MasTec, Inc.: Power Delivery & Clean Energy Expansion As A Key Growth Catalyst! 

MasTec’s third-quarter 2024 financial performance showed a mix of positives and challenges, providing a nuanced view for potential investors. The company reported a revenue of $3.3 billion, although slightly below expectations, it still demonstrated strong operational execution with an adjusted EBITDA of $306 million, surpassing guidance by $11 million. Adjusted earnings per share of $1.63 exceeded expectations by $0.39, driven by higher-than-expected EBITDA and lower depreciation and interest expenses. Notably, MasTec’s backlog increased to $13.9 billion, marking a $520 million sequential rise, which paints a promising picture for the company’s future projects and cash flow visibility.