Mastec Inc.
MasTec Reports Strong Q1 2024 Results and Raises Full Year Guidance
Summary
MasTec, Inc. reported a first-quarter 2024 revenue of $2.69 billion, up 4% year-over-year, with an adjusted EBITDA of $157.3 million, beating consensus estimates. The company raised its full-year 2024 guidance, expecting revenue of $12.55 billion, GAAP net income of $121 million, and adjusted EBITDA of $975 million. MasTec's 18-month backlog increased to $12.8 billion as of March 31, 2024.
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About Mastec Inc.
Mastec Inc. is a comprehensive infrastructure construction company that operates primarily within the energy and communication sectors. Specializing in the engineering, building, installation, maintenance, and upgrading of infrastructure, Mastec plays a critical role in facilitating the development and functionality of modern energy and communication networks. The company is prominently engaged in activities related to the construction of oil and gas pipelines, electrical transmission systems, renewable energy facilities, and wireless and wireline communication systems. Mastec’s services are essential for utility companies, government agencies, and businesses seeking to expand or maintain their infrastructure capabilities. By providing these key services, Mastec helps to improve the reliability, efficiency, and connectivity of infrastructure networks, underpinning economic growth and technological advancement. This makes Mastec an important player in the ongoing development of essential services and infrastructure in the North American market.
Official SEC Documents
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