be on September 12th at approximately 1:25 PM PDT. The DADCO 23rd Annual Diversified Industrials & Services Conference presentation will be on September 19th at approximately 2:00 PM CDT. One-on-one meetings with institutional investors and MasTec's management ...

Core Viewpoint - Momentum investing focuses on "buying high and selling higher" rather than traditional strategies of "buying low and selling high" [1] Group 1: Momentum Investing Strategy - Momentum investors often face challenges in determining the right entry point, as stocks may lose momentum when their valuations exceed future growth potential [2] - Investing in bargain stocks that have recently shown price momentum can be a safer strategy [3] Group 2: MasTec (MTZ) Stock Analysis - MasTec (MTZ) has shown a price increase of 6.2% over the past four weeks, indicating growing investor interest [4] - MTZ gained 0.7% over the past 12 weeks and has a beta of 1.65, suggesting it moves 65% more than the market [5] - MTZ has a Momentum Score of B, indicating a favorable time to invest [6] - The stock has a Zacks Rank 2 (Buy) due to upward revisions in earnings estimates, which attract more investors [7] - MTZ is trading at a Price-to-Sales ratio of 0.72, suggesting it is undervalued at 72 cents for each dollar of sales [7] Group 3: Additional Investment Opportunities - Besides MTZ, there are other stocks that meet the criteria of the 'Fast-Paced Momentum at a Bargain' screen, presenting further investment opportunities [8] - Zacks offers over 45 Premium Screens tailored to different investing styles to help identify potential winning stocks [9]

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MasTec (MTZ) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system. Individual ...

| --- | --- | |-------------------------------------------------------------------------------------|-------| | MasTec Second Quarter 2024 Earnings Call Presentation August 2, 2024 NYSE: MTZ | | | | | | | | Safe Harbor Statement Intrastructure that Octivers This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Forward-looking statements include, but are not limited to, statements relating to expectations regarding the future financial and o ...

Core Insights - MasTec, Inc. reported mixed results for Q2 2024, with adjusted earnings per share (EPS) of 96 cents exceeding the Zacks Consensus Estimate of 88 cents, while revenues of $2.96 billion fell short of the consensus mark of $3.09 billion [4][11] - The company's performance was driven by strong contributions from the Oil and Gas segment, which saw a 67.5% year-over-year increase, while other segments experienced softer contributions [2][7] Financial Performance - Adjusted EPS increased from 89 cents in the year-ago quarter to 96 cents, marking a 7.9% year-over-year growth [4] - Revenues grew 3.1% from $2.87 billion a year ago, despite missing the consensus estimate by 4.2% [4] - Adjusted EBITDA rose to $267.8 million, up 4.9% from $255.4 million in the prior-year period, with an adjusted EBITDA margin increasing to 9% from 8.9% [9] Segment Performance - Oil and Gas segment revenues increased to $572.4 million, with an adjusted EBITDA margin expanding to 23.6% [7] - Communications segment revenues decreased to $824.6 million from $868.7 million, with a contraction in adjusted EBITDA margin to 9.9% [7] - Clean Energy and Infrastructure revenues fell to $942.3 million from $969.7 million, with an adjusted EBITDA margin of 5% [7] - Power Delivery segment revenues totaled $636.6 million, down from $702.6 million, with an adjusted EBITDA margin of 8.1% [8] Backlog and Future Outlook - As of June 30, 2024, MasTec had an 18-month backlog of $13.3 billion, down 0.7% year-over-year but up 3.9% sequentially, driven by strong bookings in the Clean Energy & Infrastructure segment [6] - The company expects Q3 2024 revenues of approximately $3.45 billion, an increase from $3.26 billion reported in Q3 2023, and adjusted EBITDA of around $295 million, up from $271 million a year ago [11] - For the full year 2024, MasTec revised its revenue guidance to approximately $12.4 billion, up from a prior estimate of $12.55 billion, while maintaining an adjusted EBITDA expectation of around $975 million [12][13]

For the quarter ended June 2024, MasTec (MTZ) reported revenue of $2.96 billion, up 3% over the same period last year. EPS came in at $0.96, compared to $0.89 in the year-ago quarter. The reported revenue represents a surprise of -4.19% over the Zacks Consensus Estimate of $3.09 billion. With the consensus EPS estimate being $0.88, the EPS surprise was +9.09%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations ...

MasTec (MTZ) came out with quarterly earnings of $0.96 per share, beating the Zacks Consensus Estimate of $0.88 per share. This compares to earnings of $0.89 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 9.09%. A quarter ago, it was expected that this utility contractor would post a loss of $0.47 per share when it actually produced a loss of $0.13, delivering a surprise of 72.34%. Over the last four quarters, the company has ...

Financial Performance - Revenue for Q2 2024 was $2,961,086, an increase of 3.0% compared to $2,874,115 in Q2 2023[6] - Net income for Q2 2024 was $43,768, compared to $16,754 in Q2 2023, representing a year-over-year increase of 161.5%[6] - Comprehensive income for Q2 2024 was $42,893, compared to $22,337 in Q2 2023, indicating a year-over-year increase of 92.5%[8] - The net loss for the six months ended June 30, 2024, was $9,309,000, compared to a net loss of $63,792,000 for the same period in 2023[19] - The Company recognized revenue of approximately $374.1 million for the six-month period ended June 30, 2024, compared to $342.2 million for the same period in 2023, representing an increase of about 9.5%[43] - Consolidated revenue for the six months ended June 30, 2024, was $5,648 million, an increase of approximately $189 million, or 3%, compared to $5,459 million for the same period in 2023[96] Assets and Liabilities - Total assets decreased to $8,678,986 as of June 30, 2024, down from $9,373,511 at the end of 2023, reflecting a decline of 7.4%[10] - Total liabilities decreased to $5,944,879 as of June 30, 2024, down from $6,652,250 at the end of 2023, a reduction of 10.6%[10] - As of June 30, 2024, MasTec, Inc. reported total equity of $2,734,107,000, a slight decrease from $2,741,187,000 as of December 31, 2023[15] - As of June 30, 2024, the total debt obligations amounted to $2,578.3 million, a decrease from $3,078.8 million as of December 31, 2023, reflecting a reduction of approximately 16.3%[44] Cash Flow and Capital Expenditures - Cash flows from operating activities for the six months ended June 30, 2024, provided $372,199,000, a significant improvement from cash used of $97,910,000 in the prior year[19] - The company incurred capital expenditures of $56,907,000 for the six months ended June 30, 2024, down from $119,067,000 in the same period of 2023[19] - Capital expenditures for the first half of 2024 were approximately $57 million, with an estimated total of $175 million planned for the full year[107] Expenses - General and administrative expenses decreased to $167,081 in Q2 2024, down from $176,155 in Q2 2023, a decrease of 5.1%[6] - Interest expense, net, for the three months ended June 30, 2024, was $50.6 million, down from $59.4 million in the same period in 2023[89] - General and administrative expenses totaled $333 million, or 5.9% of revenue, for the six months ended June 30, 2024, a decrease of approximately $7 million, or 2%, compared to the same period in 2023[98] Segment Performance - EBITDA for the Oil and Gas segment increased significantly to $135.1 million in Q2 2024, compared to $77.0 million in Q2 2023, reflecting a growth of 75.3%[67] - Oil and Gas segment revenue increased by approximately $608 million, or 102%, totaling $1,206 million for the six months ended June 30, 2024, driven by higher project activity[98] - Communications segment revenue decreased by approximately $118 million, or 7%, totaling $1,558 million for the six months ended June 30, 2024, attributed to lower wireless and wireline project activity[96] Backlog and Future Expectations - Estimated backlog as of June 30, 2024, is $13.338 billion, an increase from $12.837 billion as of March 31, 2024[85] - The company anticipates realizing approximately 45% of its estimated backlog in 2024[85] - The company expects continued challenges from elevated market interest rates and cost inflation for the remainder of 2024[82] Acquisitions and Investments - The company completed four acquisitions in 2023, with an aggregate purchase price of approximately $69 million in cash and an earn-out liability valued at approximately $1 million[34] - In July 2024, the company acquired a construction company for approximately $35 million in cash, focusing on underground utility infrastructure[34] - The company plans to continue evaluating opportunities for strategic acquisitions and investments, indicating a proactive approach to growth[107] Tax and Regulatory Matters - The Company’s effective tax rate for the six-month period ended June 30, 2024, was 47.0%, reflecting an increase in non-deductible expenses compared to the same period in 2023[63] - The effective tax rate for the three months ended June 30, 2024, was 30.7%, compared to 14.9% for the same period in 2023[94] - The SEC adopted final rules for climate-related disclosures, effective for fiscal years beginning on or after January 1, 2025, which the Company is currently monitoring[28] Shareholder Information - The company had $77.3 million available for future share repurchases under its March 2020 share repurchase program as of June 30, 2024[60] - During the three months ended June 30, 2024, the company repurchased a total of 25,291 shares of common stock at an average price of $98.61 per share[130] Risk Factors - There have been no material changes to risk factors disclosed in the 2023 Form 10-K, including those related to inflation and interest rates[129] - The company is subject to fluctuations in foreign currency exchange rates, which could increase with future expansion outside the United States[123] - Management actively monitors inflationary factors and their potential effects on business operations and financial condition[121]

Record Second Quarter 2024 Revenue of $3.0 Billion Second Quarter 2024 Diluted Earnings Per Share of $0.43 and Adjusted Diluted Earnings Per Share of $0.96, $0.08 Above Expectations Second Quarter 2024 GAAP Net Income of $43.8 Million and Adjusted EBITDA of $267.8 Million, $7.8 Million Above Expectations 18-month Backlog as of June 30, 2024 of $13.3 Billion Increased $501 Million Sequentially from the First Quarter of 2024 and Represents Record Levels for the Clean Energy and Infrastructure, Power Delivery ...