MasTec(US:MTZ)2024-11-01 18:12Q3 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]