On a combined basis, these three separate service offerings totaled approximately 19% of our total revenue. Yes. Cash flow from operations was roughly $295 million, and year-to-date cash flow from operations was $497 million. We're going to be trading at our historical 7.5 to 8 times multiple. Investor information about Zutec for potential investors. And as we learn more about those industries, and we do bigger projects, we get more comfort around them. In summary, our record 2020 cash flow expectation, coupled with solid long-term capital structure, low interest rates, no significant near-term maturities and ample liquidity, places MasTec's balance sheet in an extremely strong position. That's what we don't know. 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. And then just in the context of the very strong free cash flow and leverage coming down. 2021. We are truly in a challenging and unprecedented time as we continue to manage through the COVID-19 pandemic. But any differences in business versus in the past that allow you to have confidence in the margins staying up here? Disney’s Fiscal Full Year and Q4 2020 Earnings Results Webcast. 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. While times are challenging and uncertain, opportunities always arise from these challenges. Investor Relations (IR) combines finance, communication, and marketing to effectively control the flow of information between a public company, its investors, and its stakeholders. You did mention you're looking at sort of flattish oil and gas revenue into next year. So just curious how you're kind of thinking about your positioning. And we think that's a story in MasTec today, irrespective of what you think in Oil and Gas. And we reduced total debt levels by $190 million during the first half of 2020 despite investing approximately $130 million in share repurchases and M&A. As we look to the remainder of 2020, we expect second half 2020 Communications segment revenue levels will approximate first half 2020 revenue levels, with some continued disruption and lost revenue primarily from local municipality permitting issues related to the COVID-19 pandemic. And backlog at quarter end was a second quarter record at $8.2 billion. The revenues weren't substantially changed, so it doesn't appear on its face to be operating leverage. And then we're also hearing some talk around broadband. First half 2020 Oil and Gas segment award activity gives us strong visibility for solid project activity over the next 12 to 18 months. Revenue was $426 million for the second quarter versus $250 million in the prior year, a 70% year-over-year increase. 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? Second quarter 2020 Oil and Gas segment backlog of $2.66 billion represented a new all-time segment backlog record. Marten Transport strives to exceed the expectations of its customers, investors and society. So that obviously needs permits. So I think there will be some 5G focus on it. And I think there's very attractive and interesting things we can do in all those businesses. Adjusted earnings per share was $0.95. And we've had a lot of backlog. MasTec | Infrastructure that Delivers Leading specialty contractor engineers, designs and constructs infrastructures for electric power generation and transmission, oil and natural gas pipelines, renewable energy facilities and wireless networks. I think we're interested in both, right? During the first half of 2020, we generated a record-level $497 million in cash flow from operations, which allowed us to reduce our total debt levels by approximately $190 million, while investing in approximately $130 million in share repurchases and M&A. 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. With that said, there are some larger assets in place that are interesting. Aktiegraf. Announces Proposed Senior Notes Offering. We don't have any large pipelines in our first half results this year. But I think we can get to double-digit margins over time, and I think that's important. Home > Company > Investor Relations Investor Relations epoch03 2018-05-02T16:56:05-04:00 Newtek (NASDAQ: NEWT) is a direct distributor of business and financial solutions. Adjusted EBITDA was $166 million. So all we're trying to do is create the perception of what MasTec's valuation should look like, whether you believe that, that business is going to get better, or if you actually don't think the business is going to get better. Various risks, uncertainties and assumptions are detailed in our press releases and filings with the SEC. And that is a very good thing that's happened during the quarter. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Charlie MacPherson. Q3 - Around January 20, 2020 George L. Pita-- Executive Vice President and Chief Financial Officer. Now the question is, will they be able to develop other strategies that work or not? So I think this first half of 2020 actually exemplifies what our future business should look like from a margin effective based on the fact that the large pipelines that we're working on are pretty much all delayed until the second half of this year. Regarding our share repurchase program, we expect to opportunistically invest in this program as conditions warrant, while also prudently managing our balance sheet. But I was wondering what the primary driver there was and if it was particularly related to the headcount? And if you look at past pipeline downturns, margins have come off a bit. Quite frankly, I think we can do better. More importantly, margins came in strong, and we're up 370 basis points year-over-year and 380 basis points sequentially. We expect this will be resolved shortly. Marvell first revolutionized the digital storage industry by moving information at speeds never thought possible. Operator? We'll now move to our next question, which comes from Andy Kaplowitz of Citigroup. We're looking for things. Marc Lewis -- Vice President of Investor Relations There's a lot of things that we're working on. And then my second question, in response to the comments that you made about you said, over the long term, revenues in oil and gas flat with 2020, but then maybe a $2 billion to more normal range, and that the other businesses could offset the profits that we would lose from oil and gas. There wasn't anything that caused the spike. It's a competitive market. Financial data. The project is approximately 90% complete as of the end of the second quarter, and we expect to recover a portion of these inefficiencies from our customer during the back half of 2020. During the second quarter, we generated $293 million in cash flow from operations and ended the quarter with net debt, defined as total debt less cash of $1.19 billion, which equates to a very comfortable book leverage ratio of 1.6 times. Yes. We feel really good about where we stand in the market. Now I'll discuss our cash flow, liquidity, working capital usage and capital investments. So those are the challenges we faced, but a good quarter. We are the leader in providing customizable travel options starting with an unbundled fare. Welcome to MasTec's second quarter call. Spirit Airlines (NYSE: SAVE) is committed to delivering the best value in the sky. 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. By providing your email address below, you are providing consent to MATCH GROUP to send you the requested Investor Email Alert updates. Again, I want to thank the men and women of MasTec. Now I will cover some highlights regarding our second quarter segment results and guidance expectations for the balance of 2020. Hasn't visibility around growth in comms improved since we spoke to you last quarter? That's helpful. Second quarter 2020 Communications segment adjusted EBITDA margin rate was 11.7% of revenue, representing a sequential increase of 380 basis points when compared to the first quarter of 2020 and a 370 basis point improvement when compared to last year's second quarter. But have no doubt, the way we're looking at it is we got a great business that's growing predominantly around clean energy today. What types of projects? So I think you're going to see a mix of everything in the industry in the coming years. First, in the midst of a pandemic, our revenue guidance for 2020 is only down about $200 million or 3% less than 2019 full year revenue. Download PDF. Investor Relations Global Contacts MasTec Inc MTZ Morningstar Rating Rating as of Nov 16, 2020. Find out more about investor relations at GE. And NextEra Energy, NG, Duke Energy and Enterprise Products were each at 4%. Notes: Phone: (+45) 30 30 99 08 Email: email@example.com. Other Sites All right. And is that just based on what you can do organically? More importantly, margins on a year-over-year basis are expected to be relatively flat at 11.4% EBITDA margins versus 11.7% last year. And I don't think anything's changed. So M&A is a part of our story. Davidson. And I was wondering, in particular, what the driver was of that margin? ET, Welcome to MasTec's Second Quarter 2020 Earnings Conference Call initially broadcast on July 31, 2020. Investor Relations A Leading Global Semiconductor Company. Today, I'll cover second quarter results, our guidance expectation for the balance of 2020, including the ongoing impact of the COVID-19 pandemic, as well as our strong cash flow performance, capital structure and liquidity. Good morning, Jose, just beyond just kind of fiber and the 5G small-cell opportunities, we've heard a bit of optimism about the potential for kind of larger macro towers and maybe a pickup there as people are sort of recolonizing suburban areas outside of the city. Just a note on the 10-Q availability, we've been attempting to file the 10-Q with the SEC since 5:00 p.m. yesterday, but an SEC filing system breach has prevented the filing from being uploaded and accessible. We're not that's why our revenues are as low as they are. With that said, we also know that, in the middle term, we may see a slowdown. 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. 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. Between our strong backlog and the opportunities we see in the market, we expect to be able to deliver both strong revenue growth, coupled with margin expansion in the coming years. Astec Industries, Inc. manufactures more than 100 products for a global customer base operating in the … Individual construction projects comprised 64% of our revenue, with master service agreements comprising 36%, once again highlighting that we have a substantial portion of our revenue derived on a recurring basis. Good morning, guys. I guess, two questions, Jose. We believe we are well positioned for 2021 and beyond as the drivers for this segment remain intact, which include aging infrastructure, reliability, renewables and system hardening. But just as we think about next year with some of those key elements that are driving growth, namely the sort of Sprint-T-Mobile-DISH opportunity, any updates there in terms of activity ramping? The SAS Investor Relations’ main goal is to provide investors and capital market players with good, timely and relevant information to enable them to understand the business and the ways in which share value can be enhanced. And those things that they might have done, the deficiencies are brought out against today aren't happening on a go-forward basis. I would expect us to be active in the market over the course of the next 12 months. Analysts. The size and scope of the opportunities we are seeing in this segment continues to grow. 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