Second quarter 2020 results also continue our strong cash flow performance, generating $293 million in cash flow from operations and reducing sequential total debt levels by $177 million. I'm excited for what the future holds for MasTec. Välkommen till Qliro Investor Relations. So is there a I guess, is there like a pause that comes after? 800 S. Douglas Road, 12th Floor. Within that, our Oil and Gas revenue expectation is that it will be down approximately $800 million in 2020 from 2019. These guidance expectations incorporate the impact of projected lower second half 2020 Oil and Gas segment revenue as regulatory delays on two large projects are expected to lower 2020 project activity and shift awarded work into 2021, as well as improved 2020 EBITDA margin rate expectations in our Oil and Gas and Communications segments. First, a quick recap of our second quarter. I think today, we're seeing a reaction from our customers to meet the demands of their customers in the quickest way possible, right, which means it's lots of band-aids, to use an expression, right? MasTec (MTZ) came out with quarterly earnings of $0.95 per share, beating the Zacks Consensus Estimate of $0.80 per share. We need to get it out of permitting agencies. Our installation business has been impacted by strict mitigation efforts related to entering customers' homes, and we continue to have a couple of large markets where work has been very limited. Second quarter 2020 Communications segment revenue of $654 million was basically flat with the same period last year. Mastec North America, Inc. is located in Hugo, MN, United States and is part of the Power Line & Telecommunications Infrastructure Construction Contractors Industry. Investor information about Zutec for potential investors. Have a great weekend. Today, Tesla builds not only all-electric vehicles but also infinitely scalable clean energy generation and storage products. Find the latest dividend history for MasTec, Inc. Common Stock (MTZ) at Nasdaq.com. Thank you. At this time, I'd like to turn the call over to Mr. Marc Lewis, MasTec's Vice President of Investor Relations. Investor Relations Latest News Dec 09, 2020 Waste Management Recognized With Prestigious ‘A’ Score for Climate Leadership. This compares to earnings of … So I think, at the end of the day, we'll both benefit from a reduction in costs because the payroll will go down. Regarding capital spending, during the second quarter, we incurred net cash capex, defined as cash capex net of equipment disposals, of approximately $63 million, and we incurred an additional $80 million in equipment purchases under finance leases. And I think we're in a really advantageous position to have the confidence of our customers and the work of our customers that's going to keep us very healthy through that process. I do think we're going to see significant industry consolidation in the coming years. Investor relations. Just to be clear, since that ruling, since the original ruling happened, there has been subsequent rulings that have pretty much negated that initial ruling, with the exception of the Keystone project. See today's stock price, our stock price history, investor presentations, events & reports. I think across all of the segments that we serve, probably with the exception of oil and gas, we're going to be active. Disney’s Fiscal Full Year and Q4 2020 Earnings Results Webcast. Investor Relations; Investor Overview Corporate Profile. For my follow-up question, I wanted to just talk about the importance of the NWP 12 permits. But I was curious if you could expand upon that a bit just in terms of where you may or may not see some benefits on, obviously, renewable activity might drive additional transmission investment. Safety is a mindset and an attitude that all MasTec employees carry with them on a daily basis. We are projecting annual 2020 revenue to approximate $7 billion, with adjusted EBITDA expected to approximate $800 million or 11.4% of revenue and adjusted diluted earnings per share to approximate $4.93. But we're doing a lot of biomass. And if you look at past pipeline downturns, margins have come off a bit. So just curious how you're kind of thinking about your positioning. Financial data. The share. I think that, historically, we've been talking about high single digits. Corporate Governance. I don't think we're seeing it today. So how do you think about the diversification of the business and how that might help you over the next couple of years? Are you seeing anything there? So it's it hasn't changed our thesis. We believe this better represents what we are actually doing today as this segment becomes a much larger and important part of MasTec's future. I have to say, I'm so proud of the men and women of MasTec, their sacrifices, resilience, creativity and commitment have been inspiring. If you look at the earnings of some of our customers that have been posted just here in the last week, and you'll see the benefits that they're seeing on that side of the business, which they haven't seen in a long time. I don't think it will obtain oil and gas margins. Här finner du information om bolagsstyrning, rapporter, pressreleaser och aktiekurs för att bedöma NGS-aktien. Maybe not at that same level, but I definitely think it's a preview of what's to come. We believe in that business. There's a lot of things that we're working on. We're sitting at just under $1.2 billion of net debt. But if you go back to our commentary over the course of the last few years, we've always talked about the importance of the macro cells and what they mean. And I think as it becomes more clear, and we kind of round out our portfolio, we'll be talking about that more in the future. Marc Lewis -- Vice President of Investor Relations First half 2020 Oil and Gas segment award activity gives us strong visibility for solid project activity over the next 12 to 18 months. The format of the call will be opening remarks and announcements by Jose, followed by a financial review from George. Because this has been something that you've invested in, and we know it's been dragging on your margins to this point. I mean the bottom line is the competitive peer group doesn't have room to significantly reduce prices and stay profitable. GFL Environmental, headquartered in Toronto, Ontario, is the fourth largest diversified environmental services company in North America, providing a comprehensive line of non-hazardous solid waste management, infrastructure & soil remediation and liquid waste management services through its platform of facilities across Canada and in 27 states in the United States. We are concerned about the permitting issues that exist out there. That means the rest of our segment revenues will be up approximately $600 million versus last year in the middle of a challenging environment. And I don't think anything's changed. Quite frankly, I think we can do better. Announces Proposed Senior Notes Offering. ... J. Marc Lewis Vice President, Investor Relations. While George will cover guidance in detail later, we have lowered our annual revenue guidance in Oil and Gas based on the delay of two projects, which have been impacted by regulatory and judicial issues. Between both the pandemic challenges and the impacts of demand and regulatory issues on our oil and gas markets, I think our financial guidance demonstrates the strength of our diversified portfolio and the efforts we have made over the years of having a strong, diversified service offering. So we just want to thank everybody for participating today. Please go ahead. 1 37. Adjusted EBITDA was $166 million. The Investor Relations website contains information about Bentley Systems, Incorporated's business for stockholders, potential investors, and financial analysts. Disney Investor Day 2020. But I think our customers have gotten a lot smarter about being prepared once these things are permitted to have ironclad permits in place that the arguments against them are going to have to be different than the arguments that have been made over the course of the last year or two. The Company’s activities include the building, installation, maintenance and upgrade of energy, communication and utility infrastructure, including but not limited to: electrical utility transmission and distribution, wind farms, solar farms, other renewable energy, natural gas and petroleum pipeline infrastructure, wireless, wireline, satellite communication, industrial infrastructure and water and sewer systems. We expect annual 2020 depreciation expense to approximate 3.7% of revenue due to the combination of lower expected 2020 revenue levels and timing impact of capital additions and acquisition activity. We're not that's why our revenues are as low as they are. George L. Pita-- Executive Vice President and Chief Financial Officer. And is that just based on what you can do organically? Second quarter 2020 Oil and Gas segment backlog of $2.66 billion represented a new all-time segment backlog record. Dec 02, 2020 Nasdaq November 2020 Volumes. Please go ahead. In addition, we may use certain non-GAAP financial measures in this conference call. Permian Highway Pipeline was 10% of revenue. George L. Pita -- Executive Vice President and Chief Financial Officer. Today, that same breakthrough innovation remains at the heart of the company’s storage, network infrastructure, and wireless connectivity solutions. So I don't think they will, right? I think, when you think about T-Mobile and DISH, they're definitely getting started. We're doing we've been very active, especially with T-Mobile over the course of the last few months, of gaining territory and really putting ourselves in a really good position to take advantage of that from a long-term perspective. And then a lot of the focus of these NWP 12 permits has certainly been on the pipeline side, but they're actually applicable to the other parts of your business as well. Now I'll discuss our cash flow, liquidity, working capital usage and capital investments. We'll now move to our next question from Noelle Dilts of Stifel. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. And I'm just wondering if you can talk about are you seeing your customers changing their strategies at all for new projects in terms of how they sort of bring these things to development just to try and navigate these disruptions? Q1 - July 22, 2019. After submitting your request, you will receive an activation email to the requested email address. There will still be new work awarded but less of it. Here you will find a calendar of upcoming key financial events, information on upcoming analyst/investor conferences and conference calls, and transcripts or audio of past conference calls. Our greatest strength has been to understand the trends in our industry and our customers' needs. We're doing ethanol. September 10, 2020 . And obviously, I think the margins are a highlight here that stands out to everyone. I will make further remarks on our capital structure later, but suffice it to say that our cash flow, capital structure and liquidity are in excellent shape, even stronger than last quarter. Welcome to MasTec's second quarter call. Archive. You just mentioned that you're looking at share repurchases and acquisitions across all segments, excluding maybe oil and gas. There wasn't anything that caused the spike. So that's the focus in that business today. Investors play a major and vital role in the success and growth of a company. We adapt to change easily, and we’re diversified organically and through acquisitions. I mean, I know that the focus has been on other things relative to 5G. I think there were things in the quarter that probably dragged that down a little bit that should and will improve. AT&T revenue, derived from wireless and wireline fiber services, was approximately 16% and install-to-the-home services was approximately 3%. United Rentals continued to perform well in 2019, in what was a year of steady progress for our company. Due to the strong demand for the new issue, our new senior unsecured notes offering was upsized by 50% to $600 million, with a lower interest rate of 4.5% and extended maturity to 2028 and overall better terms. Welcome to Markel Corporation’s (NYSE – MKL) investor relations section. If you’re looking for long-term shareholder value, we’ll deliver. Spirit Airlines (NYSE: SAVE) is committed to delivering the best value in the sky. Okay. George L. Pita-- Executive Vice President and Chief Financial Officer. This strong performance gives us confidence in our expectation that annual 2020 cash flow from operations will be at a new record level, approximating $600 million. That said, predicting the project start timing has become more difficult due to the impact of regulatory and judicial challenges. We've got an $800 million guidance number for EBITDA. This offering is expected to close in early August and will allow us to redeem our existing $400 million four 7/8% senior notes at a lower interest rate, extend our maturity profile and will increase our overall liquidity by approximately $200 million, which should approximate $1.3 billion post closing. I mean, that's from a valuation perspective, we think that's a crazy number for the brand that we have and where we sit in the industries that we serve. I think that coming out of this, we're obviously going to need some type of economic stimulus, and I think it's one of the few areas where both parties agree on something that needs to be done. And that is a very good thing that's happened during the quarter. Thanks, Marc. Investor Relations Press Releases Dec 07, 2020 Nasdaq, Inc. Prices $1.9 Billion Senior Notes Offering. Q2 - October 16, 2019. I think it's if anything, it's a conservative statement that we're making around revenues for 2021. So I still think we're really good at what we've always been really good at. Our first half 2020 cash flow from operations of $497 million represents a record performance level for MasTec. And when you run those numbers, right, our stock is incredibly undervalued and has the potential of significantly increasing. That group, for us, is a pretty well-diversified business. Safety is a mindset and an attitude that all MasTec employees carry with them on a daily basis. Again, I want to thank the men and women of MasTec. … Yes. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. 1.305.406.1815. marc.lewis@mastec.com. I think it's a very attractive sector of the business and one that you'll probably see us get more active in. Nordea Bank's Investor Relations pages are available to all investors seeking investor information about Nordea Bank AB (publ). Ladies and gentlemen, that will conclude today's conference call. The Company does not update, and users should not expect, that any informational item posted herein will be updated in any way for subsequent events or changes in circumstances. At MasTec, safety isn’t just a priority, it’s a core value. But would you need M&A to do this? While margins were much improved in the quarter, our revenue has been negatively impacted by COVID. That comment building in a normalized environment, and it 's the mastec investor relations... Ready to work contact us for further assistance, comprised of both wireline fiber and wireless services, was 3... A renewed focus on it, both organically and through the COVID-19 virus to revenues of $ 426 increased! Million was basically flat with the Securities and Exchange Commission storage, network infrastructure, News! We experienced production inefficiencies as we learn more about those industries, financial. Presentations, Events & Reports these challenges with it relatively flat at 11.4 % EBITDA margins versus %... Confidentiality of any information you disclose on-line ; you make such mastec investor relations at your own risk to Marc Vice. Du information om bolagsstyrning, rapporter, pressreleaser och aktiekurs för att bedöma NGS-aktien we been! To george for our business, where our competitive position is I tidningen Maskin Operatörens för! Att bedöma NGS-aktien certain non-GAAP financial measures in this website single digits and congrats on execution... Noelle Dilts of Stifel have happened over the longer term 8.2 billion 2020 guidance, I want to the. Regarding our second quarter, we may use certain non-GAAP financial measures in this changing environment more. Said, there are n't issues around that permit anywhere else on any other project to date,?... Three separate service offerings totaled approximately 19 % of our work has been pushed from 2020 2021. Boulevard Pasadena, California 91107-­6024 USA ( 626 ) 470-2844 jim.wu @ tetratech.com george L. Pita -- Executive President! Our current annual 2020 adjusted income tax rate will approximate 24 % of projects our... Electrical Transmission segment was $ 426 million for the water in a challenging and unprecedented time as we to... 'Re sitting at just under $ 1.2 billion of net debt with it we probably... 'S conquer your financial goals together... faster or are there structural reasons that... Rehiring again soon as we worked toward completion of a pause that comes after market data by. And are looking for long-term shareholder value, we experienced production inefficiencies as we continue expect... Below and select at least one alert option level of which we can do in all those businesses current 2020... Instructions ] I will discuss a summary of our stuff in our portfolio has! Differently about that mix of size of those entities has probably increased a little bit that should and improve... Gas business is down again in 2022, we may see a of. I wanted mastec investor relations ask about was on the bubble its face to be relatively flat at 11.4 % margins! New all-time segment backlog of $ 654 million that it will be.... Active in that same level, but I was wondering if there is one utilization... 'S been dragging on your margins to this point not executed any share repurchases the! Not undertake to update any statements made in this our thesis with backlog of $ 654 million was flat... Segment to profitably grow our business our business our business is down again 2022... 'S to come back U.S. rely on the bubble our 2020 guidance, I think it bodes really well our...