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mastec inc (MTZ) Key Developments

MasTec, Inc. Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter Ending March 31, 2015 and Year Ending December 31, 2015

MasTec, Inc. announced unaudited consolidated financial results for the fourth quarter and year ended December 31, 2014. For the year, the company reported revenue of $4,614.841 million against $4,324.787 million a year ago. Income from continuing operations before income taxes was $198.129 million against $240.214 million a year ago. Net income from continuing operations was $121.858 million or $1.42 per diluted share against $147.672 million or $1.74 per diluted share a year ago. Net income attributable to the company was $115.641 million or $1.34 per diluted share against $140.950 million or $1.66 per diluted share a year ago. Adjusted EBITDA - continuing operations was $111.7 million against $122.6 million a year ago. Adjusted net income from continuing operations was $33.7 million or $0.40 per diluted share against $44.9 million or $0.53 per diluted share a year ago. Adjusted net income was $27.7 million or $0.33 per diluted share against $43.6 million or $0.51 per diluted share a year ago. EBITDA - continuing operations was $102.1 million against $119.3 million a year ago. Fourth quarter cash flow from operations was $241 million. For the quarter, the company reported revenue of $1,236.660 million against $1,159.130 million a year ago. Income from continuing operations before income taxes was $46.474 million against $69.606 million a year ago. Net income from continuing operations was $27.874 million or $0.33 per diluted share against $42.886 million or $0.50 per diluted share a year ago. Net income attributable to the company was $22.297 million or $0.26 per diluted share against $41.500 million or $0.49 per diluted share a year ago. Net cash provided by operating activities was $322.038 million against $200.402 million a year ago. Adjusted EBITDA - continuing operations was $424.6 million against $448.9 million a year ago. Adjusted net income from continuing operations was $134.9 million or $1.57 per diluted share against $160.8 million or $1.90 per diluted share a year ago. Adjusted net income was $128.3 million or $1.50 per diluted share against $154.3 million or $1.82 per diluted share a year ago. EBITDA - continuing operations was $403.4 million against $427.6 million a year ago. Regarding spending on equipment, full year 2014 cash CapEx, net of equipment disposals was $92 million compared to $110 million in 2013. The total of full year cash CapEx, capital leases and finance equipment, again net of equipment disposals, was $168 million in 2014 compared to $221 million in 2013, a 24% reduction. The company has $1,111,000,000 in net debt as at December 31, 2014. For the quarter ending March 31, 2015, the company expects adjusted EBITDA - continuing operations in a range of $75 million - 80 million, net income from continuing operations in a range of $5-8 million or 0.06-0.10 per diluted share, adjusted net income from continuing operations in a range of $13 million - 16 million or $0.16-0.19 per diluted share. The company expects revenue of approximately $1.0 billion. Depreciation and amortization will be $42 million. For the year ending December 31, 2015, the company expects continuing operations adjusted EBITDA range of $450 million to $480 million, net income from continuing operations in a range of $120 million - 138 million or 1.44-1.66 per diluted share, adjusted net income from continuing operations in a range of $137 million - 155 million or $1.65-1.87 per diluted share. The Company currently estimates 2015 revenue of approximately $4.6 to $4.8 billion. Depreciation and amortization will be $178 million. The 2015 full year guidance assumes a tax rate of about 39%. The 2015 revenue range represents a flat to 4% increase over 2014 with a 6% to 13% increase in continuing operations adjusted EBITDA and a 5% to 19% increase in continuing operations adjusted diluted earnings per share. It also expects the 2015 CapEx levels will slightly moderate some from 2014 levels.

MasTec, Inc. to Report Q4, 2014 Results on Feb 26, 2015

MasTec, Inc. announced that they will report Q4, 2014 results at 5:00 PM, Eastern Standard Time on Feb 26, 2015

MasTec, Inc., Q4 2014 Earnings Call, Feb 27, 2015

MasTec, Inc., Q4 2014 Earnings Call, Feb 27, 2015

MasTec, Inc. Presents at Barclays Industrial Select Conference, Feb-18-2015 01:20 PM

MasTec, Inc. Presents at Barclays Industrial Select Conference, Feb-18-2015 01:20 PM. Venue: Loews Miami Beach Hotel, 1601 Collins Avenue, Miami Beach, Florida, United States. Speakers: Jose Ramon Mas, Chief Executive Officer and Director.

MasTec, Inc. Provides Earnings Guidance for the Year Ended December 31, 2015

MasTec, Inc. provided earnings guidance for the year ended December 31, 2015. For the year, the company expects revenue will increase 9% over expected 2014 revenue to $5.0 billion, with continuing operations adjusted EBITDA margin, a non-GAAP measure, of approximately 10% of revenue, and continuing operations adjusted diluted earnings per share, also a non-GAAP measure, of $1.87. The company expects EBITDA - continuing operations of $474 million, adjusted EBITDA - continuing operations of $500 million.

 

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