Regardless of investor uncertainty and a altering regulatory political panorama, MasTec has by no means been higher positioned to capitalize on its portfolio of choices, CEO José Mas claimed in the course of the firm’s full-year earnings name on Feb. 28.
“I’ve by no means seen the demand momentum and the variety of alternatives for our collective enterprise,” Mas advised analysts. He added {that a} “gas-fired era renaissance” was on the horizon.
José Mas
Permission granted by MasTec
MasTec, which is headquartered in Coral Gables, Florida, makes a speciality of engineering, set up and upkeep of communications, power and utility infrastructure. The corporate’s niches coincide with government orders from President Donald Trump to in the reduction of on sustainable power initiatives and ease laws on oil and fuel builds within the U.S.
To that finish, Mas mentioned that clients throughout MasTec’s enterprise portfolio are discussing initiatives and offers as much as a decade down the street.
“The overarching theme is the unprecedented stage of demand on our communication, energy supply, era, civil and pipeline infrastructure clients,” Mas mentioned. “In each section we function, our clients are going through elevated demand for his or her companies.”
Coverage jitters
On the identical time, amid that enthusiasm Mas mentioned that, over the previous month, traders have additionally been spooked by the political panorama, which incorporates the freezing of Infrastructure Funding and Jobs Act and Inflation Discount Act funds, in addition to potential weaker demand for energy as a result of emergence of DeepSeek within the synthetic intelligence area.
“Clearly, there’s a whole lot of noise on the market. You had the chief order on wind [power]. You’ve got bought a whole lot of discuss what is going on to doubtlessly occur with IRA or not. Regardless of these conversations, and what would possibly come out of that, we’re nonetheless extremely bullish about 2026,” Mas mentioned in response to an investor query.
The numbers
MasTec reported $3.4 billion in revenues for the fourth quarter, a 4% rise from a yr in the past. For the complete yr 2024, the corporate posted $12.3 billion in income, a 3% improve, based on a Feb. 27 information launch.
The corporate noticed $74.7 million in revenue for This autumn, up from $753,000 a yr earlier. It had $162.8 million in earnings for the yr, reversing course from a $49.9 million loss for all of 2023.
Particularly, Mas highlighted the agency’s clear power and infrastructure, communications and energy supply companies, which elevated income 21% year-over-year.
In distinction, Mas mentioned that the agency anticipated its pipeline enterprise to say no in comparison with 2024, as a result of completion of the $7.85 billion Mountain Valley Pipeline challenge in June and huge exercise slows.
The corporate reported a backlog of $14.3 billion, up 15% from 2023’s $12.4 billion, per the discharge.
In 2025, the corporate expects full yr 2025 income to be $13.45 billion, per the discharge.
“Whereas our monetary metrics in 2024 had been a lot improved, we even have the flexibility to meaningfully enhance margins,” Mas mentioned. “That chance for enchancment is definitely what I am most enthusiastic about.”
