Financial Data and Key Metrics Changes - The company reported first quarter revenue of $2.85 billion, exceeding expectations and representing a year-over-year increase [30][31] - Adjusted EBITDA for the first quarter was $164 million, surpassing guidance by approximately 53% [30][31] - The eighteen-month backlog reached a record $15.9 billion, up $1.6 billion from year-end and $3 billion year-over-year [31][32] - The company raised its full-year 2025 revenue guidance to $13.65 billion and adjusted EBITDA guidance to a range of $1.12 billion to $1.16 billion [16][40] Business Line Data and Key Metrics Changes - The Communications segment saw a revenue increase of 35% year-over-year and an 82% adjusted EBITDA growth, with backlog increasing 7% sequentially to $4.9 billion [17][31] - Power Delivery revenues increased nearly 13% year-over-year, with a backlog growth of 6% sequentially to $5 billion [20][21] - Clean Energy and Infrastructure revenue grew 22% year-over-year, with adjusted EBITDA more than doubling to $57 million and a backlog increase to a record $4.4 billion [22][23] Market Data and Key Metrics Changes - The company noted robust demand in the telecom infrastructure market, which is expected to remain resilient against macro pressures due to capital investments in broadband delivery [17][18] - The pipeline infrastructure segment experienced a revenue decline of 44% year-over-year, attributed to challenging comparisons from the Mountain Valley Pipeline project wind down [25][26] - The backlog in the pipeline segment more than doubled sequentially, indicating a positive outlook for future project activity [16][26] Company Strategy and Development Direction - The company is focused on organic growth while also considering tuck-in acquisitions to strengthen its market position [48][49] - There is an emphasis on operational execution and evolving business processes to ensure consistent outcomes and strong structural profitability [28][39] - The management is optimistic about the long-term outlook, particularly in the pipeline segment, with expectations for strong revenue growth in 2026 and beyond [27][56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate macroeconomic uncertainties and maintain strong structural demand [30][31] - The outlook for the pipeline market is positive, with expectations for increased project activity and bookings in 2026 [56][58] - The company remains cautious about potential impacts from tariffs and regulatory changes but does not foresee significant risks to its 2025 business outlook [23][41] Other Important Information - The company completed $37 million in share repurchases during the first quarter and has authorized an additional $250 million repurchase program [32][42] - The company maintains a strong balance sheet with total liquidity of $2.2 billion and net leverage of 1.9 times [42] Q&A Session Summary Question: Details on oil and gas bookings and geographies of interest - Management noted strong bookings across various projects, with expectations for backlog to increase as the year progresses [45][47] Question: Capital allocation and suitable end markets for acquisitions - The focus remains on organic growth, with potential acquisitions in geographies where the company can strengthen its position [48][49] Question: Update on pipeline business and competitive environment - Management remains optimistic about pipeline revenues in 2026, with expectations for strong bookings and a favorable competitive landscape [54][56] Question: Insights on power delivery margins and performance - Margins were impacted by weather and project mix, but management expects improvements as the year progresses [55][60] Question: Nature of pipeline projects booked and order sizes - The pipeline business is active with significant infrastructure needs, and management anticipates strong further awards throughout the year [79][80] Question: Framework agreements and their impact on backlog visibility - Framework agreements provide long-term visibility into customer project workflows, enhancing the company's ability to assess project viability [81][85]

然而，当时只有中国工程院院士、时任广州抽水蓄能电站联营公司总经理罗绍基支持这一创新方 案。"打破常规，才有突破。"罗绍基当场拍板，并强调"有事我负责"。刘学山提出的创新方案使广蓄一 期在保证施工质量的前提下缩短了6个月的工期，还直接节约了6000多万元的投资。刘学山也因此获得 原电力工业部颁发的科技进步一等奖。 罗绍基院士和公司鼓励创新、支持创新的做法，深深鼓舞着刘学山。这成为他日后勇于创新的底气所 在。 近日，南方电网储能股份有限公司专家委员会主任委员刘学山从柬埔寨出差回国，和记者分享了他的科 研经历。30多年来，刘学山扎根抽水蓄能行业，先后参与我国20多座抽水蓄能电站建设。他带领团队持 续创新，首创抽水蓄能超高压钢筋混凝土压力管道建设关键技术。不久前，刘学山获得第八届潘家铮 奖。 优化设计缩短工期六个月 广州抽水蓄能电站（以下简称"广蓄"）是我国自行设计和施工的第一座抽水蓄能工程。广蓄一期工程配 套大亚湾核电站运行，因此其投产必须早于大亚湾核电站投产时间。 然而受客观条件限制，团队在建设过程中发现，广蓄一期难以按预计时间投产。这把团队急得团团转。 刚从地质行业改行而来的刘学山十分好学。只要施工单位干活，他 ...

MasTec (MTZ) Q4 2024 Earnings Call February 28, 2025 09:00 AM ET Company Participants Marc Lewis - VP - IRJose Mas - Chief Executive OfficerPaul Dimarco - Executive VP & CFOJamie Cook - Managing Director - Equity ResearchAndrew Kaplowitz - Managing DirectorJustin Hauke - Vice President and Senior Research AssociateAdam Thalhimer - Director of ResearchAtidrip Modak - Vice President - Energy Services & E&PsBrian Brophy - Associate Vice PresidentAvi Jaroslawicz - Equity Research AssociateDrew Chamberlain - Equ ...