Core Viewpoint - A class action lawsuit has been filed against Fluor Corporation for misleading statements regarding its financial performance and project costs during the Class Period from February 18, 2025, to July 31, 2025 [1][5]. Group 1: Lawsuit Details - The lawsuit claims that Fluor made false and misleading statements about the costs associated with several major projects, including the Gordie Howe International Bridge and various Texas highways, due to subcontractor errors, price increases, and scheduling delays [5]. - It is alleged that these issues, along with reduced customer capital spending and economic uncertainty, negatively impacted Fluor's business and financial results [5]. - The lawsuit asserts that Fluor's financial guidance for 2025 was unreliable and that the company's risk mitigation strategies were overstated [5]. Group 2: Investor Information - Investors who purchased Fluor securities during the Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - Interested investors can join the class action by visiting the provided link or contacting the law firm directly [3][6]. - A lead plaintiff must be appointed by November 14, 2025, to represent the class in the litigation [1][3]. Group 3: Law Firm Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements, including the largest against a Chinese company at the time [4]. - The firm has consistently ranked highly in securities class action settlements and has recovered hundreds of millions of dollars for investors [4].

Core Viewpoint - A class action has been filed against Fluor Corporation for allegedly misleading investors regarding its business prospects and financial guidance during a specific period in 2025 [1][2]. Allegations - The complaint alleges that Fluor failed to disclose increasing costs related to several infrastructure projects due to subcontractor design errors, price increases, and scheduling delays [2]. - It is claimed that these issues, along with reduced capital spending by customers and economic uncertainty, significantly impacted the company's business and financial results [2]. - The financial guidance provided by Fluor for FY 2025 was deemed unreliable, with overstated risk mitigation strategies and understated impacts of economic uncertainty [2]. Financial Results - On August 1, 2025, Fluor reported disappointing second-quarter results, attributing them to rising costs in infrastructure projects and reduced customer capital spending [3]. - The company revised its FY 2025 financial outlook, projecting adjusted EBITDA of $475 million to $525 million, down from a previous range of $575 million to $675 million [3]. - Adjusted EPS guidance was also lowered to $1.95 to $2.15 per share, down from $2.25 to $2.75 per share, citing client hesitation due to economic uncertainty [3]. - Following these disclosures, Fluor's stock price dropped by $15.35 per share, or 27.04%, closing at $41.42 per share on August 1, 2025 [3]. Class Action Participation - Shareholders may be eligible to participate in the class action against Fluor Corporation, with a deadline to submit papers by November 14, 2025, for those wishing to serve as lead plaintiff [4].

Core Insights - Parsons Corporation has been awarded a $13 million task order under the National Nuclear Security Administration (NNSA) Counter Nuclear Smuggling System Deployment (CNSSD) contract, focusing on counter-nuclear smuggling systems in the Indo-Pacific region [1][2] - This task order marks the fifth awarded to Parsons under the CNSSD MATOC, enhancing national security by preventing the trafficking of radioactive and nuclear materials [2] - The task order includes a one-year base performance period and six one-year option periods, indicating a long-term commitment to this project [1] Company Performance and Strategy - Parsons is recognized for its capability to deliver large-scale programs and critical technology solutions that advance national security [3] - The company aims to support U.S. nonproliferation and nuclear security goals by equipping international partners with the necessary capabilities to detect and disrupt illicit trafficking of nuclear materials [3] - Parsons' work with NNSA is expanding, which includes the Enterprise Construction Management Services contract, thereby growing its Indo-Pacific portfolio [3] Market Position and Future Outlook - In March 2024, Parsons secured one of two positions on the $1 billion ceiling value CNSSD MATOC, showcasing its proven experience and innovative approaches to security solutions [3] - The company continues to leverage its expertise in program and construction management, engineering, and advanced technology to enhance U.S. capabilities in deterring threats and maintaining regional stability [3][5]

Core Insights - Shimmick Corporation has secured approximately $78 million in new contracts for two significant infrastructure projects, the Santa Monica Pier Bridge Replacement and the Renton Transit Center, showcasing its expertise and growth on the West Coast [1][2]. Project Summaries - The Santa Monica Pier Bridge Replacement Project is valued at $29.6 million and involves replacing the 85-year-old Colorado Avenue Bridge, which is the sole access point to the Santa Monica Pier. The project includes constructing a new bridge, demolishing the old one, enhancing pedestrian access, and restoring the historic Santa Monica Pier Arched Neon Sign. The work is set to begin in Q4 2025 and is expected to be completed before the 2028 Los Angeles Summer Olympics [3]. - The Renton Transit Center Project, valued at $48.2 million, focuses on constructing a modern transit center in Renton, Washington. This project will feature a new bus bay island with eight active bays, a Battery Electric Bus (BEB) equipment yard, and roadway improvements to establish a dedicated bus-only lane. This initiative aims to enhance commuter mobility, reduce congestion, and support long-term sustainability goals for Sound Transit [4]. Company Overview - Shimmick Corporation is a leader in providing turnkey infrastructure solutions across various sectors, including water, energy, climate resiliency, and sustainable transportation. The company combines technical excellence with collaborative project delivery to offer innovative, technology-driven solutions that foster economic growth and empower communities [5].

Summary of MasTec Conference Call Company Overview - **Company**: MasTec - **Industry**: Infrastructure construction, focusing on power delivery, clean energy, pipeline infrastructure, and communications Key Points Macro Environment and Growth Drivers - MasTec is experiencing strong macro demand across its four main segments: power delivery, clean energy and infrastructure, pipeline infrastructure, and communications, which are expected to drive robust investment cycles [2][6][12] - The company is well-positioned to capitalize on the growth in data centers, which require extensive construction and utility services [5][7] Data Center Business - MasTec provides various services for data centers, including heavy civil facility construction and utility hookups, which are critical as data centers expand geographically [5][6] - The electrification of heating and reindustrialization are additional factors driving electricity demand, with data centers being a significant contributor [7] Power Delivery and Transmission Outlook - The transmission sector is seeing a positive outlook with a backlog of projects finally moving into construction, including significant contracts awarded in recent years [9][10] - There is optimism regarding potential permit reforms that could accelerate project development in the power delivery space [10] Margin Improvement and Productivity - MasTec aims to achieve double-digit EBITDA margins in the near term, with a focus on improving productivity and reducing revenue volatility [12][11] - The company is leveraging data to enhance crew-level productivity and operational efficiency [11][27] Communications Segment - The communications segment has seen growth driven by wireless contracts, particularly with AT&T, and is expected to shift towards wireline growth due to increased fiber deployment [13][15] - The BEAD program under the IIJA is anticipated to impact the wireline segment positively starting in 2026 [16] Pipeline Infrastructure - The midstream gas sector is experiencing a bullish sentiment, with customers planning new projects and moving towards financial investment decisions [17][18] - There is a strong expectation for increased demand for gas to support gas-fired generation in the coming years [19] Clean Energy and Regulatory Environment - MasTec has a healthy backlog for clean energy projects, with no significant changes in customer plans despite regulatory shifts [20][22] - The company is focused on long-term relationships with clients that have robust infrastructure deployment plans [21] Infrastructure Business Focus - Approximately 40% of MasTec's infrastructure business is civil infrastructure, primarily DOT work, which is performing well [23][24] - The company is cautious about taking on projects with high risk and is focused on maintaining a balanced risk profile [25] Financial Performance and Capital Allocation - MasTec is focused on improving working capital management and cash flow conversion, which are critical for growth and capital allocation flexibility [38][41] - The company is open to M&A opportunities that align with its growth strategy but will be selective in pursuing deals [42][43] Customer Relationship Management - MasTec is transitioning towards framework agreements for larger projects, enhancing predictability and collaboration with clients [35][36] - This shift allows for better resource deployment and improved profitability while maintaining competitive pricing for clients [36][48] Challenges and Strategic Focus - The main focus remains on execution and margin expansion, with a balanced approach to growth and risk management [27][28] - The company is investing in training and workforce development to support its growth ambitions [32][34] Conclusion MasTec is positioned for significant growth across its segments, driven by strong macro demand, strategic customer relationships, and a focus on operational efficiency. The company is navigating regulatory changes and market dynamics while maintaining a disciplined approach to risk and capital allocation.

Market Overview - U.S. stock markets have experienced a significant bull run since the start of 2023, with major indexes like the Dow, S&P 500, and Nasdaq Composite nearing all-time highs [1] - The S&P 500 and Nasdaq Composite have achieved multiple all-time highs in 2025, while the S&P 400 mid-cap index is up 4.9% year to date, just 4.6% away from its 52-week high [2][9] Mid-Cap Stocks - Investment in mid-cap stocks is recognized as a strong portfolio diversification strategy, combining attributes of both small and large-cap stocks [3] - Mid-cap stocks are less vulnerable to losses during economic downturns due to lower international exposure, and they can outperform small caps in a thriving economy due to established management and market presence [4] Recommended Mid-Cap Stocks - Five mid-cap stocks with favorable Zacks Rank for the remainder of 2025 are Dillard's Inc. (DDS), Sterling Infrastructure Inc. (STRL), StoneX Group Inc. (SNEX), Armstrong World Industries Inc. (AWI), and Watts Water Technologies Inc. (WTS), all rated Zacks Rank 1 (Strong Buy) [5][9] Company Insights Dillard's Inc. (DDS) - Dillard's is enhancing growth through strategic initiatives in both brick-and-mortar and e-commerce, focusing on customer acquisition and retention [8] - The company has a strong financial position with solid liquidity and minimal rent obligations, alongside shareholder-friendly practices like dividends and buybacks [10] - Expected revenue and earnings growth rates for DDS are -0.4% and -15.8%, respectively, for the current year, with a 1.8% improvement in the earnings consensus estimate over the last 30 days [11] Sterling Infrastructure Inc. (STRL) - Sterling Infrastructure provides e-infrastructure, transportation, and building solutions, operating through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions [12][13][14] - The expected revenue and earnings growth rates for STRL are 6.5% and 56.9%, respectively, for the current year, with a 5.3% improvement in the earnings consensus estimate over the last seven days [15] StoneX Group Inc. (SNEX) - StoneX Group operates a global financial services network, offering execution, post-trade settlement, clearing, and custody services through various segments [16] - The expected revenue and earnings growth rates for SNEX are 4.9% and 21.7%, respectively, for the next year, with a 21.7% improvement in the earnings consensus estimate over the last 60 days [17] Armstrong World Industries Inc. (AWI) - Armstrong World Industries is a leading producer of ceiling systems for construction and renovation, operating in three segments: Mineral Fiber, Architectural Specialties, and Unallocated Corporate [18][19][20] - The expected revenue and earnings growth rates for AWI are 12.2% and 15.1%, respectively, for the current year, with a 0.7% improvement in the earnings consensus estimate over the last 30 days [21] Watts Water Technologies Inc. (WTS) - Watts Water Technologies designs and manufactures water safety and flow control products, reporting under three geographic segments: The Americas, Europe, and APMEA [22] - The expected revenue and earnings growth rates for WTS are 3.9% and 11.3%, respectively, for the current year, with a 0.8% improvement in the earnings consensus estimate over the last seven days [24]

Market Overview - The U.S. equity markets have experienced significant volatility, reaching record highs due to Federal Reserve Chair Jerome Powell's hints at rate cuts, but also declining sharply due to concerns over NVIDIA's upcoming earnings release [1] - President Trump's actions, including threats to remove Federal Reserve Governor Lisa Cook, have contributed to market uncertainty, potentially leading to a legal battle that could escalate to the Supreme Court [1] Momentum Investing Strategy - Investors are increasingly turning to momentum stocks, such as Vertiv Holdings Co (VRT), MasTec, Inc. (MTZ), and Robinhood Markets, Inc. (HOOD), as a strategy to achieve sustained profits when traditional value or growth investing does not yield desired results [2] - Momentum investing is based on the principle of "buying high and selling higher," capitalizing on established trends that are likely to continue due to existing momentum [3] Screening Parameters for Momentum Stocks - The strategy involves selecting the top 50 stocks with the best percentage price change over the last 52 weeks to identify those that have appreciated steadily [5] - From these, the 10 worst performers over the past week are chosen to identify stocks that have experienced a short-term pullback [6] - Stocks with a Zacks Rank 1 (Strong Buy) are included, as they have a proven history of outperformance [6] - A Momentum Style Score of B or better is required, indicating favorable timing for investment [7] - Stocks must have a current price greater than $5 and be among the top 3000 by market capitalization to ensure stability [8] Selected Stocks - Vertiv has seen a price increase of 60.2% over the past year but has declined by 7.9% in the last week, with a Momentum Score of B [9] - MasTec's stock has risen by 59.7% in the past year, with a slight decrease of 0.7% in the last week, also holding a Momentum Score of B [10] - Robinhood Markets has surged by 415% over the past year but has fallen by 6.2% in the last week, boasting a Momentum Score of A [11]

Financial Data and Key Metrics Changes - Revenue grew by 21% in the quarter, with adjusted earnings per share increasing by 41% to $2.69 and adjusted EBITDA rising by 35% to $126 million [7][8] - Gross profit margin expanded by 400 basis points to 23.3%, and operating cash flow was strong at $85 million [9] - Backlog at the end of the quarter totaled $2 billion, a 24% year-over-year increase [10] Business Line Data and Key Metrics Changes - Infrastructure Solutions revenue grew by 29% year-over-year, with adjusted operating income increasing by 57% and operating margins reaching 28% [11][12] - Transportation Solutions revenue increased by 24%, with adjusted operating profit growing by 78% [13] - Building Solutions segment revenue declined by 1%, with adjusted operating income down by 28% due to challenges in the housing market [14] Market Data and Key Metrics Changes - The data center market was a primary growth driver, with revenue from this market more than doubling year-over-year [12] - E-commerce distribution backlog saw a significant increase of nearly 700% in the quarter [32] - Transportation Solutions backlog was $715 million, reflecting a 5% year-over-year increase but a 17% sequential decline [13] Company Strategy and Development Direction - The company is focused on expanding its geographic footprint and enhancing service offerings through the acquisition of CEC Facilities Group [10][11] - The strategy emphasizes building upon existing strengths in high-margin markets and pursuing attractive growth opportunities [9][10] - The company aims to capture more value across the full life cycle of facilities by integrating services [11] Management's Comments on Operating Environment and Future Outlook - Management remains positive about future growth, particularly in e-infrastructure solutions, anticipating continued demand in data centers [20][22] - The company expects to deliver e-infrastructure revenue growth of 18% to 20% and adjusted operating profit margins in the mid to high 20% range for 2025 [22] - Building Solutions is expected to face challenges in the near term, with a forecasted mid to high single-digit decline in revenue [25] Other Important Information - The company has a strong liquidity position with $699.4 million in cash and a net cash balance of $401.2 million after debt [18] - The guidance for 2025 has been increased, projecting revenue of $2.1 billion to $2.15 billion and adjusted diluted EPS of $9.21 to $9.47 [19] Q&A Session Summary Question: Will significant data center projects land in core markets? - Management believes they are well-positioned for a large percentage of the upcoming data center capital projects [30] Question: Will additional acquisitions be needed for expansion into Texas and the Northwest? - The company plans to pursue both organic growth and potential acquisitions to establish a presence in these markets [34] Question: What is the status of e-commerce opportunities? - Several e-commerce projects are expected to start in the back half of the year, with larger warehouse projects anticipated to provide significant revenue [46] Question: How does the competitive environment look? - The company faces competition primarily from local contractors, but believes its integrated services will provide a competitive edge [61][62] Question: When is the CEC acquisition expected to close? - The acquisition is progressing well, with most licensing and permitting processes underway, but timing is dependent on state agencies [68]

Core Insights - MasTec reported strong Q2 2025 results with revenue of $3.54 billion, exceeding analyst estimates of $3.40 billion, and non-GAAP EPS of $1.49, surpassing the forecast of $1.40 [1][2] - The company has a record 18-month backlog of $16.5 billion, indicating robust future demand despite challenges in operating cash flow and slight growth in adjusted EBITDA [1][10] Financial Performance - Non-GAAP EPS increased by 49.0% year-over-year from $1.00 in Q2 2024 to $1.49 in Q2 2025 [2] - GAAP revenue rose by 19.7% year-over-year from $2.96 billion in Q2 2024 to $3.54 billion in Q2 2025 [2] - Adjusted EBITDA saw a modest increase of 1.3%, from $271.4 million in Q2 2024 to $274.8 million in Q2 2025 [2] - Operating cash flow dramatically decreased by 97.7%, from $264 million in Q2 2024 to $6 million in Q2 2025 [2] Segment Performance - The Communications segment experienced significant growth, with revenue up 41.6%, driven by increased project activity in 5G and broadband [5] - Clean Energy and Infrastructure revenue increased by 20.1% year-over-year, reflecting productivity gains and successful project completions [6] - Power Delivery revenue rose by 20.4%, although margins slipped to 8.7% due to reduced efficiencies [7] - The Pipeline Infrastructure segment faced a revenue decline of 5.7%, attributed to the completion of a major project in the previous year, with EBITDA falling 54% [8] Strategic Focus - MasTec is aligned with industry trends such as 5G expansion, renewable energy projects, and grid modernization, which are critical for future growth [4] - The company emphasizes efficient project execution and working capital management as backlogs increase [4] Operational Challenges - Despite record revenue, the company faces challenges in cash flow management, highlighting the need for improved operational efficiency [11] - The balance sheet remains stable with net debt of $2.07 billion, and the company has expanded its share buyback authorization by $250 million [12] Future Outlook - Management raised the full-year FY2025 revenue outlook to $13.9 to $14.0 billion, reflecting confidence in booking trends [14] - For Q3 FY2025, anticipated revenue is $3.9 billion, with adjusted diluted EPS of $2.28 and adjusted EBITDA of $370 million [15]

Core Insights - Shimmick Corporation has been selected as the preferred bidder for four new contracts totaling approximately $156 million, with $47 million allocated for electrical work, reflecting the growing demand for integrated delivery solutions in infrastructure [1][2] Project Summaries - **River Trunk Realignment - River Pump Station**: A $116 million project in Modesto, CA, aimed at upgrading wastewater infrastructure by rerouting sanitary sewer flows and constructing a 40 million gallon per day pump station [3] - **OC San J-98 Power Distribution System Improvements**: A $24 million project in Huntington Beach, CA, focused on modernizing electrical distribution systems at two wastewater treatment plants to enhance operational safety and reliability [4] - **RD1001 Auxiliary Pump Station**: An $8 million project in Nicolaus, CA, involving the construction of a dual-level steel-frame pump station with vertical turbine pumps and associated infrastructure [5] - **Perris Valley RWRF Aeration Basin Rehabilitation and Diffusers Replacement**: An $8 million project in Perris, CA, aimed at rehabilitating aeration basins and upgrading control systems at the water reclamation facility [6] Company Overview - Shimmick Corporation is a leader in delivering turnkey infrastructure solutions across water, energy, climate resiliency, and sustainable transportation, integrating technical excellence with collaborative project delivery methods [7]