On February 4, 2021, MasTec acquired construction company FNF Construction from J.H. Full year 2022 adjusted net income and adjusted diluted earnings per share, both non-GAAP measures, were $234.8 million and $3.05, respectively, compared to $420.0 million and $5.65, respectively, during 2021. One Tech Engineering The deal was announced on May 5. Whitney Capital Partners. See our report's 7 new picks today, absolutely FREE. If you do not, click Cancel. No discussions yet. The transaction was unanimously approved by the Board of Directors of both MasTec and Henkels, as well as Henkels shareholders. 18-month backlog as of December 31, 2022 was $13.0 billion, up 31% compared to backlog as of December 31, 2021 of $9.9 billion, and a 16% sequential increase compared to backlog as of September 30, 2022 of $11.2 billion. To explore MasTecs full profile, request access. Our choice of MasTec was based on the strong cultural fit for both our loyal employees and long-term customers. WebOn October 7, 2022, MasTec, Inc. ("MasTec"), acquired all of the outstanding shares of common stock of Infrastructure and Energy Alternatives, Inc. ("IEA") pursuant to a Powder River Energy Corporation 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. 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. 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. MasTec ( NYSE: MTZ) has been working to diversify away from the oil and gas pipeline business with two acquisitions in 2021. Full year 2022 adjusted EBITDA, also a non-GAAP measure, was $780.6 million, compared to $939.1 million in 2021. MasTec, Inc. The largest construction acquisition in 2021 was Interior Logic Group - which was acquired by The Blackstone Group for $1.6B. Under the proposed order, DaVita is required to divest three Provo-area dialysis clinics to Sanderling Renal Services, Inc. and prohibited from entering into or enforcing non-compete agreements and other employee restrictions. ", Rod Henkels, Chairman and Chief Executive Officer of Henkels, commented, "As a third generation, family-owned company, we carefully evaluated multiple alternatives for our operations. MasTec Expands Electrical Distribution Operations The order follows allegations that DaVitas proposed acquisition of the University of Utah Healths dialysis clinics would reduce competition in vital outpatient dialysis services in the Provo, Utah market. This critical tool will help the Commission quickly identify and ultimately prevent future facially anticompetitive deals by DaVita, a particularly acquisitive company. WebJul 2021 - Aug 2022 1 year 2 months. 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. The outperformance can primarily be attributable to solid earnings surprise history. Public Utility Commission of Texas Our methodology for determining backlog may not, however, be comparable to the methodologies used by others. systems focused on lead generation, new customer acquisition, upselling, Our experts picked 7 Zacks Rank #1 Strong Buy stocks with the best chance to skyrocket within the next 30-90 days. IN TECHNOLOGY, MASTEC 100 UP TO TENS OF PERCENT, The Commission vote to accept the proposed consent order for public comment was 5-0. 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%. JPMorgan's buying binge: Behind the strategy of its more than 80 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. 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. Unlock MasTec Inc profile and new opportunities for your business. Second quarter-end backlog at the Clean Energy and Infrastructure segment improved $320 million sequentially. The monthly returns are then compounded to arrive at the annual return. Recent stocks from this report have soared up to +178.7% in 3 months - this month's picks could be even better. Non-GAAP measures should not be considered in isolation from, as a substitute for, or alternative measure of, GAAP net income and should be reviewed in conjunction with theprovidedreconciliation thereto. We are pleased to officially welcome the more than 5,100 Henkels team members to theMasTecfamily, said MasTec CEO Jose Mas in a Dec. 30 statement. This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. Also, the Rural Digital Opportunity Fund, or RDOF which is a follow-up to the Connect America Fund will provide $20 billion of funding over the next 10 years to build and connect gigabit broadband speeds in underserved rural areas. The company installs wireless, wireline, and satellite communications; oil and gas pipeline infrastructure; conventional and renewable power generation; and other industrial systems. MasTec, which eyes becoming a $10-billion company, raised its fiscal 2021 revenue estimate to $8.2 billion, with the firm telling investors it expects sales from Zacks Equity Research Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Wanzek is pleased to share that MasTec has acquired FNF Construction, a large transportation infrastructure contractor based out of Tempe, AZ. Our estimated backlog also includes amounts under master service and other service agreements and our proportionate share of estimated revenue from proportionately consolidated non-controlled contractual joint ventures. Franchisee Conversations with Chair Khan, DaVita Inc. and Total Renal Care, Inc., In the Matter of. 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. Total transaction consideration will be $600 million, with approximately $420 million in cash (including the repayment of Henkels' debt) plus approximately 2 million shares of MasTec common stock, subject to customary purchase price adjustments. WebDecember 31, 2021. MasTec Inc (MasTec) is an infrastructure construction company that offers engineering, building, installation, maintenance and upgrade services across North America. You can see the complete list of todays Zacks #1 Rank (Strong Buy) stocks here. FTC Imposes Strict Limits on DaVita, Inc.s Future

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