Core Viewpoint - Momentum investing focuses on "buying high and selling higher" rather than the traditional "buying low and selling high" approach, aiming for quicker profits [1] Group 1: Momentum Investing Characteristics - Fast-moving trending stocks can be difficult to enter at the right time, as they may lose momentum if future growth does not justify their high valuations [2] - Investing in bargain stocks that have recently shown price momentum can be a safer strategy, utilizing tools like the Zacks Momentum Style Score to identify potential opportunities [3] Group 2: MasTec (MTZ) Stock Analysis - MasTec (MTZ) has shown a price increase of 6.3% over the past four weeks, indicating growing investor interest [4] - Over the past 12 weeks, MTZ has gained 25.3%, with a beta of 1.7, suggesting it moves 70% more than the market [5] - MTZ has a Momentum Score of A, indicating a favorable time to invest based on momentum [6] Group 3: Earnings Estimates and Valuation - An upward trend in earnings estimate revisions has contributed to MTZ earning a Zacks Rank 1 (Strong Buy), as analysts raising estimates attract more investor interest [7] - MTZ is trading at a Price-to-Sales ratio of 0.89, suggesting it is undervalued at 89 cents for each dollar of sales [7] Group 4: 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] - Various Zacks Premium Screens are available to help identify winning stock picks based on different investing styles [9]

Group 1 - MasTec, Inc. will participate in a fireside chat at the Baird 2024 Global Industrial Conference on November 13th at approximately 1:45 p.m. Central Time [1] - One-on-one meetings with institutional investors and MasTec's senior management are being arranged as part of the conference [1] - Audio and presentation materials will be accessible through links on MasTec's "Investors" page, with a replay available for approximately 30 days [2] Group 2 - MasTec, Inc. is a leading infrastructure construction company operating mainly in North America, focusing on various industries [3] - The company's primary activities include engineering, building, installation, maintenance, and upgrade of communications, energy, and utility infrastructure [3] - MasTec's customers are primarily in the communications, energy, and utility sectors, with services including power delivery, power generation from clean energy, and pipeline infrastructure [3]

Core Viewpoint - MasTec Inc's stock has been on the rise following an increase in its 2024 adjusted earnings guidance, with analysts suggesting further growth potential due to improvements in key business segments [1][2]. Group 1: Company Performance - MasTec's Power Delivery, Clean Energy & Infrastructure (CE&I), and Communications segments are showing signs of recovery and are expected to drive revenue growth and margin expansion [2][4]. - The company has solidified its position in utility transmission and distribution through the acquisition of Henkels & McCoy and in renewables through the IEA acquisition [2]. Group 2: Analyst Insights - Analyst Jamie Cook upgraded MasTec's rating from Hold to Buy and raised the price target from $133 to $173, indicating strong confidence in the company's future performance [2]. - Cook highlighted that both MasTec and its competitor Quanta Services Inc are well-positioned to lead the market due to their competitive advantages, including scale, workforce, and balance sheet [3]. Group 3: Future Outlook - Strong top-line growth and margin expansion are anticipated in 2025, driven by secular growth in renewables and significant funding for communications infrastructure, particularly related to BEAD funding and a new partnership with AT&T [4]. - MasTec is expected to achieve double-digit EBITDA margins over the medium term after experiencing two years of margin pressure [4]. Group 4: Stock Performance - As of the latest publication, MasTec's shares have risen by 3.22% to $136.87, reflecting a 31% increase over the past six months [5].

Q3 2024 Performance - Q3 revenue reached $3.3 billion, driven by record non-Oil & Gas revenues, but fell approximately 6% below guidance due to near-term project delays[4] - Adjusted EBITDA increased by 13% year-over-year, with margins increasing by 110 bps[4] - Record Q3 Adjusted EBITDA exceeded guidance by $11 million, with margins approximately 85 bps ahead of expectations[4] - Cash flow from operations was $278 million in Q3 2024[4] Backlog - Total backlog stands at $13.9 billion, reflecting a sequential increase of $520 million and a year-over-year growth of $1.4 billion, driven by strong bookings of renewable energy projects[4,6] - Clean Energy and Infrastructure backlog conversion remains strong, growing $475 million sequentially and $1.1 billion year-over-year to approximately $4.1 billion[7] Segment Results - Q3 2024 revenue: Communications at $498 million, Clean Energy and Infrastructure at $1.138 billion, Power Delivery at $927 million, and Oil and Gas at $713 million[5] - Q3 2024 Adjusted EBITDA Margin %: Communications at 11.5%, Clean Energy and Infrastructure at 7.5%, Power Delivery at 8.6%, and Oil and Gas at 20.7%[5] 2024 Guidance - Full year revenue guidance is $12.225 billion[12] - Full year Adjusted EBITDA guidance is $990 million[12] - Full year Adjusted Diluted EPS guidance is $3.75[12] - The company anticipates 2024 full year cash flow from operations will approximate $700 million[14]

Financial Data and Key Metrics Changes - Revenue for Q3 2024 was $3.3 billion, with adjusted EBITDA of $306 million and adjusted earnings per share of $1.63. Backlog at the end of the quarter was $13.9 billion, reflecting a sequential increase of $520 million [6][20]. - Adjusted EBITDA margin was 9.4%, exceeding guidance by 85 basis points, and the company met or exceeded adjusted EBITDA guidance for each segment despite lower-than-expected revenue [20][21]. Business Line Data and Key Metrics Changes - The Communications segment saw revenue growth of over 12% year-over-year and sequentially, achieving record quarterly revenues. The EBITDA margin for this segment was 11.5%, the highest in two years [8][11]. - The Clean Energy and Infrastructure segment also reported record quarterly revenue and EBITDA, with an EBITDA margin of 7.5%, the best performance since 2019 [8][15]. - The Power Delivery segment experienced a year-over-year revenue increase for the first time in 2024, with a 10% increase compared to guidance and sequentially [8][13]. - The Oil and Gas Pipeline segment's revenues were slightly lower than expected, but margins outperformed expectations [14][66]. Market Data and Key Metrics Changes - Total company non-oil and gas revenue increased over 15% sequentially, with non-oil and gas EBITDA improving 36% sequentially, driving earnings performance [9][20]. - Backlog for the Clean Energy & Infrastructure segment increased nearly $500 million sequentially, with a book-to-bill ratio of over 1.4x [16][25]. Company Strategy and Development Direction - The company is focused on improving margins across all segments while maintaining strong revenue growth, which is expected to lead to significant value creation for stakeholders [10][17]. - The management emphasized the importance of scale and integrated solutions to meet customer demands, positioning the company as a strong partner in the industry [18][19]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand for services and the potential for organic growth, particularly in the Communications, Power Delivery, and Clean Energy segments [10][38]. - The company anticipates continued improvement in margins and revenue growth, with expectations for all major business lines to achieve double-digit growth year-over-year [38][66]. Other Important Information - The company has made significant investments post-pandemic to diversify its business and is well-positioned to benefit from the changing landscape in power generation and delivery [9][10]. - Cash flow from operations for Q3 was approximately $280 million, with net debt reduced by about $120 million, resulting in a net leverage of 2.2x [20][30]. Q&A Session Summary Question: Insights on margin performance across segments - Management noted that the strong margin performance across all segments is a result of significant investments made over the past few years, leading to operational success and improved financial results [34][36]. Question: Confidence in meeting 2025 forecasts - Management expressed confidence in achieving mid-teens EBITDA growth for 2025, with expectations for double-digit revenue growth across major business lines, except for Oil and Gas, which may remain flat [38][66]. Question: Clean Energy revenue ramp and project delays - Management clarified that the Clean Energy segment saw a sequential increase of over 20%, with some project delays due to material delivery and permits, but they remain optimistic about meeting Q4 targets [42][43]. Question: Cash flow drivers and M&A strategy - Management indicated that cash flow improvements are driven by better billing practices and a favorable mix of projects, with flexibility for potential M&A opportunities as the market remains active [44][45]. Question: Oil and Gas segment outlook - Management highlighted strong visibility for future projects in the Oil and Gas segment, with expectations for a healthy business environment moving forward, despite some cyclical revenue challenges [47][48]. Question: Clean Energy backlog and margin impact - Management reported strong bookings in the Clean Energy segment, with expectations for improved margins in 2025 as older projects are phased out and newer, more profitable projects are executed [49][51].

Core Insights - MasTec, Inc. (MTZ) reported strong third-quarter earnings for 2024, exceeding Zacks Consensus Estimate and showing significant year-over-year growth [1][4] - Despite the strong earnings, revenues fell short of analysts' expectations and experienced a slight decline compared to the previous year [2][4] Financial Performance - Adjusted earnings per share (EPS) reached $1.63, surpassing the Zacks Consensus Estimate of $1.23 by 32.5% and increasing 71.6% year-over-year from $0.95 [4] - Revenues totaled $3.25 billion, missing the consensus mark of $3.45 billion by 5.3%, and slightly down from $3.26 billion reported in the same quarter last year [4] Operational Highlights - The company reported an adjusted EBITDA of $305.9 million, up 13% from $271.1 million in the prior-year period, with an adjusted EBITDA margin increasing to 9.4% from 8.3% [8] - As of September 30, 2024, MasTec had a backlog of $13.86 billion, reflecting an 11% year-over-year increase, driven by strong bookings in renewable energy projects [5] Segment Performance - Communications segment revenues rose to $927.2 million from $824.4 million year-over-year, with an adjusted EBITDA margin expanding by 200 basis points to 11.5% [6] - Clean Energy and Infrastructure revenues increased to $1,138.4 million from $1,099.9 million, though the adjusted EBITDA margin decreased to 7.5%, down 230 basis points [6] - Power Delivery segment revenues grew to $712.5 million from $665 million, but the adjusted EBITDA margin contracted by 100 basis points to 7.6% [7] - Oil and Gas segment revenues fell to $497.8 million from $672.3 million, while the adjusted EBITDA margin improved to 20.7%, up 620 basis points year-over-year [7] Future Guidance - For Q4 2024, MasTec expects revenues of approximately $3.325 billion, an increase from $3.28 billion reported in Q4 2023, with adjusted EBITDA estimated at $259 million [11] - The company revised its 2024 revenue guidance to approximately $12.225 billion, down from the previous expectation of $12.4 billion, while raising adjusted EBITDA expectations to around $990 million [12] - Adjusted EPS for 2024 is now anticipated to be $3.75, significantly up from $1.97 reported in the prior year [13]

Core Insights - MasTec reported a profit beat for the third quarter, driven by tight cost controls, leading to an 8.5% increase in share price [1] - The company earned $1.63 per share on revenue of $3.3 billion, surpassing Wall Street's expectations of $1.23 per share on $3.4 billion in sales [2] - MasTec's backlog increased to $13.9 billion, up $1.4 billion year-over-year, indicating strong future business prospects [3] Financial Performance - The third-quarter earnings of $1.63 per share reflect a significant improvement in profitability, aided by reductions in overhead, interest expenses, and depreciation [2] - The company anticipates fourth-quarter earnings of $1.29 per share, exceeding Wall Street's estimate of $0.94 per share, and expects full-year earnings of $3.75 per share, which is $0.71 better than expected [3] Market Position and Outlook - MasTec focuses on large-scale government, communications, and energy projects, with a strong demand outlook, although the conversion of demand into revenue remains uncertain [4] - Despite a nearly 80% increase in stock price year-to-date, the company is managing expenses carefully, suggesting a cautious approach for potential investors [4]

Core Insights - MasTec reported revenue of $3.25 billion for the quarter ended September 2024, a slight decrease of 0.1% year-over-year, with an EPS of $1.63, up from $0.95 in the same quarter last year [1] - The revenue fell short of the Zacks Consensus Estimate of $3.43 billion, resulting in a surprise of -5.31%, while the EPS exceeded expectations by 32.52% compared to the consensus estimate of $1.23 [1] Revenue Breakdown - Communications revenue was $927.20 million, compared to an estimated $972.90 million, reflecting a year-over-year increase of 12.5% [3] - Oil & Gas revenue reached $497.80 million, surpassing the average estimate of $468.90 million, but showed a significant decline of 26% year-over-year [3] - Eliminations revenue was reported at -$23.50 million, worse than the estimated -$5 million, marking a drastic increase of 422.2% compared to the previous year [3] - Clean Energy and Infrastructure revenue was $1.14 billion, below the estimated $1.36 billion, with a year-over-year growth of 3.5% [3] - Power Delivery revenue was $712.50 million, exceeding the average estimate of $632 million, indicating a year-over-year increase of 7.1% [3] Stock Performance - Over the past month, MasTec's shares have declined by 4.1%, contrasting with a 1% increase in the Zacks S&P 500 composite [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]

MasTec (MTZ) came out with quarterly earnings of $1.63 per share, beating the Zacks Consensus Estimate of $1.23 per share. This compares to earnings of $0.95 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 32.52%. A quarter ago, it was expected that this utility contractor would post earnings of $0.88 per share when it actually produced earnings of $0.96, delivering a surprise of 9.09%.Over the last four quarters, the company ...

Financial Performance - Third quarter 2024 revenue was $3.3 billion, consistent with the same period in 2023 [2] - GAAP net income for the third quarter 2024 was $105.4 million, or $1.21 per diluted share, compared to $15.3 million, or $0.18 per diluted share in the third quarter of 2023 [2] - Adjusted net income for the third quarter 2024 was $138.7 million, with adjusted diluted earnings per share of $1.63, reflecting increases of 83% and 71% respectively compared to the same quarter in 2023 [3] - Adjusted EBITDA for the third quarter 2024 was $305.9 million, up 13% from $271.1 million in the third quarter of 2023 [3] Backlog and Cash Flow - The 18-month backlog as of September 30, 2024, was $13.9 billion, an increase of $1.4 billion from the third quarter of 2023 [4] - Year-to-date cash flow generated by operating activities was $650 million, with days sales outstanding (DSO) at 68 days [5] Guidance and Expectations - The company expects full year 2024 revenue to be approximately $12.225 billion, with GAAP net income projected at $187 million, representing 1.5% of revenue [5] - For the fourth quarter of 2024, revenue is expected to be approximately $3.325 billion, with GAAP net income anticipated at $72 million [6] Management Commentary - The CEO highlighted margin expansion that exceeded guidance and emphasized the strength of the diversified business model, which provides visibility for future performance [5] - The CFO noted significant cash flow generation, with $278 million from operations in the quarter, and a reduction in net debt leverage to 2.2x [5]