MTZ Stock Recent News

MasTec, Inc. MTZ reported better-than-expected second-quarter adjusted earnings results, after the closing bell on Thursday.

MasTec, Inc. (NYSE:MTZ ) Q2 2024 Earnings Call August 2, 2024 9:00 AM ET Company Participants Marc Lewis - Vice President, Investor Relations Jose Mas - Chief Executive Officer Paul Dimarco - Executive Vice President and Chief Financial Officer Conference Call Participants Jamie Cook - Truist Securities Neil Mehta - Goldman Sachs Sangita Jain - KeyBanc Alex Rygiel - B. Riley Andy Kaplowitz - Citigroup Justin Hauke - Robert W.

MasTec's (MTZ) second-quarter 2024 results reflect increased contributions from the Oil and Gas segment, partially offset by soft contributions from other segments. Also, higher backlog levels showcase increased consumer confidence.

The headline numbers for MasTec (MTZ) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

MasTec (MTZ) came out with quarterly earnings of $0.96 per share, beating the Zacks Consensus Estimate of $0.88 per share. This compares to earnings of $0.89 per share a year ago.

Record Second Quarter 2024 Revenue of $3.0 Billion Second Quarter 2024 Diluted Earnings Per Share of $0.43 and Adjusted Diluted Earnings Per Share of $0.96, $0.08 Above Expectations Second Quarter 2024 GAAP Net Income of $43.8 Million and Adjusted EBITDA of $267.8 Million, $7.8 Million Above Expectations 18-month Backlog as of June 30, 2024 of $13.3 Billion Increased $501 Million Sequentially from the First Quarter of 2024 and Represents Record Levels for the Clean Energy and Infrastructure, Power Delivery and Communications Segments Cash Flow Generated by Operating Activities of $264 Million and DSO at 69 days CORAL GABLES, Fla. , Aug. 1, 2024 /PRNewswire/ -- MasTec, Inc. (NYSE: MTZ) today announced second quarter 2024 financial results and updated its full year 2024 guidance expectations.

Get a deeper insight into the potential performance of MasTec (MTZ) for the quarter ended June 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.

MasTec (MTZ) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

CORAL GABLES, Fla. , July 18, 2024 /PRNewswire/ -- MasTec, Inc. (NYSE: MTZ) today announced that it will release results of operations for the quarter ended June 30, 2024, after the market closes on Thursday, August 1, 2024.

MasTec, Inc. has good growth prospects driven by 5G infrastructure expansion, federal funding, sustainability trends, and energy independence needs. Despite project execution issues impacting margins, improvements in bid discipline and execution are expected to drive margin growth. The stock is trading at a discount to its peer, Quanta Services, and has the potential for a valuation re-rating as execution improves and demand increases.