MasTec's Q3 Earnings Beat Estimates, Backlog Rise, 24 View Up

Zacks11-01

MasTec, Inc. MTZ reported stellar earnings for third-quarter 2024, which handily surpassed the Zacks Consensus Estimate and increased strongly on a year-over-year basis.See the Zacks Earnings Calendar...

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MTZ reported stellar earnings for third-quarter 2024, which handily surpassed the Zacks Consensus Estimate and increased strongly on a year-over-year basis.See the Zacks Earnings Calendar...</p>\n\n<a href=\"https://finance.yahoo.com/news/mastecs-q3-earnings-beat-estimates-151000322.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>MasTec's Q3 Earnings Beat Estimates, Backlog Rise, 24 View Up</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMasTec's Q3 Earnings Beat Estimates, Backlog Rise, 24 View Up\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-01 23:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/mastecs-q3-earnings-beat-estimates-151000322.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>MasTec, Inc. MTZ reported stellar earnings for third-quarter 2024, which handily surpassed the Zacks Consensus Estimate and increased strongly on a year-over-year basis.See the Zacks Earnings Calendar...</p>\n\n<a href=\"https://finance.yahoo.com/news/mastecs-q3-earnings-beat-estimates-151000322.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MTZ","symbol_name":"MasTec Inc","start_time":0,"source_url":"https://finance.yahoo.com/news/mastecs-q3-earnings-beat-estimates-151000322.html","article_id":"2480832461","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/0oOLmYQMIuqKMFbvZa5Cbw--~B/aD0zNzI7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/1bc2dcbe6a942970f0b0bd6186167cea"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2480832461","pubTimestamp":1730473800,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"MasTec, Inc. MTZ reported stellar earnings for third-quarter 2024, which handily surpassed the Zacks Consensus Estimate and increased strongly on a year-over-year basis.See the Zacks Earnings Calendar to stay ahead of market-making news.However, revenues missed the analysts’ expectations and slightly declined on a year-over-year basis. MTZ posted nearly 6% lower revenues from its previously provided guidance of $3.45 billion due to near-term project delays.MasTec’s shares spiked 7.2% in the after-hours trading session on Thursday. Backed by strong third-quarter performance, MTZ lifted its 2024 view for the bottom line. Strength of the diversified business model will drive MasTec's performance in 2025 and beyond.Adjusted earnings per share  of $1.63 topped the Zacks Consensus Estimate of $1.23 by 32.5% and increased by a whopping 71.6% year over year from 95 cents. Impressively, the company exceeded the previously provided EPS guidance of $1.24.MasTec expects revenues of about $3.325 bi","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"MTZ":"MasTec Inc","MLM":"马丁-玛丽埃塔材料","VMC":"火神材料"},"translate_title":"MasTec第三季度盈利超出预期，积压订单增加，24查看","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MTZ":1,"MLM":0.9,"VMC":0.9},"content_text":"MasTec, Inc. MTZ reported stellar earnings for third-quarter 2024, which handily surpassed the Zacks Consensus Estimate and increased strongly on a year-over-year basis.See the Zacks Earnings Calendar to stay ahead of market-making news.However, revenues missed the analysts’ expectations and slightly declined on a year-over-year basis. MTZ posted nearly 6% lower revenues from its previously provided guidance of $3.45 billion due to near-term project delays.MasTec’s shares spiked 7.2% in the after-hours trading session on Thursday. Backed by strong third-quarter performance, MTZ lifted its 2024 view for the bottom line. Strength of the diversified business model will drive MasTec's performance in 2025 and beyond.\nInside the Headlines\nAdjusted earnings per share (EPS) of $1.63 topped the Zacks Consensus Estimate of $1.23 by 32.5% and increased by a whopping 71.6% year over year from 95 cents. Impressively, the company exceeded the previously provided EPS guidance of $1.24.\n\nMasTec, Inc. Price, Consensus and EPS Surprise\n\nMasTec, Inc. price-consensus-eps-surprise-chart | MasTec, Inc. Quote\n\nRevenues of $3.25 billion missed the consensus mark of $3.45 billion by 5.3%. In the year-ago period, MTZ reported $3.26 billion in revenues.At the end of Sept. 30, 2024, the company had an 18-month backlog of $13.86 billion, up 11% year over year and 3.9% sequentially. The upside was driven by strong bookings of renewable energy projects.\nSegment Update\nRevenues from Communications rose to $927.2 million from $824.4 million reported a year ago. Adjusted EBITDA margin expanded 200 basis points (bps) to 11.5%.Clean Energy and Infrastructure’s revenues increased year over year to $1,138.4 million from $1,099.9 million. Adjusted EBITDA margin was 7.5%, down 230 bps from the year-ago quarter.Revenues from the Power Delivery (formerly known as Electrical Transmission) segment increased to $712.5 million from the year-ago figure of $665 million. However, adjusted EBITDA margin contracted 100 bps to 7.6%.The Oil and Gas segment’s revenues totaled $497.8 million, down from $672.3 million in the year-ago quarter. Adjusted EBITDA margin was 20.7%, up 620 bps year over year.\nOperational Update\nMasTec reported an adjusted EBITDA of $305.9 million, up 13% from $271.1 million in the prior-year period. Adjusted EBITDA margin increased to 9.4% from 8.3% in the year-ago quarter. Earlier, the company expected an adjusted EBITDA of $295 million and adjusted EBITDA margin of 8.6%.\nFinancial Details\nAs of Sept. 30, 2024, MasTec had cash and cash equivalents of $181.2 million, down from $529.6 million in 2023-end. Long-term debt (including finance leases) was $2.14 billion, down from $2.89 billion in 2023-end.At the end of the first nine months of 2024, the net cash provided by operating activities was $649.9 million compared with $196.6 million a year ago.\nQ4 2024 View\nMasTec expects revenues of about $3.325 billion compared with $3.28 billion reported in the fourth quarter of 2023.Adjusted EBITDA is estimated to be $259 million, up from $231.4 million a year ago. The adjusted EBITDA margin is expected to be 7.8%, up from 7.1% reported in the prior-year quarter.The company expects to report adjusted EPS of $1.29, significantly up from the year-ago quarter’s figure of 66 cents.\n2024 Guidance Revised\nThe company now expects to generate revenues of approximately $12.225 billion (priorly expected $12.4 billion), still up from $12 billion reported in 2023.Adjusted EBITDA is now expected to be around $990 million compared with $975 million expected earlier. The company raised its adjusted EBITDA margin expectation to 8.1% from 7.9% expected earlier. In the year-ago period, MTZ reported an adjusted EBITDA of $860.3 million and an adjusted EBITDA margin of 7.2%.Adjusted EPS is now anticipated to be $3.75 (priorly expected $3.03), up from $1.97 reported in the prior year.\nZacks Rank & Recent Construction Releases\nMasTec currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Gibraltar Industries, Inc. ROCK reported mixed third-quarter 2024 results. Earnings beat the Zacks Consensus Estimate, but revenues missed the same.Gibraltar’s third-quarter performance was aligned with forecasts, with Renewables and Residential segments meeting expectations and Agtech sales rising more than 30%. Improved margins across three of four segments generated $65 million in cash flow, supported by strong execution and effective working capital management. CEO Bill Bosway emphasized that despite challenging market conditions, Gibraltar remains positioned for earnings growth this year. The company continues to focus on operational improvements and expanding customer relationships to navigate current market dynamics.Vulcan Materials Company VMC reported third-quarter 2024 results, with earnings and revenues missing their respective Zacks Consensus Estimate and declining on a year-over-year basis due to severe weather, including hurricanes and storms across the Southeast, that led to lower aggregates shipments.Nonetheless, Vulcan reported a 10% increase in aggregates cash gross profit per ton, marking the eighth consecutive quarter of double-digit growth. Additionally, Vulcan’s recent acquisition of Wake Stone Corporation will extend its presence in the high-growth Carolinas region. The company's \"Vulcan Way of Selling and Operating\" principles as key drivers in enhancing profitability and seamlessly integrating new operations.Martin Marietta Materials, Inc. MLM reported tepid results for third-quarter 2024, with earnings and revenues missing the Zacks Consensus Estimate. Both the top and bottom lines decreased on a year-over-year basis.Martin Marietta now expects total revenues of $6.450-$6.705 billion, down from $6.78 billion in 2023. Earlier, it expected total revenues of $6.5-$6.94 billion. Adjusted EBITDA is now projected to be between $2.015 billion and $2.115 billion, down from the previous projection of $2.1-$2.3 billion. This reflects decline of 3% at midpoint from $2.128 billion in 2023. The reduced projection reflects weather related impacts on third quarter results.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nVulcan Materials Company (VMC) : Free Stock Analysis Report\nMartin Marietta Materials, Inc. (MLM) : Free Stock Analysis Report\nGibraltar Industries, Inc. (ROCK) : Free Stock Analysis Report\nMasTec, Inc. (MTZ) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2480832461"}