MasTec(US:MTZ)2025-05-02 00:32Financial Performance - Revenue for Q1 2025 was $2.8 billion, representing a 6% increase year-over-year, with a 21% growth contribution from non-pipeline segments and a 44% decrease from Pipeline Infrastructure due to a large contract close-out last year[5]. - Diluted EPS for Q1 2025 was $0.13, while Adjusted Diluted EPS was $0.51, exceeding expectations by $0.18 and $0.17, respectively[5]. - GAAP Net Income for Q1 2025 was $12.3 million, and Adjusted EBITDA was $163.7 million, both above expectations by $13.3 million and $3.7 million, respectively[5]. - Consolidated revenue for Q1 2025 was $2,847.7 million, a 6.0% increase from $2,686.8 million in Q1 2024[37]. - Net income for Q1 2025 was $12.3 million, compared to a net loss of $34.5 million in Q1 2024[42]. - Adjusted EBITDA for Q1 2025 was $163.7 million, up from $152.8 million in Q1 2024, maintaining a margin of 5.7%[38]. - Free cash flow for Q1 2025 was $45.0 million, down from $93.2 million in Q1 2024[45]. - The company expects net income for the year ended December 31, 2025, to be in the range of $366 million to $397 million, representing a significant increase from $199.4 million in 2024[48]. - Adjusted diluted earnings per share for 2025 is estimated to be between $4.28 and $4.63, compared to $2.06 in 2024[48]. - Adjusted net income attributable to MasTec, Inc. is expected to be between $107 million and $114 million, up from $78.6 million in 2024[52]. - Adjusted diluted earnings per share is forecasted to be between $1.36 and $1.46, compared to $1.00 in the prior year[52]. Segment Performance - The Communications segment reported revenue of $680.9 million, a 34.7% increase, and EBITDA of $46.8 million, an 82.4% increase[12]. - The Clean Energy and Infrastructure segment saw revenue of $915.8 million, a 21.5% increase, and EBITDA of $57.1 million, a 179.8% increase[15]. - The Pipeline Infrastructure segment experienced a revenue decline of 43.8% to $356.5 million, with EBITDA decreasing by 52.0% to $44.5 million[19]. - The Communications segment revenue increased to $680.9 million in Q1 2025, up from $505.7 million in Q1 2024[37]. Cash Flow and Debt - Cash flow from operating activities was $78 million, with Free cash flow of $45 million, indicating solid cash generation despite a decrease from the previous year[5]. - Total debt as of March 31, 2025, was $2,233.7 million, with net debt at $1,888.0 million[45]. - The company authorized an additional $250 million share repurchase program, bringing the year-to-date total to $77 million at an average price of $110 per share[4]. Guidance and Future Outlook - The company raised its financial guidance for FY 2025, increasing Adjusted Diluted EPS guidance by approximately 9% from the prior midpoint[5]. - Net income for the three months ended June 30, 2025, is estimated to be between $81 million and $88 million, representing a growth of 2.4% to 2.6% compared to $43.8 million in 2024[52]. - Adjusted EBITDA is projected to be between $270 million and $280 million, reflecting a growth of 7.9% to 8.2% from $271.4 million in the previous year[52]. - Total adjustments for adjusted net income are estimated at $43 million for 2025, down from $55.6 million in 2024[52]. - Interest expense is projected to be $44 million, a decrease from $50.6 million in the previous year[52]. - Depreciation expense is expected to be $76 million, down from $102.1 million in 2024[52]. - The company plans to continue focusing on market expansion and new technology development to drive future growth[48]. - The company emphasizes the importance of non-U.S. GAAP financial measures for evaluating performance and trends in its underlying business[55]. - Forward-looking statements indicate potential risks including inflation, regulatory changes, and project management challenges that could impact future performance[57]. - The company plans to continue focusing on technological developments and market expansion as part of its growth strategy[57].