Have you found what you were looking for? MasTec anticipates that post-acquisition leverage metrics will remain comfortably within its target range with ample liquidity. MasTec Inc.has closed its previously announced acquisition ofHenkels & McCoy Group Inc. in a cash and stock transaction valued at approximately$600 million. In November, Lemartec entered into an agreement with Burrell Aviation to work on developing regional municipal airport projects. Visit Performance Disclosure for information about the performance numbers displayed above. The Federal Trade Commission works topromote competition, and protect and educate consumers. For those who cannot participate live, a recording will be available on the company's website for approximately 30 days by dialing (719) 457-0820 and referencing the same conference code. Full year 2023 adjusted EBITDA is expected to range between $1.10 and $1.15 billion, representing between 8.5% and 8.8% of revenue, and adjusted diluted earnings per share is expected to range between $4.64 and $4.91. Notably, todays order extends the coverage of the prior approval beyond the markets directly impacted by this merger. Fourth Quarter 2022 Results Include GAAP Net Income of $3.4 Million, Adjusted EBITDA of $258 Million, Diluted Earnings Per Share of $0.04 and Adjusted Diluted Earnings Per Share of $1.03, Successfully Completed IEA Acquisition, with Significant Post-Acquisition Net Debt Reduction During the Quarter, Record 18-Month Backlog as of December 31, 2022 of $13.0 Billion, a 31% Increase Over 2021. If you wish to go to ZacksTrade, click OK. For the three months ended December 31, 2021, Corporate EBITDA included $3.6 million of such acquisition and integration costs. The projected loss in the first quarter is the result of a variety of factors including a normal seasonally slow quarter, project delays, project start-up costs and integration costs related to recent acquisition activity. A-1 Excavating, LLC (WI) (100% owned by MasTec North America, Inc.) Cash Construction Company, Inc. (TX) (100% owned by MasTec North America, Inc.) Decisive Communications, Inc. (MD) (100% owned by Precision Acquisition, LLC (WI)) (100% owned by MasTec, Inc.) Pumpco, Inc. (TX) This marks an important step in the diversification ofMasTecsend market portfolio of services, providing us strong strategic growth opportunities, Mas added. All rights reserved. As previously announced on October 7, 2022, MasTec completed the acquisition of Infrastructure and Energy Alternatives, Inc., a premier renewables and infrastructure services provider adding approximately $1.1 billion in acquisition financing and assumed debt during the quarter. The webcast replay will be available for at least 30 days. The deal was announced on May 5. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. The acquisition allows Noke, a startup headquartered in Salt Lake City, Utah and backed by Paris-based VC firms Future Shape and Hardware Club, to Austin, Texas, Transmission System Operator NORTH AMERICA. Energy Contract Originator This is a big concern, and it is compounded by the fact that the limited number of nephrologists available to work at the clinics creates an opportunity for anticompetitive restrictions on labor. MasTec completed five acquisitions in 2022 and fourteen acquisitions in 2021. Bitcoin on Course for Longest Streak of Monthly Gains Since 2021. JPMorgan CEO Jamie Dimon warned about the threat from fintechs 2 years ago. SLAC National Accelerator Laboratory The site is secure. This is MasTecs 1st transaction in Arizona. 2023 PitchBook. We remain committed to maintaining a strong balance sheet and our investment grade rating. IN TECHNOLOGY, MASTEC 100 UP TO TENS OF PERCENT, Elk River, Minnesota, Electric Utility Engineer I/II/III This matter is not expected to result in any changes to the financial results for the year ended December 31, 2022. MIAMI (May 10, 2021) Holland & Knight advised MasTec, Inc. (NYSE: MTZ) on its $420 million acquisition of INTREN, LLC, one of the largest private energy Holland& Knight LLP acted as legal counsel to MasTec. At Southern Maryland Electric Cooperative, Inc. This could have life-threatening impacts on patients receiving dialysis services, especially those with end-stage renal disease, which is characterized by a near total loss of kidney function. Specific factors that might cause such a difference include, but are not limited to: risks related to completed or potential acquisitions, including the acquisition of Henkels & McCoy Group, Inc., as well as the ability to identify suitable acquisition or strategic investment opportunities, to integrate acquired businesses within expected timeframes and to achieve the revenue, cost savings and earnings levels from such acquisitions at or above the levels projected, including the risk of potential asset impairment charges and write-downs of goodwill; risks related to adverse effects of health epidemics and pandemics or other outbreaks of communicable diseases, such as the COVID-19 pandemic, including its effect on supply chain or inflationary issues, as well as, the potential effects of the recently proposed vaccine mandates; market conditions, technological developments, regulatory or policy changes, including permitting processes and tax incentives that affect us or our customers' industries; the effect of federal, local, state, foreign or tax legislation and other regulations affecting the industries we serve and related projects and expenditures; the effect on demand for our services of changes in the amount of capital expenditures by our customers due to, among other things, economic conditions, including potential adverse effects of public health issues, such as the COVID-19 pandemic on economic activity generally, the availability and cost of financing, and customer consolidation in the industries we serve; activity in the industries we serve and the impact on our customers' expenditure levels caused by fluctuations in commodity prices, including for oil, natural gas, electricity and other energy sources; our ability to manage projects effectively and in accordance with our estimates, as well as our ability to accurately estimate the costs associated with our fixed price and other contracts, including any material changes in estimates for completion of projects and estimates of the recoverability of change orders; the timing and extent of fluctuations in operational, geographic and weather factors affecting our customers, projects and the industries in which we operate; the highly competitive nature of our industry and the ability of our customers, including our largest customers, to terminate or reduce the amount of work, or in some cases, the prices paid for services, on short or no notice under our contracts, and/or customer disputes related to our performance of services and the resolution of unapproved change orders; our dependence on a limited number of customers and our ability to replace non-recurring projects with new projects; the effect of state and federal regulatory initiatives, including costs of compliance with existing and potential future safety and environmental requirements, including with respect to climate change; risks associated with potential environmental issues and other hazards from our operations; disputes with, or failures of, our subcontractors to deliver agreed-upon supplies or services in a timely fashion, and the risk of being required to pay our subcontractors even if our customers do not pay us; risks related to our strategic arrangements, including our equity investments; any exposure resulting from system or information technology interruptions or data security breaches; any material changes in estimates for legal costs or case settlements or adverse determinations on any claim, lawsuit or proceeding; the adequacy of our insurance, legal and other reserves; the outcome of our plans for future operations, growth and services, including business development efforts, backlog, acquisitions and dispositions; our ability to maintain a workforce based upon current and anticipated workloads; our ability to attract and retain qualified personnel, key management and skilled employees, including from acquired businesses, and our ability to enforce any noncompetition agreements; fluctuations in fuel, maintenance, materials, labor and other costs; risks associated with volatility of our stock price or any dilution or stock price volatility that shareholders may experience in connection with shares we may issue as consideration for earn-out obligations or as purchase consideration in connection with past or future acquisitions, or as a result of other stock issuances; restrictions imposed by our credit facility, senior notes and any future loans or securities; our ability to obtain performance and surety bonds; risks related to our operations that employ a unionized workforce, including labor availability, productivity and relations, as well as risks associated with multiemployer union pension plans, including underfunding and withdrawal liabilities; risks associated with operating in or expanding into additional international markets, including risks from fluctuations in foreign currencies, foreign labor and general business conditions and risks from failure to comply with laws applicable to our foreign activities and/or governmental policy uncertainty; a small number of our existing shareholders have the ability to influence major corporate decisions; as well as other risks detailed in our filings with the Securities and Exchange Commission. We use cookies to understand how you use our site and to improve your experience. Austin, Texas, PUC Engineer (Engineer IV - VI) (00029045) Our choice of MasTec was based on the strong cultural fit for both our loyal employees and long-term customers. It has business operations across the US, Canada, and Mexico. While Granite Construction sports a Zacks Rank #1, the other two stocks carry a Zacks Rank #2 (Buy).Granite Construction and Sterling earnings for 2021 are expected to rise 40% and 30.3%, respectively.Tutor Perini has a solid earnings surprise history, surpassing the consensus mark in all of the trailing four quarters, with the average being 17.3%. This is a profile preview from the PitchBook Platform. The call-in number for the conference call is (856) 344-9221 or (888) 394-8218 with a pass code of 1221549. May 7, 2021 3:46PM EDT MasTec, Inc.s MTZ shares grew 4.3% in after-hours trading on May 6, after it reported impressive first-quarter 2021 results. Henkels' operating excellence is well known in the industry, and together with MasTec, our expanded resources and footprint will help serve expected significant growth demand in the utility sector. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month.
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