The company markets services individually more Contact Information Website www.mastec.com Ownership Status Publicly Held Financing Status 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. Duis aute irure, To view MasTecs complete competitors history, request access, Youre viewing 5 of 23 executive team members. MasTec Inc.has closed its previously announced acquisition ofHenkels & McCoy Group Inc. in a cash and stock transaction valued at approximately$600 million. Franchisee Conversations with Chair Khan, DaVita Inc. and Total Renal Care, Inc., In the Matter of. Houlihan Lokey served as exclusive financial advisor, and Sidley Austin LLP served as legal counsel, to Henkels. We believe that this opportunity, coupled with continued expected growth in telecommunications infrastructure and expanding demand for traditional and new green pipeline services, positions us with multiple strong long term growth opportunities. Second quarter-end backlog at the Clean Energy and Infrastructure segment improved $320 million sequentially. The company serves renewable energy, electric power, oil and gas, water and sewer, civil and industrial, technology, communications and government sectors. 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 Springfield, Missouri, Transmission System Operations Manager If you do not, click Cancel. SLAC National Accelerator Laboratory First quarter 2023 adjusted EBITDA is expected to approximate $100 million or 4.2% of revenue, with adjusted diluted loss per share expected to approximate $0.57. The Federal Trade Commission issued a proposed order imposing strict limits on future mergers by DaVita, Inc., a dialysis service provider with a history of Holland & Knight LLP acted as legal counsel to MasTec. The analysis to aid public comment provides additional details about the consent order. 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. As one of the largest clean energy contractors in the country, MasTecs expertise in constructing wind farms, solar farms, biomass facilities, high-voltage transmission lines, substations, battery storage and hydrogen-enabled solutions uniquely position the company to take advantage of the growth in this market. Furthermore, the companys substantial presence in the telecommunications market and recent expansion into heavy infrastructure will prove conducive to its growth profile.So far this year, shares of this leading infrastructure construction company have gained 30.5%, outperforming the Zacks Building Products - Heavy Construction industrys 23.6% rally. MasTec Inc is a leading infrastructure construction company operating primarily throughout North America. Privacy Policy | No cost, no obligation to buy anything ever. Its principal, ectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore ma, itation ullamco laboris nisi ut aliquip ex ea commodo consequat. Jose Mas, MasTec's Chief Executive Officer, commented, "As we end 2022, it is important to note the significant end market transformation we have undertaken over the past two years to support the nation's energy transition to sustainable renewable energy sources. Get the full list, Youre viewing 5 of 17 subsidiaries. Lina M. Khan was sworn in as Chair of the Federal Trade Commission on June 15, 2021. Based on the information available today, the Company is providing both first quarter and full year 2023 guidance. Delaware Electric Cooperative This is MasTecs 21st transaction in the United States. We do not undertake any obligation to publicly update or revise these forward-looking statements after the date of this press release to reflect future events or circumstances, except as required by applicable law. Their 650 employees have a similar DNA to Wanzeks both companies lead with a You can see the complete list of todays Zacks #1 Rank (Strong Buy) stocks here. The FTC will publish the consent agreement package in the Federal Register shortly. Get the full list, To view MasTecs complete esg history, request access, To view MasTecs complete exits history, request access, Morningstar Institutional Equity Research, Chief Financial Officer, Finance & Chief Accounting Officer, Accounting, Executive Vice President & Corporate General Counsel. ZacksTrade and Zacks.com are separate companies. __________________________ 1 Reconciliation of fiscal year 2021 non-GAAP measure is included in this release Reconciliations of fiscal year 2022 forward-looking financial measures included in this presentation that are non- U.S. GAAP financial measures to the corresponding GAAP financial measures are not included, due to variability and difficulty in making accurate forecasts and projections, particularly in light of potential changes in Henkels' operations following its acquisition, as well as, because certain information is not currently ascertainable or accessible, and because not all of the information necessary for a quantitative reconciliation of these forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures is available to us without unreasonable efforts. September 02, 2021, STRL Quick QuoteSTRL TPC Quick QuoteTPC MTZ Quick QuoteMTZ GVA Quick QuoteGVA. Dec. 21, 2021 MasTec, Inc. MTZ has inked a deal to acquire a leading U.S. private electrical power transmission and distribution utility services firm Henkels & McCoy Group Inc. (Henkels). The Federal Trade Commission issued a proposed order imposing strict limits on future mergers by DaVita, Inc., a dialysis service provider with a history of fueling consolidation in life-saving health industries. The webcast replay will be available for at least 30 days. Web Mastecs acquisition of INTREN and Henkels & McCoy has made them a market leader in the electrical transmission segment, enhancing the companys ability to increase its backlog. WebMASTEC, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited - in thousands, except per share amounts) For the Three Months Ended June 30, For the Six In the transaction, MasTec acquired all the equity interests of INTREN for approximately $420 million in cash plus a contingent earnout through year end 2021. Lets delve deeper into major growth drivers of this Zacks Rank #3 (Hold) company. The site is secure. Annual 2023 Guidance Includes Revenue of $13.0 Billion, a 33% Increase Over 2022, GAAP Net Income Between $194 and $212 Million, Adjusted EBITDA Between $1.10 and $1.15 Billion, with Diluted Earnings Per Share Between $2.48 and $2.70, and Adjusted Diluted Earnings Per Share Between $4.64 and $4.91. MasTec ( NYSE: MTZ) has been working to diversify away from the oil and gas pipeline business with two acquisitions in 2021. In 2020, MasTec recorded $6.3 billion in revenue, and we currently expect to more than double that level and approximate $13 billion in revenue in 2023. Bitcoin on Course for Longest Streak of Monthly Gains Since 2021. Net Profit Margin History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events. The Company's primary activities include the engineering, building, installation, maintenance and upgrade of utility, communications, and other infrastructure, such as: electric power transmission and distribution, wireless, wireline/fiber, and customer fulfillment activities; natural gas pipeline and distribution infrastructure; renewable and conventional power generation; heavy civil, and industrial infrastructure. Its earnings surpassed the Zacks Consensus Estimate in the trailing 23 quarters. The Company expects to timely file its 2022 Form 10-K on March 1, 2023. This critical tool will help the Commission quickly identify and ultimately prevent future facially anticompetitive deals by DaVita, a particularly acquisitive company. CORAL GABLES, Fla., Feb. 23, 2023 /PRNewswire/ -- MasTec, Inc. (NYSE: MTZ) today announced 2022 fourth quarter and full year financial results and issued its initial 2023 guidance expectation. The Federal Trade Commission works topromote competition, and protect and educate consumers. Project results from a non-controlled joint venture are included within Other segment results. 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 See our report's 7 new picks today, absolutely FREE. According to the FTCs complaint, there are only three providers of outpatient dialysis services patients in the greater Provo, Utah area, and the acquisition would eliminate actual, direct, and substantial competition between dialysis clinics owned by DaVita and dialysis clinics owned by the University of Utah Health, and would tend to create a monopoly. As previously announced on October 7, 2022, MasTec completed the acquisition of Infrastructure and Energy Alternatives, Inc., a premier renewables and This is MasTecs 1st transaction in Arizona. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.27% per year. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. 03925319, Artificial Intelligence: Leading Technology Companies, Cybersecurity: Leading Technology Companies, Electric Vehicles: Leading Technology Companies, Strategic Alliances Announced in Last 12 Months, Special Purpose Acquisition Corps. CORAL GABLES, Fla., Dec. 20, 2021 /PRNewswire/ -- MasTec, Inc. (NYSE: MTZ) today announced that it has entered into a definitive agreement to acquire Henkels & McCoy Group Inc. (Henkels), one of the largest U.S. private electrical power transmission and distribution utility services firm and the 14 th largest U.S. specialty contractor If any of these risks or uncertainties materialize, or if any of our underlying assumptions are incorrect, our actual results may differ significantly from the results that we express in, or imply by, any of our forward-looking statements. In November, Lemartec entered into an agreement with Burrell Aviation to work on developing regional municipal airport projects. MasTec Inc (MasTec) is an infrastructure construction company that offers engineering, building, installation, maintenance and upgrade services across North America. To address these concerns, the Commissions order includes important provisions that guard against restrictions on worker mobility and protect Utah consumers from other anticompetitive practices in this critical, life-saving health care market.. Tallahassee, Florida, Deputy Electrical Safety Officer Estimated backlog represents the amount of revenue we expect to realize over the next 18 months from future work on uncompleted construction contracts, including new contracts under which work has not begun, as well as revenue from change orders and renewal options. Notably, todays order extends the coverage of the prior approval beyond the markets directly impacted by this merger. PitchBooks comparison feature gives you a side-by-side look at key metrics for similar companies. Curated power industry news from thousands of top sources. The transaction was unanimously approved by the Board of Directors of both MasTec and Henkels, as well as Henkels shareholders. View original content:https://www.prnewswire.com/news-releases/mastec-to-acquire-henkels--mccoy-a-premier-utility-services-provider-301447978.html. Henkels & McCoy Group, Inc. With this filing, the Company anticipates it may disclose the identification of a material weakness in its internal controls over financial reporting, primarily related to IT controls at certain 2021 acquired operations undergoing first time internal controls evaluation in 2022. The Company's website should be considered as a recognized channel of distribution, and the Company may periodically post important, or supplemental, information regarding contracts, awards or other related news and webcasts on the "Events & Presentations" page in the "Investors" section therein. Comments must be received 30 days after publication in the Federal Register. It was Many patients with this condition cannot receive home dialysis, and because these patients often have multiple health problems, they cannot or will not travel more than 30 minutes or 30 miles for in-clinic dialysis treatment. Personalize which data points you want to see and create visualizations instantly. Jose Mas, MasTec's Chief Executive Officer, commented, "First of all, we look forward to welcoming almost 5,100 Henkels team members to the MasTec family.
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